Forum Replies Created
Ok, please do.
Hi,
Just saw your post about your properties in the Pilbara. Just wondering what you ended up doing? I have same problem with one property in Port Hedland. Thanks.
Hi Terryw,
Thanks for the quick reply.
Hi,
I've been following along with this post. I'm interested to know how what advice u got from your accountant. My accountant hasn't been very useful, so still looking for a new one.
I've been trying to find out if the discretionary trust with corporate trustee needs an ABN? and also,
If I onlend money to the trust, do I need a written agreement from a solicitor? Or could I just type this up myself.
Also, is this a div 7A?
Very confused?
Thanks
Hi,
I have 2 questions.
1. If you set up family trust with corporate trustee, is that the same thing as setting up a family trust and a company?
2. If you set up a family trust, as a wage earner (not self employed), can this wage/salary somehow go into the trust?
Thanks in advance.
Thanks TerryW.
Now I get it.
HI,
I've been trying to find this out –
What if you have an IP in Vic in own names can you transfer property title over to family trust fund without paying stamp duty?
Thanks.
Hi,
I'm really confused (yes, I'm going to see some accountants, and buy some books etc) but can anyone please explain to me how a discretionary trust with corporate trustee work?
I understand the discretionary trust side of things but I am having trouble understanding the corporate trustee side of things.
We are planning on setting up a discretionary trust (for all the usual reasons, asset protect, tax min, and to buy CF investment properties), but like I mentioned I don't understand how, why of a corporate trustee??
Thanks in advance.
Hi,
Is the above comment correct?
"When purchasing through a company, don't forget that there is no capital gains tax discount"
If I were to set up a discretionary trust with corporatee trustee, wouldn't I able to get a 50% cgt discount? Am I wrong?
I am still learning about DTwith CT so if I'm wrong – as least I know now.
Very hard to find info on DT with CT (that is without seeing a tax accountant first). Anyone out there who can suggest some good resources?
Thanks.
Hi Daniel,
Just wondering if yr still following this forum. If yes, I'd be interested knowing how did yr DT fund work out after a few years of using it?
What was the actual name of the trust fund u set up? Was it a DT with corporate trustee?
I am very interested because I am not in a fairly similiar situation to what u where in a few years back. That is trying to work out if we should set up a trust fund, if yes why and also what type.
(As a side note: I have been to Singapore 5 times for holidays- love it – can't understand why anyone would want to leave…) but then again Australia pretty good too. –
I am living in a small town in WA and we only have access to two accountants – which from personal experience are expensive and hopeless. So I am looking for a great accountant who really know there stuff when it comes to trust, trust tax etc.
If anyone else besides Daniel reads this post (I know Terry and Richard have been long time members) maybe someone can recommend some accountants who I could contact via phone, email. Of course I would like to be able to have a sit down meeting but that might not be possible. I am happy to discuss my plans over the phone with them and send my stuff via post.
This forum has really helped me, with some ideas. (thanks Daniel for asking the questions in the first place) and (thanks Terry and Richard) and other people too many to mention for contributing.
I will wait and see if I get any replies – if not that ok. I will visit other forum/pages too.
Thanks.
Paullie, why would u want to know this?
But since u are keen to know. No, I do not get paid to do my job?
I have actually spoken to a few mortgage brokers around Australia and I guess I just haven't found a good one. That's why I am seeking open opinions from people who have used them and people who have been able to be successful by doing it themselves.
Interesting Alistar, you mentioned that you are 'biased because I am one' , glad you mentioned this. Of course you would agree with a trailing commission and not a one off payment for service.
I don't agree with a trailing commission on each an every home loan (which could obviously go on for years – that's a lot of money ).
I don't care if the bank pays it directly to the mortgage broker , the bank has to get it from somewhere and as a customer I a probably paying higher fees for this in the long run.
I would prefer if the mortgage broker shared his/her trailing commission with me – that seems like a fair deal. A win win for both.
Lots to consider…
It seems to me that people who use mortgage brokers, can,t say enough good things about them but I'm also interested in hearing from people who have done good deals for themselves (and I'm aware it's not all about the interest rate).
I already have 2 investment home loans and looking to do another deal. I agree this is went it becomes more difficult and maybe it's time I use a mortgage broker (looking forward to good suggestions of who to use and why?).
Thanks in advance for any helpful advice. I am still learning…
Thanks Alistair, but I don't have an attitude towards mortgage brokers. I'm just looking for advice on which way to go.
I am open to suggestions that why I posted on this site.
If people have used a mortgage broker and found them more than helpful (as you mentioned more than just a loan processor) than that's the sort of thing I interested in knowing about.
I have been reading along…on this forum and other forums about NRAS properties. What I' m wondering is… r NRAS properties overpriced in the first place?
All the above information about who will do the loan etc is very helpful but if the NRAS properties are overpriced in the first place, would i just be wasting time and money getting one of these properties?
What do you think?
Wondering- Do mortgage brokers get better rates etc? Yes, I know they don't charge us a fee for their service (as they get their money from the banks – over the term of the loan). But I'm wondering whether I am better off going directly to a variety of different banks myself (yes, I'm aware it can be time consuming but so can dealing with a mortgage broker). In the end will I end up getting the same result?
I would be happy to use a mortgage broker to do the initial work and pay he/her a fee for this service but I'm not keen on the long term fees they get paid, even if it's paid by the bank.
What do you think?
