Thats your first problem – not using a lawyer.

Why are you being issued an invoice if you are paying a deposit.? Where is the money going to?

My bank is willing to lend me up to 80c to buy that land. I am looking for a JV partner to finance the remaining 20c.

Stamp duty must be more than the land too!

Is it a good trust deed? Does he know what he is doing?

You say you want to borrow $340,000 on a place valued at $350,000  and will be selling a house for $560,000 with a mortgage of $350,000.

The sale should net you $200,000 which you could use for the current purchase.

Could be doable from equity pov. Income seems ok too.

Best to speak to a broker.

I think the 6 year rule could still apply if you are a non resident. But CGT is generally more for a non resident because no longer get the 50% discount.

And watch out for non land based assets such as shares. Becoming a non resident could trigger CGT as you are deemed to have sold them at that point.

After using the new site for several weeks now my overall opinion is that it is that of all the forums that I write on this is the worst in terms of setup. Software maybe.

I much perfer the set up of somersoft forum. Not the content (well content too) but the actual board softtware behind it.

Its silly to pay down an investment loan while you still have non deductible debt, even if your investments are in trust and you have no income.

BTW, an adult can earn about $20,400 pa and pay no tax.

Trusts can distribute from one to another, but you must be careful not to distribute to a newer trust as you could infringe the laws against perpetuities. Also the income to the recipent trust cannot be offset by just spending it, but can only offset it against expenses.

I am concerned about people just buying inferior properties because they are 'cashflow' positive. Over the years I have seen many people do this. One went bankrupt.

Cashflow positive is largely irrelevant. What you want is a good property that will make you money long term. What is the point in buing a property than brings in $20 per week if it doesn't go up in value. What happens when the hotwater system breaks, or a vacancy or rates go up.

There is no point in buying a property just because it puts $100 pw in your pocket. You need to consider whether there is growth potential which is much more important.

changing names would trigger CGT and bringing money into Australia is generally not taxable so working or not doesn't really matter. For further investing it would be worth considering though.