Hi Carlin

I’m not suprised your confused. Unfortunately, there are a lot of accountants (and solicitors)who just don’t understand trusts.

Suggest you buy yourself a book (Dale GG’s is a good little read)or McKnights Wealth Gardian to bring yourself up to speed so you can talk the same jargon.

When it comes to HDT’s there isn’t a huge amount of…[Read more]

SC7

Asset protection and flexibilty (income tax and stamp duty) is the issue.

A partnership/JV or whatever you want to call it of trusts (the most flexible being Hydbrid discretionary) goes a long way to solving most, if not all of the issues. Combined with a deed of partition on the title you have the flexibilty of some partners wanting to…[Read more]

Hi Carl
I enjoy reading your posts as they often get me thinking…

As I see it we get 2 types of clients, those that want watertight guarantees and those that understand the risks involved with tax and are prepared to run with those associated risks.

If you “need to know this for sure” then my advice to you is to get an ATO ruling on the…[Read more]

Sparky

An architect is a just like a hammer in your toolbox. Along with a surveyor, town planner, drafts person, consulting engineer (hydrolic, structural ect), landscape architect and the list goes on.

In engaging an architect they ought to be able to pull a team together to assist you in achieving your vision. Of course they can then…[Read more]

Hi Chelley

Sounds like you have stalled and it could be for a wrong reason. Could be worthwile taking to one of the larger banks relationship managers or a broker.

For what it is worth, we are with a great business banking manager with NAB and she is really part of our team. 15 months ago at the bank Christmas drinks she mentioned we were…[Read more]

H
You made a profit well done.

However you are going to cost yourself ,000 of $ in overpaid GST by self preparing your BAS.

By all means read up on the GST Margin Scheme on the ATO website but get your accountant to review your BAS’s. the money will be well spent.

Regards
tony

Just read Ed & Tony’s new book and is a good place to start.

regrds
tony

Hi Sweet

The book that kicked me into gear many years ago was a little one called “Buying property with OPM’s” by Allan Falkner (?).

The thing that I noticed between those books from say 20 years ago to now is the current ones often just seem to be marketing tools to onsell other services….. Oh well the world has changed.

Regards
tony

I reckon its more of a case of going against the Australian dogma of home ownership. I don’t bother even trying to explain anymore why we rent when people ask us who also know we have a property portfolio. It’s a bit like trying to teach a pig how to sing, your wasting your time and you only annoy the pig.

Regards
Tony
PS the only tax break on…[Read more]

SG

the easiest way to gain the certainty you are after is to apply for a private ruling from the ATO. These are quick and easy to do. And you have it in writing should get an audit at a later date.

Regards

Tony

No.

It’s easy to sell your reputation but you can never buy it back.

Regards
Tony

Dave

Any truth in the rumour you guys are bailing out of Buffalo?

Regards
Tony Young

Hi Carl

The losses carry forward until you can offset them with income (both normal and capital). Check with your accountant the Family Trust Election requirement.

Regards

Tony

Concrete?

Hi Michael

My wife Bonnie will be the first to agree that only 2 years ago she struggled against coming on board the journey to become financially free.

Looking back now she would say she thought it was my role to do the finance stuff and whilst she had 2 degrees and a great career (a geologist) she threw it in to raise our boys, (now 3, 5 & 7).…[Read more]

Hi

Your absolutely right resiw, always best to negoitate before running to a solicitor. (I do have a relationship of many years with mine and trust him and his firm without any doubt whatsoever)

However, having exhausted all options to negotiate directly with all the 3 downstream nieghbours (for an easement) and with the council engineer (to…[Read more]

Originally posted by Mortgage Hunter:

I believe another popular strategy is to sell one and keep one with selling proceeds going into the loan which leaves you with a very pos geared high depreciation IP. From contract to contract being approx 12 months this leaves you with the 50% discount on CGT.

Hi Simon

Couple of traps for young players…[Read more]

Originally posted by resiwealth:
My question is why the council never allowed for this or did they in their overall development plan.

resiwealth

Block is in beachside suburb originally surveyed in the 1920’s when no one wanted to live there where as now almost everyone does. So only recently the council just threw a high density zoning over…[Read more]

Hi Terry

What can I say, some people will just never get it.

A private ATO ruling, based on the facts of the transaction is a cheap insurance policy for those who seek certainty. It turns opinion into fact.

Regards
Tony

Hi Terry

Carl said

“Hi guys

I’m considering the following scenario:

I draw some equity out of a property I own and lend the money to a discressionary trust that I contol.”

As soon as I hear this warning bells go off. Two reasons. Firstly case law is very clear on this matter. Secondly, methods to circumnavigate are costly (legal fees and…[Read more]