Only lawyers can give structuring advice. Top lawyer would be cheaper.

Here is an article that i wrote

Parents Helping Adult Children

Many parents want to help their (adult) children financially. The common way they do this is to just either hand over a large sum of cash (or bank transfer).

There are 3 main issues to consider before doing this:

Bankruptcy of either parent or child…[Read more]

If it is a gift then no. if it is income disguised as a gift then yes it would be taxable.

Think asset protection upon bankruptcy, death, incapacity and family law.

A loan is usually better – doesn’t need to be at an interest ate.

Neither gifts or loan proceeds are taxable.

Its income as money recovered. Just claim the amount you paid.

The only way to pay less tax is to have a lower taxable income.

2 ways to have a lower income are
1. earn less or
2. claim more deductions

Earning less could be
1. working work
2. spending on things that are deductible
3. salary sacrificing into super

Why buy to only sell. Why not just keep.

This is known as buyers remorse – most people suffer from it.

s43 Duties act – no mention of love

You wouldn’t want to transfer it for love and affection as you wouldn’t be able to claim any interest. Asset protection issues too. You need to buy it for full market value.

Depends on the state. In NSW and VIC = no. In QLD maybe, it depends on how the trust is structured

They can’t. But a company they may control could pay them. Why do you want to pay yourself a wage? This is taxable in your hands. If you have a company that owns property and it pays you all the rent it will be the same, income wise, if you owned the property.

I have never heard of this happening before – thanks for the warning.

CGT and stamp duty on the transfer. new loans.

And trusts cannot retain income without paying top tax rate.

You cannot contract with yourself and your cannot ‘retain’ profits – you make money, it is yours.

If there was another entity then it could pay you = spouse, trustee, company etc.

Are you running a business? separate entity?

If not you cannot pay yourself a wage.

in that case I would say they are capital costs.

NEver heard of a bank charging for phone calls or faxes.
If they are fees charged by a lender then they possibly could be borrowing costs and claimable over 5 years.
Best to seek specific tax advice.

Sorry, you have sold your property. So these appear to possibly be fees in relation to the discharge of a mortgage and loan.

NEver heard of a bank charging for phone calls or faxes.
If they are fees charged by a lender then they possibly could be borrowing costs and claimable over 5 years.
Best to seek specific tax advice.

certainly not deductible but shuffling money around.
Max possible to claim would be $370k, but could be much less.