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  • Profile photo of TerrywTerryw
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    @terryw
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    January 13, 2005 - 2:23 am

    Hello Rob

    Sounds like a good setup. What about a unit trust as well? The unit trust would buy the property (the trustee actually) and the units for the unit trust would be the discretionary trust. That why you will be able to transfer property owned by the unit trust without paying stamp duty, under certain circumstances.

    Terryw
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    Profile photo of TerrywTerryw
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    January 13, 2005 - 1:48 am

    You could use your property here, using a LOC/redraw to pay cash and then get finance later.

    I suppose it depends on how much equity you have and how kee you are at investing. If you just use the Aussie equity, it would be wasted in the long run, as you would have an unencumbered property which could be used to make money.

    Terryw
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    Profile photo of TerrywTerryw
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    January 13, 2005 - 1:44 am

    Good Summary WTBnow. Make that complaint!

    Terryw
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    Profile photo of TerrywTerryw
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    @terryw
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    January 13, 2005 - 1:16 am

    The end price usually starts at around 20% more than current market value. This gradually reduces over time like a normal home loan – which this is really.

    Terryw
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    Profile photo of TerrywTerryw
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    January 13, 2005 - 1:12 am

    It can be OK for two properties, but when you want to grow and get more, it will be a hinderance.

    Terryw
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    Profile photo of TerrywTerryw
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    January 13, 2005 - 1:02 am

    Yes, you should be able to.

    If they say no again, just write a letter saying you are refinancing and request a payout figure. They will get them to change their minds most of the time.

    Terryw
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    Profile photo of TerrywTerryw
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    January 13, 2005 - 1:01 am

    Rob, why do you have to pick fights with every post?

    Terryw
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    Profile photo of TerrywTerryw
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    January 13, 2005 - 12:59 am

    what about
    http://www.gatherumgoss.com
    ?

    Terryw
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    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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    Profile photo of TerrywTerryw
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    January 12, 2005 - 5:47 am

    What purpose are you getting your property valued for? If it is for a mortgage, you had better contact your lender first.

    Terryw
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    Profile photo of TerrywTerryw
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    January 12, 2005 - 4:49 am

    Should be taxable in the year you pay it out. And you hsould be able to bring forward any other borrowing expense that you were claiming over 5 years – if not already claimed.

    Terryw
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    Profile photo of TerrywTerryw
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    January 12, 2005 - 4:15 am

    Gazza

    Sorry for going off on a tangent there!

    It would be CGT, then I would seriously consider holding onto that property as all future CGs will be tax free. Just hold on and let it grow. What else can you buy these days where there is no tax?

    Terryw
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    Profile photo of TerrywTerryw
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    January 12, 2005 - 4:10 am

    I don’t know for sure, it depends on which state you are in. My NSW solicitor told me their is not stamp duty on the transfer of units in a unit trust, Dale also mentions it in his book, but i think it is a little more complex than just transfering units.

    Terryw
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    Profile photo of TerrywTerryw
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    January 12, 2005 - 4:07 am

    Yes you would have have pay her rent so she could negatively gear it.

    Terryw
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    Profile photo of TerrywTerryw
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    January 12, 2005 - 4:00 am

    Whatever.

    Terryw
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    Profile photo of TerrywTerryw
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    January 12, 2005 - 3:48 am

    Remember Rob that 2nd mortgages buy the vendor can be any LVR, even going over 100% if you can negoitate it.

    Terryw
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    Profile photo of TerrywTerryw
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    January 12, 2005 - 3:42 am

    Dear Belitted Rob

    Maybe due to your lack of experience you have not heard the phrase used by lenders before? It is a common term, and has nothing to do with securitisation.

    I will not belitte you anymore, you do that well yourself.

    Terryw
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    Profile photo of TerrywTerryw
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    January 12, 2005 - 3:33 am

    The trouble is the legal fees are ususally more than you save!

    But if you use a unit trust to own property, under certain circumstances the units can be transfered and stamp duty avoided.

    Terryw
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    Profile photo of TerrywTerryw
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    January 12, 2005 - 2:51 am

    Lucifer

    I think you can even avoid Stamp duty in some situations if you have a good structure.

    Terryw
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    Profile photo of TerrywTerryw
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    January 12, 2005 - 2:15 am

    Gatsby

    I wouldn’t be too worried about putting properties into a trust at this stage. It would cost too much, and anyway, what are you worried about? Her damanging them? Maybe you could look at taking out a restraining order down the track. If she has keys to your house, then you probably should change the locks right away.

    Hope it all goes well.

    Terryw
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    Profile photo of TerrywTerryw
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    January 12, 2005 - 1:52 am

    Discretionary trusts are the way to go.

    Terryw
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    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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Viewing 20 posts - 14,021 through 14,040 (of 16,328 total)
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