Hi
Im pretty new to all this, can anyone give me advice as to weather you should purchase an investment property under a set-up trust fund or in your own name to start or carry on purchasing with?
Ive read and heard various comments on trust funds and how they protect assets etc etc, and wished to hear other peoples opinions on the subject. (First time buyer!)
Kind regards
Briceman
I personally wouldn't buy under my own name. Use a trust everytime – but it depends on your circumstances. Trusts may have to pay more land tax and they cannot distribute losses.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hi briceman
I think it really depends on your individual situation – if you are an individual where you are more likely to be litigated (sued), then I would seriously consider purchasing in a trust structure. If you are looking at development (ie. considered riskier than buy and hold), then you may like to purchase in a trust structure. There may also be succession planning (yet another possible reason to consider using a trust) to think about if you have children.
Hope this helps
L
You must be logged in to reply to this topic. If you don't have an account, you can register here.
