All Topics / Legal & Accounting / Do i need a ABN for a family trust?

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  • Profile photo of mauriciomauricio
    Participant
    @mauricio
    Join Date: 2003
    Post Count: 23
    May 1, 2006 - 3:28 am

    we have a family trust with 2 properties but they are negative geared

    Profile photo of mauriciomauricio
    Participant
    @mauricio
    Join Date: 2003
    Post Count: 23
    May 1, 2006 - 3:37 am

    can you convert the family trust with 2 properties to a hybrid trust ?

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    May 1, 2006 - 3:56 am

    Yes you would need a ABN.

    You can probably convert your trust to a hybrid, but would probably not be able to borrow to buy units for these proeprties as they are already owned, but check this with a good accountant.

    Terryw
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