ZanCan you phrase that? Are you wanting to claim a personal deduction on the LOC interest which is on lent to the trust?

Matt. Good points, but…Transfers must be done at market value – or stamp duty and CGT assessed at market value. I think there are exemptions from Stamp duty in most states, but usually only for transfers of the main residence between spouses. Vic is one State which allows it done for investment properties. Purchasing it off the wife is an option…[Read more]

1. Up to the person vendor financing it. I imagine most are more flexible than banks, but many will not lend to someone who intends to rent the property out.2. Probably, but this would be rare3. 2 to 3%4. depends on your situation at the time and the LVR etc, but it is possible.

I don't think you can claim anything as it is not your property. Maybe you could pay your wife to do some sort of work for yourself so as it would be income to her and a deduction to you.

I would also like to know

It depends on your situation and which state you will buy in.Some reasons NOT to use a trust:- In NSW you may end up paying more land tax with a trust. – Losses of a trust are not able to be distributed so if your trust negative gears it may have a loss which you can't offset. If you purchased in your own names this may have saved you a bit of…[Read more]

I can't see any negatives (other than you are going into debt).Deductibility will depend on what each draw down of the LOC will be used for. If you only use it for business/investment then there shouldn't be any tax issues.

The company as trustee for the trust will provide the most benefits and flexibility.Trustees can be personally sued and this could lead to the loss of personal assets. Companies offer limited liability which will add a heap of protection. If you just use a company (without a trust) you will pay more CGT (no 50% reduction available) and it will not…[Read more]

Imagine X owns a house with heaps of equity. He suddenly gets a court judgment which is recorded on the credit file.He needs some money to pay the judgment, but he cannot get a loan now because of the blemish. He could be stuck.Now imagine if X had used a discretionary trust with a company as trustee. Initially he was the sole director and so he…[Read more]

You can add guarantors more easily, and if you have a company as trustee you can removal people from the loan (such as someone who suddenly gets credit impaired).If you owned a property in your own name there is little flexibility if you suddenly cannot qualify for finance.

in NSW units in a unit trust are dutiable property s11(1)(e)  Duties Act.But, under s34 duty on transfers of marketable securities is to be abolished on 01 July 2010). In the dictionary to this act 'marketable security' includes units referred to in s11(1)(e)Currently Stamp duty would be 60c for every $100 in value of the…[Read more]

with a dt the trustee holds property for a wide class of beneficiaries. The trustee then distributes any profit of the trust to one or more beneficiaries at their discretion. This flexibility can result in tax savings. And because a beneficiary has no entitlement to funds of the trust (until a distribution is declared) it offers great asset protection.

SMSF would be well worth looking at. Other than that a discretionary trust.

What is a banker  doing advising you, or pushing you, to buy a certain property?

Do both. I would fax it as then there is a record on the date and time.

“purchasing an investment property is about facts and figures, not about what it looks like”.True. But what if there are bikies living next door or a drug den out the back?

Don't beleive the broker, ask them for a copy of the conditional approval. If you do get approval on the 15th then the bank will issue documents, you sign and send back and then settlement is booked in. I have had clients who had run out of time and this was all done in 2 days – but normally it can take about 2 weeks. Banks also ask that you give…[Read more]

What you would normally do is borrow up to 80% of the land value and 80% of the fixed price building contract. You could have got the builder to build some of those finishing costs into their contract.If the house is finished inside and you have the occupancy certificate then you can always increase the loan (if you service etc) up to 80% of the…[Read more]

I've tried various software over the years, but think excel is the best. You can tailor it to suit your needs. Do one property per tab and a summary tab up front linked to all the others.