Actually not all managed investment schemes need to be registered. If a private investor is just borrowing money, then it may not fall under a managed investment scheme either.see the definition under s9 of the corporations acthttp://www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s9.html#managed_investment_schemeRichard, it would be the…[Read more]

a tort is a civil wrong which may entitle the wronged to sue. It seems the organisers of the scheme probably will have no money or assets from which to recover money so even if you win you won't get any money from them. But it may also be possible to sue others involved such as the banks and the valuers – if they over valued the properties. The…[Read more]

mjjg wrote:
Hi, We've just bought a second house. We wil be moving out of our current house, which we own – with a mortgage. We intend to refinance. We will definitely go to interest only on the invetment property (our current house). I have always believed that banks would lend up to 95% on an investment property and that it was possible to…[Read more]

Have you lodged your PDS with ASIC?

To work out equity:Equity = Value – loansEquity available for use would be, keeping LVR at 80%:= (value x 80%) – (existing loans)Crossing your loans will hold you back and not allow you to borrow any more. Best to uncross them asap, and especially become you buy another property and they become even more tangled.

Bankruptcy is possibly a good solution. You should speak to your lawyer about this asap.

I would be careful about getting the utliities in your name. If they don't pay the utility company will come after you, then you will have to chase them – extra hassle.

Shape wrote:
Hi steve, There's a lot of numbers there- i will have to sit down and work it out and post back later – bur for now i will answer your 4 questions. 1. Trust is quite simple- it's similar to a company, but the pit fall is WHICH type of trust you want to open and What structure/how – this will have a huge bearing in term of your…[Read more]

mattnz wrote:
It definitely sounds like you are trying to get maximum potential upside while exposing your parents to huge potential downside. You should make your first priority removing your parents risk in your investments before even looking at expanding your own empire. Also note that when your Aunt started building up a portfolio,…[Read more]

beanz wrote:
Terry does ' paid down the loan' mean the same as 'amount paid in advance'? So if I have paid in advance on a IP and decide to buy a PPOR and use the paid in advance money towards the purchase of the PPOR I cannot claim the interest even though the loan is tied to the IP?

Any deposit into a loan is a payment and any wthdrawal is…[Read more]

there is an accountant on this forum. Dan the man with the Disco Stu avatar.

If your trustee is trading then it is a trading company – it is just operating as a trustee. The tax return is a separate issue. A trust will need to lodge its own tax return and the trustee company will also need to lodge a return, but if it doesn't trade in its own right then it will not have any income.You can't backdate legal documents. And,…[Read more]

Sounds like you need some advice!

If you keep paying PI you are locking your cash away in an investment property. This not only decreases deductions but prevents you from accessing that cash for private usage without adverse tax consequences.eg imagine you had paid down the loan by $100,000 and then you decide to buy a new PPOR. You cash is locked away. You may take it out via…[Read more]

Scott No Mates wrote:
bit of a bee in the bonnet with Conveyancers today Terry?

Ha ha. Yes, my second post bagging them!I actually am using a conveyancer for the sale of a property – but I am a solicitor and know the law so am just using one to to the actual conveyance – changing titles. Its not worth the hassle. But for the average person what…[Read more]

Best to see a good accountant that understands trust law and taxation of trusts. A deed with a bit of advice will cost you around $1000. There will be additional costs for stamp duty on the deed in some states (NSW $500) and company set up if needed.On going costs will be annual tax return for the trust – but this should not be so much more than…[Read more]

Be careful of the tax consequences of an improperly set up structure.

There is a chubby Indian guy based in Bahrain who might be able to do it:http://www.smh.com.au/business/30m-gone-jetsetter-accused-of-having-a-lend-20110302-1bexw.html

Why risk it?A property is a huge expense and a one off expenses.

Why use a conveyancer?? Looks like you have been caught out by a sunset clause. This was in the contract when you signed and you accepted it. You would have had the chance to negotiate a longer period during your initial negotiations.It is best to use a lawyer I think.