Yes, many do that.Stevo – I think those figures for the stamp duty may vary from state to state – those figures look like for NSW.

Banker, I started going direct as well. I agree that it is much easier -It was so hard dealing with the broker channel. – But now am no longer in finance.

Why not just use a broker

There is no use in just buying something for the sake of it. Especially if it doesn't perform. Also not tax effective to put down such a large deposit and pay off the loan so quick. What about if you want to buy a place to live in later on? You will have no cash left so will need a large loan – which won't be deductible and you will be paying tax…[Read more]

Solomon10 wrote:
I have heard you can sell your PPOR up to 6 years after moving out and not pay any CGT, not sure if this applies if you have a new PPOR though.

it could possibly apply – though CGT would apply to the 2nd house during the overlap period. Which to claim may depend on growth during this time – chose the highest growth property as…[Read more]

St George may do it too.

I went to sell a property once and found out it had never been transferred into my name! 2 years after the fact. ANZ bank never registered the transfer.

Thack wrote:
Is there anywhere the outlines the different rules that apply to Trusts or different structures & tax strategies for investing ?  Any book you could recommend ?

I think you will find it is way too complicated for a book to cover it all and be up to date. Things, especially in tax, change rapidly.You will need a good law book to…[Read more]

A trustee company means it is the trust that is conducting the business.Yes very dangerous to have a business and a property in the same trust. I would advise against this as if the business is sued, you will lose the property.

Yes, that is a good point JJ

Sound nice. I dream of owning 100+ acres one day!

Not really correct. A company is a separate tax entity to a trust. Each is a separate person for tax purposes and has to file its own tax return.If your company makes $50,000 profit and a trust looses $50,000 from negative gearing, the company income can't offset the loss of the trust with the net result an income of $0.What will happen is the…[Read more]

Just keep reading and maybe attend a few seminars – but don't bother wasting money paying for any at this stage.Remember only a fool learns from their own mistakes, a wise person learns from the mistakes of others.

young n wrote:
Terry, are you sure there would be no tax payable if my mother simply moved $300000 from her account into mine?Terry, where can i find detailed infomation about discretionary trusts? I would have a hard time finding a place in darwin that i could buy outright for $300000. I could probably find an older unit, for 400000 or s…[Read more]

Its not really the price at issue but the size of the property. Depending on whether it is income producing etc you may need 40 to 50% deposit.

Never mind, the interest on $30k won't be too much. Just don't pay down any more.

Which state?Tony Cordato in NSW, Sydney.lewis O'Brien in Vic

i find it very hard to read capitals, so i only skimmed it.Did you say you are casual? then how do you plan on getting finance for this?I would suggest you also look at using a discretionary trust for asset protection and tax flexibility. This will also help with the getting of finance by allowing you to easily add people to guarantee loans if…[Read more]

There is no such thing as gift tax in Australia???

Paul R wrote:
How do you come to that conclusion?

size!