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  • Profile photo of ComsolComsol
    Participant
    @comsol
    Join Date: 2003
    Post Count: 38

    Hi everyone,

    Can anyone refer me to an expert in trusts in Perth that I can talk to?

    Thanks in advance,

    David

    OPM – use Other People’s Money and learn from Other People’s Mistakes
    [email protected]

    Profile photo of Steve McKnightSteve McKnight
    Keymaster
    @stevemcknight
    Join Date: 2001
    Post Count: 1,750

    Hi,

    Failing a post of help here, I suggest you contact WA property investment groups and ask who they use.

    One thing to remember is that trust law is 90% impacted by federal rather than state based laws since the biggest issue is usually pertaining to tax law much more than State based legislation.

    Still, it’s goo to get some local advice – from a solicitor or an accountant.

    Cheers,

    Steve McKnight

    **********
    Remember that success comes from doing things differently.
    **********

    Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
    https://www.propertyinvesting.com

    Success comes from doing things differently

    Profile photo of redwingredwing
    Participant
    @redwing
    Join Date: 2003
    Post Count: 2,733

    Comsol,

    just logged on, but if you check the posts over last 2 weeks davidfemia mentioned a perth accountant he has used, and someone else mentioned Margaret lomas’s company edestiny in willeton i think.. you’d have to do a search through the “trust” posts

    Cheers

    All the best for 2004

    REDWING

    Profile photo of ComsolComsol
    Participant
    @comsol
    Join Date: 2003
    Post Count: 38

    Hi Steve and Redwing,

    I’ve been away a bit but thanks for your help.

    Have a great 2004 as well.

    Cheers,

    David

    OPM – use Other People’s Money and learn from Other People’s Mistakes
    [email protected]

    Profile photo of Elysium-MElysium-M
    Member
    @elysium-m
    Join Date: 2003
    Post Count: 259

    If you’re looking to set up a trust for tax advantages, there are a couple of lawyers in Perth who are really good. By the same token, they are also quite expensive (I’m talking several thousand bucks for starters). If you’re still interested, let me know and I’ll email you the names.

    Steve – stamp duty, which is state-based, may also have a significant impact on what you can do with your trust. For example, there’s a neat little trick called the refinancing principle that works from an income tax perspective (ie Federal law). It’s a bit too complicated for me to describe here – I’m just using this as an example.

    But the peculiar way in which WA stamp duty legislation is drafted completely stuffs up the usefulness of this principle – if you try and pull it off in WA, you get hit with stamp duty at the conveyance rate (ie the rate you pay when you buy a property).

    It’s another reason why getting good local advice is so important. So be careful about relying on “general” books on trusts and other investing structures.

    Cheers
    Elysium-M

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