I was just thinking you may be able to save some tax by getting a low income earner to lend to the trust – but so many things to consider it may be not worth it for a small amount.

fraud is a dishonest act done with the purpose of deceiving. Rebates are offered all the time for the sale of many products – i just bought a laptop with $100 cashback after settlement.If you tell a lender you are buying for $X, but are buying for $Y, that may be a different thing. You are deceiving the bank into lender more – and obtaining a…[Read more]

It depends on what you want to do. If you just want to do tax returns, then a you just need to become a registered tax agent – no need to join either.

nothing.

Westpac can stil lend up to 85% without LMI in some cases.

Asset protection.If you use a discretionary trust, the asset is not yours, the trustee holds it on trust for the beneficairies. So if you are sued, in most cases, the asset is not part of your estate for the bankruptcy trustee to grab.Tax savingsThe trustee has discretion (in a DT) on how the profits may be distributed. Usually you are able to…[Read more]

It seems they are just trying to rip people off. Arbitrage does seem to work in theory, but maybe it is harder in practice. – You would need to have accounts with up to 60 bookmakers throughout the world- you could have profits eaten by bookmaker commissions and funds transfer fees, currency conversion fees etc- Any spread on the bets may…[Read more]

The only potential problems is with 5. this plan will only work if you take the money from step 1 as a separate loan split. Otherwise you could not attribute all the money you pay back to the investment portion.

hi godnot sure. RAMS were popular a year ago, the had a good No Doc loan – one up to 80% lvr and low doc loans up to 85% lvr. They have their own mortgage insurance company too which is handy if u max out on low docs with the others.

Hi JamesThe money given to or loan to the trust wouldn't be income so i don't think it should be distributed to beneficiaries – as they may have to pay tax on it! it would just be an asset of the trust and can be invested in a bank account until you want to spend it.I was thinking maybe you could give the money to a low income relative and they…[Read more]

The ATO looks at the purpose of borrowings, so your $80,000 borrowed for the deposit on the new PPOR wouldn't be deductible. Only the interest on the existing loan balance excluding the withdrawal would be – if the place is rented or you are attempting to rent it out.Setting up a structure now is not going to help you as you already own the house…[Read more]

my guess is that they are not passing on the full rate cut as it costs too much too leave!

leoau wrote:
If I refinance the investement, and start claiming the increased interest – will ATO ask me what the hell is happening? As I said it is a positively geared property, and I need to redraw 200K, so, it will be significantly negatively geared one – will ATO start questioning me? I am probably being naive here, but can I claim that…[Read more]

Interesting question.legally you maybe acting as trustee for his share. Has he been declaring the income in his tax return?

A loan is due to be repaid to the lender at the end of the term. So if the lender goes bankrupt, the bankruptcy trustee can get their hands on the loan.A gift is not due to be repaid back. However, they can be clawed back for a limited period if the intention was to defeat creditors.If you lend money then you will probably need to charge interest…[Read more]

Hi HThey told me i could make up to 5% per bet, which if is a hell of a lot if you make one bet per day.I have done some more research and it seems this company is changing its name a lot – or new companies are being set up all the time. Seems like a lot of people pay their $8k and then the software stops working or doesn't work at all and they…[Read more]

Hi JohanNope, i am in Sydney.

Any profit from the CG is added to your income after deducting expenses and the 50% discount if held more than 12months. So you would be paying some tax, but it may not be too bad when you consider it will be a max of 24%

ING down by 0,55%, ANZ too.St George – still nothing yet!

Biggest problems:- Offsetting any losses from the trust- Losing land tax exemption for PPOR- Losing CGT free statusAre you moving to the acreage?  if so you may be able to claim the land tax exemption and CGT free status on this property (if under 5 acres)