Salary Sacrifice and Trust Distribution (as Income)

Viewing 8 posts - 1 through 8 (of 8 total)

Hari Yellina
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@yellina
Join Date: 2007
Post Count: 101
February 18, 2017 - 12:39 am
Hello,
I am applying for a construction loan and I have questions for the property experts on the forum.
Myself and my wife had made salary sacrifice to our self managed super fund and one of trust has distributed profits to my wife last year and going to distribute this year as well. My question is, when applying for a loan. Do the lenders take Salary Sacrifice as Income and money which has come through trust as income.
Please advice. Thank you.
Hari Yellina
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Terryw
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@terryw
Join Date: 2001
Post Count: 16,213
February 20, 2017 - 12:15 am
The lender will assume the salary sacrifice is not happening as long as it could be stopped.
Is the trust a related party? The lender will likely want to see the financials for the trust and will take it into account.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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Hari Yellina
Participant
@yellina
Join Date: 2007
Post Count: 101
February 20, 2017 - 8:48 pm
Terryw,
The trust is my own company. We are small size businees with 100 or more employees. The profit gets distributed end of the year.
Thank you.
Hari Yellina
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Redwood
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@redwood
Join Date: 2013
Post Count: 340
February 20, 2017 - 9:06 pm
A small business with 100 or so employees….
ha
Cheers Ivan
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Terryw
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@terryw
Join Date: 2001
Post Count: 16,213
February 20, 2017 - 10:28 pm
Hari Yellina wrote:
Terryw,
The trust is my own company. We are small size businees with 100 or more employees. The profit gets distributed end of the year.
Thank you.
That doesn’t make grammatical sense!
The company is either acting as trustee or the shares of the company are owned by a trustee of a trust?
Either way you would have to supply the finnacials to a lender
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
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Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hari Yellina
Participant
@yellina
Join Date: 2007
Post Count: 101
February 20, 2017 - 10:31 pm
Company is acting as a trustee and I am director of the company and the beneficiary to the trust. Profits gets distributed to the beneficiaries.
We have all the financials ready. Just wondering if Salary sacrifice and trust distribution will be added.
Hari Yellina
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Ethan Timor
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@ethantimor
Join Date: 2016
Post Count: 282
February 20, 2017 - 11:41 pm
Should be fine. Your broker will surely be able to match you with the right lender 👍😎
Ethan Timor | Aligned Finance Pty Ltd
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Hari Yellina
Participant
@yellina
Join Date: 2007
Post Count: 101
February 20, 2017 - 11:42 pm
Thanks Ethan.
Ethan Timor wrote:
Should be fine. Your broker will surely be able to match you with the right lender 👍😎
Hari Yellina
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Keep Investing - Grow while Resting.