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]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
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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
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]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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