All Topics / Finance / What detail banks want from Trusts for new Finance

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  • Profile photo of woodsmanwoodsman
    Member
    @woodsman
    Join Date: 2004
    Post Count: 714
    March 10, 2005 - 12:56 pm

    In considering establishing a trust, I am thinking ahead after the initial purchase in this structure.

    After for example 12 months, do banks require similar tax returns for a trust to evidence income & expenses as they would for a non-PAYG entity, when purchasing additional or refinancing existing properties?

    Profile photo of brahmsbrahms
    Participant
    @brahms
    Join Date: 2004
    Post Count: 485
    March 10, 2005 - 1:16 pm

    quick answer is yes. oh, thats the long answer too.

    cheers

    brahms
    CALL NOW…adults only (boys and girls ask mummy or daddy first) ~~ 1900 HOT BROKER ~~

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    March 11, 2005 - 4:35 am

    banks will want to see evidence of all income from your trusts and/or companies – unless you are using low doc loans.

    Terryw
    Discover Home Loans
    Mortgage Broker
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 3 posts - 1 through 3 (of 3 total)

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