We do quite well on what we earn and manage to keep a $350-400K house quite nicely – we also have kids.
The reason we don’t struggle is because we don’t incur credit card debt – and we don’t work regular jobs. If you work for someone else then you are limited to what you can earn – if you are a wage earner then you don’t get the tax breaks that…[Read more]

oh yeah and thanks TERRYW – I guess my company is a beneficiary too:) I never thought about it that way before.

P

I was told by my accountant that the trust would be taxed at individual rates if my company dividends the trust.
The only time it is not taxed is when I put my own after tax dollars into it.
A good ref guide is “Family Trusts” by NE Renton.
The problem with using the trust directly is that it doesn’t have enough history or assets yet for the…[Read more]

It’s not so much using pre tax dollars as not using dollars coming directly out of my own personal bank account – my company earns more than I pay myself and if the rest sits idle then I only end up paying corporate tax on it anyway.
I have a superfund and a family trust – the family trust is handy for protecting assets but is taxed at individual…[Read more]