Do some sums. Work out all the CGTs and selling costs and try to calculate if it is worth it.
 

Corine

Do the sums. If you put your cash in the offset you will save the same as the interest on the loan – about 6%, but since your deductions are less you will pay more tax. If you put the funds in a high interest bearing account you may get around 4%, but will have to pay tax on this.

Little chance to get a loan for a business without using property as security. It is too risky.

Are you sure you can avoid GST? The land and house will be new.

have a look at the PDF booklets at http://www.bantacs.com.au there is one called something like "how not to be a developer."

No you would have to go back and amend the year in which you forgot to declare. There is a special form you need to fill out which you can get on the ATO site.

The last time I looked most dips were for the 4 basic subjects, this was the min qualification needed to act as a fin planner. Then the advanced diploma hd 4 more subject. Grad dip is similar to a diploma, but sounds better – probably not really better – because you would need another degree to get in.

Masters degree would be the best – but these are often the same subjects as a dip, advanced dip + plus a few more.

I think it is a good idea to rent while owning – especially if it will result in savings. You can still claim the CGT exemption on one property so there is nothing to lose – other than the hassle of moving etc.

I would prefer LO over wraps for a few reasons:
1. you are not assigning ownership until the option is exercised
2. easier to get finance
3. LO can be set up in many different ways.
4. maybe easier to kick out the tenant
5. if things go wrong, no issues about ownership of equity.

Yes sad about SIS. It must be about 4 years since he died. I never met him, but knew a friend of his and heard all about his investing stories did see a picture of an amazing tattoo he got on his shoulder.

I think you should definitely have one property in your own name as your main residence so as to utilise the main residence CGT exemption.

After that I think you should seriously look at discretionary trusts, mainly because of the long term tax savings and flexibility. The asset protection is a bonus.

So rather than relying on others why not sit down with excel and work out 2 scenarios – 1 buying with a trust and 1 without and do some projections and see what differences it makes.

Land tax is a large tax to pay – but after you get a few in your own name you will use up your threshold anyway and will be paying the same whether in a trust or not.