too hard to sell company title.

I beleive company title is just like buying shares ina privately owned comany. each of the other shareholders may have a say on who they will accept for the new onwers.

I think about 70% would be the max LVR for these.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

Hi Chris

Are you sure about that? I thought legal fees were considered part of the purchase costs with stamp duty, and could only be claimed when the property was sold.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

What about leaving the money overseas and borrowing it. The interest may then be claimable in Australia in the borrowings were used for investment purposes.

There are various rules regarding these matters so get advice from an offshore specialist.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

BJ

What about this one
http://www.hastingscapital.com.au
8.25%

or

http://www.eurofinance.com.au
8.75%

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

Bear,

this may not help, but I picked one up at one of those auctions for about $200. They are held every week up here in Sydney and advertise in the SMH.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

Rodster. I had the same problem after i set up my first trust – the conveyancer just told me off for not knowing what I was doing.

Now I know that the trustee buys the property in their name on behalf of the trust. The title is therefore in the name of the trustee. The trust minutes document that the the trustee was buying for the trust.

However, I am not sure how the state revenue office know about it. Trusts don’t get any tax free freshholds on land tax, so i suspect there must be a way they find out if property is purchased in trust.

If your looking for advice, chris batten looks good (www.chrisbatten.com.au) – I have heard he charges about $400 per hour, or I would try Dale GG in Melbourne, as you can do everything via phone or email these days. Ditch your accountant if he is not sure-otherwise it could be costly.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

Hi

Trusts cannot distribute losses-they can keep the losses to be offset over future gains. But you may be able to get around this by using a hybrid trust and borrow to buy units in the hyrbid trust. The highest income earner would usually borrow to buy the units and claim the interest as a tax deduction on their personal income. the trust would make a profit (as there is no interest to claim) and this could be distributed to the lowest income earner.

Tax laws are changing all the time, so this may change.

For more info check out Dale Gatherum Goss’ Trust Magic and http://www.chrisbatten.com.au

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

Comdom

I don’t think it is possible anymore. You used to be able to get to the money by setting up unit trusts and the like, but the rules ahve been tightened. there is some good info on http://www.chrisbatten.com.au

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

Fudge

I’ve had a quick play around with the spready and it looks pretty good. One suggestion: what about some sort of summary page so that we can see the net overall cashflow from all properties owned etc?

And thank you for offering it to everybody.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

Also consider if you can somehow use the new rental property for your business somehow – eg home office etc. You may hten abe able to claim part of the rent as a deduction.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au