You can both claim expenses in proportion of ownership

Accountants shouldn't give asset protection advice as this is legal advice. For example, they are not trained in litigation, or family law or succession. Solicitors are trained in this area.

3 simple examples:

1. Insolvency. A company without proper records will be deemed to be trading while insolvent. Directors of a company trading while insolvent will be personally liable for the debts of the company and their personal assets at risk.

Unpaid present entitlements are another big one. These build up over the years if the trust doesn't make a distribution and this will great all sorts of problems, including weaking asset protecition.

2. Discretionary trusts won't help much in a family law situation. No to little asset protection.

3. A property held as Joint Tenants doesn't not form part of the estate, but passes to the sole survivor. This can be attacked.

Trusts don't form part of the deceased's estate, but in NSW trust assets can be deemed part of the estate under the notional estate sections of the succcession act.

5. Just fill in the form and lodge at the land titles office and pay hte fee.

Tom,

2. Asset protection from what?

3. No, Australia totally different to US

Any mark up etc is up to you and up to how good your negotiation skills are. As much as you can get.

I

n my view, if there is going to be capital growth you don't want to be selling an option.

Bruce – this is def wrong. You cannot benefit from Artwork in your SMSF. It would have to be stored away from where you could look at it. Enjoying it would breach the sole purpose test – which is to provide for the retirement of the members, not the enjoyment before retirement.

But if the property is neutral or slightly postively geared how are you going to make a profit out of it? You would need a big back end profit when they cash out the option.

I have done a few of these and the 'tenants' make much more than the buyers.

They only way you make money is if they don't take up the option for some reason.

Neil,Y

ou shoud see a professional. You need to work out the deductibile portion and then you should split the loan. Take the terms of your settlement with you. This is likely to be considered a private expense, but depends.

Taking tax advise from a guy a HR is like taking nutrition advice from a staff member of McDonalds.

I can't believe the things people do! But it happens. One accountant told me one of his clients purchased a residential house in his SMSF and moved into it!. Accountant refused to have anything to do with him after that.

Not its not – or I hope it is not. You can have separate loans but still cross collateralised. (crossing is a bad thing!)