Could someone please tell me what the benefits of buying IP's in a trust name? What kind of trust is best? What are the con's?
There could be some tax and asset protection benefits but it all depends on what YOUR goals are for purchasing the property and how it fits into your own property portfolio.
Some people will tell you to talk to your accountant or financial advisor, but I don't think anyone can tell you what your future goals should be they can only help you to plan to get there!
The best person to rely on for all the answers you want is YOURSELF!!!
Speak to Chan & Naylor about their property trust, it is extremely flexible and they design it to your specifications. They have information to explain it on their website if you would like to know more. I suggest calling them or seeing them and having a chat about what it is and how it may benefit you.
I don't believe the formemtioned trust to be any more flexable than a number of other structures, especially since the laws changed. The book being sold has outdated views and to my knowledge has not been updated.
Just my opinion.
I'm not a fan of this trust for a number of reasons, others disagree so do your own due dilligence on everything.Be very wary of Hybrid Trusts at the moment, or any trust that claims to allow negative gearing. I fear some will fair the ATO scrutiny.
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
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