Hi All
I was Reading Before about people purcashing IP in the trusts rather than in there name. What dose this do? dose it have tax advantages? is it like setting up a company to buy Properties. I really have no idea what trusts are.
Regards
DaveRead trust magic. Very good information by Gathum I think
Hi Mad-cat,
Trusts do have some tax advantages but often overlooked is the potential for asset protection.
As TD said recommend you buy Trust Magic (~$99) at http://www.gatherumgoss.com
If you would like a copy of the index to see what the book covers email me and I’ll send via return email.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
In a nutshell, a trust is an agreement whereby you (trustee) hold an asset on behalf of somebody else (beneficiaries).
eg. having a child’s bank account in the parents name – the money is the kids, but the parent manages it.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
great analogy Terry, most important is asset protection from litigation, also your beneficiaries (children) can take lonns from dispersments to purchese a home in the future then pay it back to the Trust bla bla bla.
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