You don't have to buy a cheap shack. My mate is constantly buying properties in Sydney that are returning 10 to 12%.

My view is that you shouldn't be worried about the tax side, but about making money. It would be ok to buy something negative geared, but only if it is going to jump in value. There is no point in buying any old unit just with the hope that it will go up. That is just wishful thinking! You need something special. And the higher the rent the better. Also don't just buy something because it is postiive cashflow. You need something that will rise or you will end up losing money.

Tax can be reduced in other ways and will get easier as you get wealthier.. eg you may end up buying in trusts and then use contributions to super to reduce your wage down a lot. And then live on the trust income.

He will just have to contact them and ask to change the beneficiary. They probably have a form to fill in for that.

But he should get some advice on who to leave it to and how.

Thanks Nathan

Sounds really good.

Great stuff Nathan.

How does the deal finder work? Is that a buyers agent service?

Yes, but if the testamentary trust is a discretionary trust then the trustee may have discretion to distirbute the proceeds to a wide class of people. You could have a separate trust in the will for the insurance, maybe a unit trust with 50/50 to the spouses, or a separate discretionary trust each with half the proceeds so then each spouse have have the tax effectiveness and full control

I assume you are talking about life insurance?

You could have the insurance paid to a beneficiary or into your estate. If into the estate then you could direct it to a testamentary trust. If directly to a person then no asset protection – eg what if they are bankrupt at the time you die. Getting it into a will or testamentary trust will enable tax effective streaming to kids at adult tax rates.

But leaving it via a will could mean it will be at risk if there is a claim on the will – such as a family member left out, new spouse, mistress etc.

First thing would be to read your lease agreement and see if the land lord is breaching any of the terms.

If that cafe is really making people sick then surely the food inspectors would have something to do about it. They would be fined for repeated problems.

Go to the land titles office and do a search under their name. Then conisder there may be more than 1 person with that name.

If you want to find company owned properties then you will need to do a seach with ASIC and find all the companies in which they are a shareholder and/or director and then do land titles searches on each of these companies.

If you want to find out houses in trusts then for houses which they are a trustee or have an interest in the trustee company do as above. If you want to find out trusts in which they are a beneficiairy of or a unit holder of, then you cannot as trust deeds are not registered. eg. If you buy a house for me as trustee – no one can search to find that I am the beneficial owner.

Just make a list of all assets and liabiilities and what you want to achieve.

Make a separate list of trust assets and liabilities, one for each trust.

And make a list of super assets – each funds separate.

Also, list any insurance polices and who the beneficiairies are.

The solicitor should do the rest.

Consider too
– business succession plans
– Enduring powers of attorney
– Guardian of minor children

Yes, The good part is that you don't decided now, but when the estate is being administered.

Or you may want to take the PPOR as your PPOR because you can get the land tax and main residence exemptions, but you may want the rest in a trust for tax minimisation.