All Topics / Legal & Accounting / Setting up soon.

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  • Profile photo of Nue1Nue1
    Member
    @nue1
    Join Date: 2013
    Post Count: 32
    February 13, 2013 - 2:21 am

    Hi all,

    This is my second post here in the forum, excited this is the 2nd lol.

    Here is my situation:

    – Permanent Job with 45K p.a. – current job for 1 year and 2 months

    – Also side business as sole trader with around 30K p.a. (only 1 year tax assessed)

    – Will accumulate savings in total of 60K around April

    – Planning to buy IP of around 300K with 10% deposit + LMI

    – Planning to invest in another IP with another 1-3 mates but in the meantime I can buy IP for myself only.

    Just to be sure I'm on the right track, as tomorrow I have an appointment to setup a proper structure for myself.

    Is it necessary to setup a trust, provide that I may buy IP for myself (no share from mates), is it also neccessary to go and talk to the professional accountant?

    I'm planning to buy in between late April – June, 2013, is it too early to be structured?

    Thanks in advance guys.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    February 13, 2013 - 2:30 am

    Not necessary to set up a trust, but it may be worthwhile depending on your situation.

    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

    Profile photo of Nue1Nue1
    Member
    @nue1
    Join Date: 2013
    Post Count: 32
    February 13, 2013 - 2:33 am

    Hi Terry,

    Just shoot you a PM :)

    Thanks.

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

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