Don’t think Steve’s product has anything on Hybrid trusts in it.

For more info on hybrids go to http://www.lawcentral.com.au and go through the process of making a deed, and read all the tips available – all for free.

Also look at http://www.chrisbatten.com.au

Terryw
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I was going to purchase some land off the plan a few years ago and the solicitor picked up a few problems and I quickly pulled the plug on that investment. If I had used a conveyancer, they may not have picked it up.

However, conveyancers generally spend all day doing property transactions, so they tend to be good at this. Solicitors are often…[Read more]

NEVER beleive an agent!

Terryw
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just read the forum.

Terryw
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Hi

Have a look at this from the ATO site. it is in relation to shares, but the general principles would probably apply to property:

Holding shares or actively trading: what’s the difference?
http://ato.gov.au/distributor.asp?doc=/content/76071.htm

If you could be classed as a trader, you could probably claim stamp duty as an income expense in…[Read more]

Hi

You do not need a company to act as trustee, but having one would add protection.

Usually the directors of the trustee or the trustees themselves have to guarrantee loans of the trust. So having two directors/trustees will only create more risk by having 2 guarrantees.

Also beware of specificially naming beneficiaries on the deed. Some…[Read more]

Companies are generally not recomended for ownership of appreciating assets. This is mainly due tothe fact they do not receive the 50% CGT deduction for assets held more than 12months.

Being non residents, there maybe many issues with controlling trusts and companies and taxation of these, so you would need to seek good advice.

Terryw
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He may be able to negotiate the terms to include them not listing this on his CRAA.

Terryw
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Cash bonds are annuities. Steve Navra used to promote them a lot as a way of increasing servicablity.

basically works like this:
You buy a $100,000 annuity, payments over 5 years. each year you would get back around $20,000 plus interest, maybe $24,000pa.

With some lenders you could have used this $24,000 as income even though really only $4000…[Read more]

I beleive option fees are taxed as capital gains in the year of receipt.

Terryw
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Ok, you should probably get the valuation done on your property first, otherwise, you may come in short of funds if your valuation comes in lower.

I spoke to a loan assessor today at a major bank, and he said 80% of valuations for loan increases and refinances were coming in lower than expected.

Terryw
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There is no register for property. You need to determine which name to put the property in. ie your own, you and spouse, a trust, or combination.

When considering things, take a long term approach. Putting a property in the name of the highest income earner may give you more tax deductions now, but long term what will happen if your rent goes up,…[Read more]

You generally cannot borrow more than the house is worth. If you have the money for 20% now, why not borrow 95% and keep some money for renovations?

If you buy at auction, then the price you pay will be market price! It may be hard for you to get a valuer to value it more in the short term. If they do, banks will generally want you to wait 3-6…[Read more]

Originally posted by Cata:
. The down side is that you don’t get to accumulate any CG loses either which is more my track record with shares. [blush2]

I was going to say something similar. If you are overseas working, you could be classed as a non resident. If you make money here while classed as a non resident, you could be charged even more…[Read more]

Be very careful with written offers, if it is accepted, you could have a binding contract – which you may not be able to exit.

Terryw
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bantacs.com.au

Terryw
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There are two main LMI companies, maybe your current lender is only using one of these? Which lender are you using?

Terryw
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You can always withdraw your offer before it is accepted and submit a new one.

Terryw
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I beleive it is done by having a meeting between yourself and the trustee. You then dismiss him/her/it and then appoint a new one. This is recorded in a minuite of the meeting.

What you have to watch out for is, the new trustee will have to go onto land titles for any property owned by the trust, and new loans will have to be established.

But,…[Read more]

Often real estate databases often have telephone numbers for the property I used to subscribe to one, but it only had NSW properties.

Of course, this is only of use if it is an owner occupied ppty. If it turns out being a rental, you could try the white pages, etc.

Terryw
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