Mistresses (and the male equivalent?)
cousins
step children
step grand children
adpoted children
any company in which a beneficary is a shareholder, director or secretary
any trust in which a beneficiary is appointor of, trustee or or unit holder of
etc

Most deeds will be worked broadly so all these, or most, are included already

From lender POV, just be careful with naming beneficaries. Some lenders (the evil ones) require every adult named beneficiary to guarantee the loan. You may set up the trust so the wife has nothing to do with it, but is listed as a benefiary by her name. The lender may ask for a guarantee from her. You don't want this as it will hurt her serviceablity and adds to your risk.

or worse . You could have set your trust up, gotten a pre-approval and then exchanged contracts. You then go for a full approval and then the lender suddenly asks for the details of Mr X, a son of yours, who is named in the deed as a beneficiary. X has bad credit and doesn't want to give a guarantee anyway. But the lender won't budge and refuses to go ahead without him giving filling in an app form and giving the guarantee. This actually happened to a client of mine with a lender called RAMS. We quicklyhad to rush another application in with a different lender nad he nearly lost his deposit.

Yep, there are many out there. rates around 9%+ depending on the deposit etc.

I am sure he would be. He is the most knowledgeable tax expert i have encountered.

Not sure how that would be treated in tax. If you do it make sure the funds in the offset are not tained by mixing with savings or connection with borrowing the money and the later investment may be lost.

Why not just increase loan and get the money out and then pay back into the loan.  Redraw later when needed (make sure it has redraw first!). Or set up another offset on another account – and then use only for these funds.

THe LOC would be easier – the extra rate may not make that much difference – and you may even be able to negotiate a discount.

Never trust a real estate agent. and never use a conveyancer. It is your responsibilities to check these things.

try Mike at http://www.guardianpartners.com.au

You should probably be able to over come the PSI rules to some extent. You should probably seek out another opinion from another few accountants as it could save you a fortune. Something simple could be to form another trust which could operate as a service trust supplying services such as secretary, equipment etc and leasing this to the other trust – at a profit of course. This way money is diverted to the 2nd trust. It has to be set up properly and commercially for it to work.

Another way may be to get another doctor in for 1 day per week as a contractor and your husband go and work at another practice on this day – maybe the husband could be hired out supplied by the 2nd trust. This may help overcome the PSI rules and broaden the client base.

You can then set up a 3rd trust and purchase the property in this one. Profit from the 2nd trust could be distributed to the third trust to offset any losses.

needs careful planning

Hi Tugger

Youre LVRs are very high, you have low cash reserves and your incomes will halve in the comming year – sounds like it would be very risky to attemp another one. Unless maybe you could go back to work full pay if things suddenly go bad.

nope. much different in nsw. From memory it is stamp duty exempt from one spouse to both spouses but only for the main residence.

What is it?