Hi – this is a great website with loads of information. As I am new to property investment, could someone please let me know the best way to purchase properties. Is it best to set up a trust, a company or do it in your own name?
Just trying to work out the best tax effective way to make purchases.Thanks
Onaf martyn
Rarely a company structure.
You would need to sit down with an accountant and have your goals and strategy sorted out to discuss. This may help determine whether to keep it in your name or to establish a hybrid trust.
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985NODOC Loan – 65% Loan – No questions asked! 6.85% Rate!!
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Thanks for the information Simon.
f martyn
Ho Ona,
Definately one for an accountant – but just make sure the accountant knows what they are talking about too.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
Originally posted by Derek:just make sure the accountant knows what they are talking about too.
I totally agree…start simple though – just purchse one in ur own name – then get complex later on. You can always transfer title into the Trust later on…
kind regards,
George.I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how
Hey Geo, wouldnt transferring into a trust name mean double stamp duty??
DD
Don’t sweat the small stuff,and it’s all small stuff!!
hi ona
another piece of advice is to start with the end in mind… so I wouldn’t rule out setting up a trust first… I wish I had…
and yes, DD I believe transferring into a trust incurs double stamp duty.
cheers
rHi Ona,
Purchasing in a Trust may be beneficial if you intend to acquire an extensive portfolio, however if your long term plan is to accumulate a portfolio of 1 or 2 properties max, then you may want to consider purchasing in your own name,A good accountant should be able to recommend what is the best option for you,
A well regarded accountant is Dale Gatherum-Goss
Phone: (03) 9723 7699
Postal Address: 1 & 1A, 87-89 Colchester Road,
Kilsyth, Victoria, 3137
http://www.gatherumgoss.com/I hope this helps,
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:0402483216
Ph:1800 820 500
VICTORIAPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
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