I have looked at this idea before and it doesn’t really appear to be worth doing, unless the place is your temporary home. The reasons being:
– Trust must have other income to offset (unlikely for most people)
– If Unit/hyrbid is used, the ATO doesn’t like it
– May have to pay land tax, where you otherwise wouldn’t
– Must pay CGT if sold (and…[Read more]

I am not really sure of the difference.

There are a few law sites which enable you to search via the lawyer’s speciality. I will try to find one for you.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

Hi Nathan

It does not necessarily follow that cashflow positive must be older cheaper homes in country areas. It can be done with newer homes in major cities (with growth potenital).

one way to solve a ‘problem’ would be to convert a room into a bedroom. With the right house this could be done on an old or a new property. Adding a room could…[Read more]

Steven is right. I missed the fact that your loans are cross securitised.

The only way to avoid LMI is to have the LVR under 80%.This is generally hard in the beginning but gets easier to do as values start to rise.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

Let us know what happens.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

Why not? It happens all the time with those house and land packages and sometimes with units off the plan.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

I just replied here:
https://www.propertyinvesting.com/forum/topic/18030.html

I am not sure how it works in SA.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

Be careful. It may depend on which state you are in. I hear WA is very strict in this regard and many people have been hit with double stamp duty. It may also not work in QLD unless you are careful.

I think the company would have to be setup before signing and the trust would also really need to be setup before signing a…[Read more]

There is no stamp duty payable for trusts settled in QLD. I am not sure how it works, but maybe all you need is a settlor that is living in QLD?

It would be possible to just copy a trust deed, but keep in mind these are copyright, and they are updated and improved all the time. Also if there is a mistake in the deed and you have used a copy, who…[Read more]

For a few years now Centrelink has been looking at properties own by trusts and companies. One someone contols a trust, then the assets of a trust will be treated as if they owned them themselves.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

For setting up a charity try http://www.dgr.nsw.gov.au

You need to set up an organisation. a company/trust etc. with a formal document – a governing agreement with what the charity can and can’t do. If it is a trust, you will need 3 natural persons as trustees.

If you are going to fundraise, you must register as this is covered by the Chariable…[Read more]

Yes. Pioneer will do 90% LVR loans for Aussies.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

Actually Renton may not understand how Hybrids work going by that quote. It is true that losses cannot be distributed, but it may be possible for the interest to be claimed by the individual rather than the trust. If the trust was receiving income, but without the major expense of interest, it would then be making a profit. The interest would…[Read more]

Don’t forget that negative geared properties eventually become positively geared, so you could end up paying more tax if you purchase in the high income earner’s name.

Also there are pitfalls if you have a high capital gain and have to sell, there could be a huge capital gain which would have to go onto of the high income earners other income = a…[Read more]

When borrowing through a company, directors (and sometimes shareholders) will be required to guarrantee the loan. This will come up on your CRAA nearly always.

If you start a new company, the bank will still want guarrantees, and you will usually be required to inform the bank of other loans you have guarranteed personally as well as all personal…[Read more]

Yes, but if your are the potential purchaser it would get the agent out of the way. They can be annoying some times!

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

80% of your IP value is $224,000. That means you can borrow an additional $39,000 securred against this property.

To avoid cross collateralising the two loans, you could take an extra loan with your existing lender separate (ie split) to the current loan. Then you could go to another lender, using this as 20% deposit and borrow the…[Read more]

At least it will enable the purchaser to negotiate direct and to bypass the agent.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

Firstly don’t forget trusts. Companies are generally not used to buy property.

If you setup a trust it can buy the back block, maybe for $200,000. The proceeds could then wipe out the remaining mortgage.

The trust will be able to claim the itnerest on the full loan (for tbe back property).

If you use a company, you cannot personally claim any…[Read more]

Originally posted by pelican:

You ever heard of an “internal security act” which allows the govt to lock you up for any reason it chooses, with trial, without access to a lawyer……

I think our new ‘anit terrorist act’ enables ASIO to do exactly that!

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au