I have seen a few clients do this, but only between spouses. It can be done when there is a court order, on separation – without stamp duty and CGT. In NSW and Vic, it is also possible for spouses to transfer to each other for $1 stamp duty. I don’t know, or think, it would be possible with other family members.

It can help when one of a couple has credit problems which would result in a much higher interest rate. A transfer is done into the person with the clean record. They then get the loan at normal rates.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]

Just think long term. Having properties in your husband’s name may save you a bit of tax now, but these properties will become positive geared eventually, and if he is on the top bracket…..half will disappear. Also what would happen if you had to sell one of these? He would have to wear the capital gain on top of other income. Having a trust can help minimise this.

Insurance is good, but what if you go bankrupt? Trust assets may be safe.

There are also estate planning benefits with a trust. this could save your estate CGT and stamp duty fees.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]

The ATo can still slug you with CGT if they think you are in the busines of doing this. It would take then a while to realise this though!

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]

Principle Place of Residence.

The only way to avoid CGT is to make a house your PPOR. If you then move out and rent it, you can still claim it as your PPOR for up to 6 years. If you sell during this period it will be CGT free. You can only claim one PPOR (per couple), except for a period of 6 months when you may count two.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]

I do not like country towns myself. Some people have made good capital growth (eg 100% over the past year) and good cashflow as well. However, good growth in recent years may mean no growth for many years to come.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]

Richard

Just wondering why you would not do a LO in QLD? Is it the tenancy laws?

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]

Before you sack the agent, it may be wise to look into rents in general in your area. The one next door may be unusually high.

However, it is your call, you are the boss. If the agent is no following your instructions, then terminate the agreement with them. $50 pw is a lot of money.

BTW, each proeprty an agent manages adds about $2500 to the value of their business.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]

There is no doubt some are ‘scams’. I went to one years ago that charged $5500, they had a money back guarrantee so I took the opportunity to get my money back.

However, some of these courses can be useful – if you implement what you are taught.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]

I don’t understand what that post was about.

It appears you just try to attack anything I write.

You still don’t seem to be able to understand this idea of investors club. There are no fixed time rules, seven years is just the time it takes for the average proeprty to double (their figures). BTW, I wouldn’t say year 8 is the start of someone’s investing career.

They have not abandoned it, but have modified it in some way. I am not a member so am not sure how they have modified it.

And it is possible to keep on getting loans, even if you do not have an income or cannot substantiate an income.

You also wrote:
Again I must emphasise that anyone who actually sits down and plans to do this (UNLESS FOR RETIREMENT) should have their head read.

Unless for retirement? So it is a good idea it is it for retirement? Isn’t that the goal, to give up work?

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]