property ownership structure

Hi guys

Not enough information to provide a sensible reply.

Everyone's situation is different – and there's heaps to consider when determining whether ownership should be under a structure other the your own person name. There's also different entity types to consider.

So many people want to purchase within complex structures but have no idea why they are doing so – it's just something that they've read in a book. 

A chat with a decent accountant is in order – someone that's going to provide impartial advice on your individual circumstances. 

Cheers

Jamie

I am a fan of trust structures in the right circumstances, NSW land tax on non-fixed trusts is a bit of a pita though.

I utilise trust structures extensively in my own developing, investing and business areas.

Also recommend various structures to clients.

I also come across people who are having huge benefits from structures when I am involved in civil litigation and also when helping clients through bankruptcy and liquidations.

When representing clients who have been wronged in the commercial litigation I do, there are 3 key stages in working out the likelihood of success and the structures of the people we are suing is a key to one of them.

1.  Who is liable for damages

2. Are the damages substantial enough to cover the costs and stress of litigation and has client done enough to mitigate losses.

3. If we were to get a judgment, who is going to pay and have they got the capacity to pay.

So in an imaginary case that we have multiple parties at fault on the other side.

1. People who did stuff in their own name and who have houses registered in their name (Highly likely to have to pay)

2. Company with no assets and limited paid up capital (Will not pay and go into liquidation).

3. Professionals (Professional indemnity Insurance will cover but also likely to fight harder)

4. Trust with corporate trustee (trustee is personally liable for debts but indemnified out of the assets of the trust if it has enough, would have been better if it was a personal trustee.  Overall dubious as to ability to pay, but you never know your luck)

Guess who is going to be stuck holding the baby so to speak.

As well as the flexibility for taxation and income sharing purposes, I always think of proper structuring as asset protection insurance.  You might never need it, but you'll be bloody glad you have it if you do.

regards