All Topics / Legal & Accounting / Where’s the catch

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  • Profile photo of HHHHHH
    Member
    @hhh
    Join Date: 2004
    Post Count: 50
    March 17, 2004 - 8:38 am

    Hi All

    Just found this!
    http://www.strategicwealth.com.au/documents/5Reasons.pdf

    Could someone please explain point 4 for me?

    I am currently refinancing my IP to purchase a business. The IP is in my own name. Unless I have misunderstood, point 4 is basically telling me that I can put the IP into a Trust, have the trust get the loan to pay me out (or redeem my units). This loan will be tax deductable and I can put the proceeds onto my mortgage and not affect the tax deductability of the loan.

    Now this sounds too good to be true, and you know what they say… so where is the catch?

    thanks[shades]

    Dan

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781
    March 17, 2004 - 9:33 am

    The only catch may be the payment of stamp duty on the transfer.

    Speak to Nick at Stategic Wealth, he is a great guy.

    Cheers,

    Simon Macks
    Mortgage Broker
    http://www.mortgagehunter.com.au
    0425 228 985

    Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Viewing 2 posts - 1 through 2 (of 2 total)

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