scotts wrote:
interesting read, i wonder how many people are linked to trusts without having any idea..

The majority of the population possibly! 

I would be very wary of buying in a regional area.

Think of the future.If you are paying down an investment property then you are tying up your cash. What happens when, a few years later, you want to buy a place to live in? You will have to borrow more because your cash is all in the investment property.This means more non-deductible debt. ie higher interest on your new PPOR loan because you had…[Read more]

There are some serious tax consequences with using a LOC.Since a LOC is a loan then you can get into trouble by paying into and taking money out of it. Each deposit is a repayment and each withdrawal is new borrowings.This means that if you ever used a LOC like this* for an investment property, or a property that may become an investment property,…[Read more]

bd01 wrote:
hello all .. I'm thinking of trying to boost my super through property with smsf .. an investment group is suggesting brisbane cbd but I don't know if I'm too old .. (just turned 50 .. but a young 50).  I'm very nervous about it .. should I just leave my super in the fund?  Does anyone have any "pearls of wisdom" please?

If you a…[Read more]

Yea i access the site on my iphone too. It seems to work ok.

lbluedento wrote:
My parents were discussing with me today whether there was any way to avoid a huge CGT bill on my inheritance from them. The inheritance will be solely from their property which is their PPOR. I saw on the ATO website the following Since 21 August 1996, if you inherit a house that was the 'main residence' of the person you…[Read more]

lbluedento wrote:
Was wondering that today too. If I put the money into my super will I pay less CGT on it that if it just goes into our account?

It may be possible to reduce your taxable income by making a deductible contribution to your superfund, and this will therefore reduce the CGT payable.

Whatever wrote:
This thread has been very helpful!I have a couple questions of my own.1. With the offset accounts, is it 1 offset account for each Investment Loan? Or is 1 offset account connected to more than one Investment Loan.2. How is deductable debt (interest) claimed? Do I receive something like a Group Certificate from the bank at the…[Read more]

http://www.centrelink.gov.au/internet/internet.nsf/filestores/modpt_1005/$file/modpt_1005en_p.pdfThis is the Centrelink notes for a private trust and the form needed to be filled out if you are associated with a private trust in anyway. It is very detailed and is 20 pages long.Testamentary trusts could even trap someone.

possibly.But in reality we are all beenficiaries of a number of trusts without knowing it. It would be impossible to tell centrelink something if we have no knowledge.Here is some more infohttp://www.centrelink.gov.au/internet/internet.nsf/publications/fis022.htmhttp://www.centrelink.gov.au/internet/internet.nsf/trusts/index.htm I have never…[Read more]

Even if they are not named they would still be a beneficiary and it would affect centrelink payments. If they won’t receive any centrelink payments then it may not matter that much. If circumstances change in the future they can always renounce their status as a beneficiary and then qualify. Some lawyers argue that this could cause a resettlement…[Read more]

If your parents intend to apply for centrelink benefits you need to be careful with trusts. Centrelink can deem the trust assets to be their own if they are a beneficiary or trustee or appointor or controller of a trust.

my mate just purchased a positve geared property in inner city last week. about a 11 or 12% yield. positive on borrowing 105% with huge potential for capital growth + reno possible to add on.

You will need a bit more than an extra clause.You will need a whole option contract which will run into many pages. You will also need a contract of sale drawn up which will be come into play when the option is exercised. You will also need a lease to tie in too.A good lawyer should be able to draw these up for you. If you do it yourself you will…[Read more]

my wrap kit still needs a home.free to anyone with a video cassette recorder!

Yes, the SMSF is a trust and could be a beneficiary of a discretionary trust. But there are many legal and taxation issues involved.

You could put an ad in one of the mortgage broker magazines looking to buy loan books. you may also be able to contact some aggregators who may be able to help

Ez wrote:
Thanks Terryw. So, would stamp duty be claimable if the property was in the ACT? Even if it's purpose was originally not as an IP?

I would think that if the property's first use was as an investment it should be ok, but not sure what happens if you live in it first.

That would be coming at a premium?If you just want a loan book there are many others out there.What is the going rate?They used to sell, a few years ago, for about the annual premium. ie if the annual trails were $100,000 you could get it for $100,000.