I think you could get away without paying CGT this time, by claiming you last place as the main residence. But if you ever sell the current main residence, you could not claim it as your main residence from the date of purchase until you sold the investment. Can only have one main residence at one time – except for a 6 month cross over period.

So you should probably look at which one has gone up more, and if you are ever likely to sell the current one.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhomeloans.com.au

I’ve spent a few 10s of thousands at seminars over the years, and would have to agree that there is nothing out there in these seminars that you can’t find in books or forums.

But it is not the same. Going to a seminar can really motivate some people, and this could be worth thousands itself. Others can be motivated by reading books too though.

It can help also by hearing something explained rather that reading about it. You tend to get more info at seminars and can learn from others questions.

Then there are the people you meet and the connections you make on the seminars.

Just don’t pay too much for them when you can’t afford it.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhomeloans.com.au

Woodsman

Someone else has mentioned this before – you should have used the search function!

ONLY JOKING

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhomeloans.com.au

Make sure you speak to a solicitor. In NSW you could be up for stamp duty again if you nominate an non related party. I think a spouse would be OK though.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhomeloans.com.au

I almost forgot, Steven (Mobile Mortgage) from this site is also in Melbourne – I think.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhomeloans.com.au

Try lawyer, Lewis O’brien in Victoria. I think his website is http://www.lawyer4nix.com.au

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhomeloans.com.au

I think Derivex was offering 95% for commerical???

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhomeloans.com.au

You should probably get a second opinion. Most accountants know little about trusts.

Firstly having two directors of a company these days is not a good idea. Directors can go down with the company, so it is best to have one, just in case… No use both of you going bankrupt if sued.

Having one director will also mean having only one of you guarrantee the loans – another risk reducing strategy. It will also help you borrowing capacity later on. You don’t earn much ATM (assuming you only work one day) so it may not help much with servicing now.

So two directors is not good.

Having a discretionary trust will also not enable your husband to reduce his personal tax as per Woodsman’s post above.

You may be able to keep the losses to offset n the future, but that could be years away.

Talk to a different advisor!

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhomeloans.com.au

check out http://www.chrisbatten.com.au for some more stuff on SMSFs and buying property.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Click below to email me

I’ve used them to set up two trusts myself.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Click below to email me