OK that makes sense, thanks Terry and Dan.So you can add beneficiaries without penalty down the track…? Or when it's initially set up have those family members nominated/ specified?Terry – 'long term benefits'…you're alluding to the income and CGT benefits of trusts? Are there any benefits of trusts that I'm not considering? I want to try and…[Read more]

So a child who becomes an adult earning a high income, thereby becoming not very useful when it comes to minimising tax…I guess you just work the numbers and allocate them a small portion of the income…Thanks Dan

Ok that's great Dan, thanks. Yes, it seems we will have wins and losses no matter what path we take.Can I clarify, when your children are of an age to be earning a decent wage and no longer great for dividing income amongst, is it easy to change the beneficiaries around? Or what would you do?Also, are losses treated the same whether the trust is…[Read more]

Great thanks Richard – will do! Thanks for all the feedback everyone…I guess I can talk to you about this separately but I've been reading up on DFT. I'm not sure that it's for us based on this:* IP2 will be neg geared for at least 2, maybe more years. Hard to say really when a lot of the figures at this stage are estimates. * If there are…[Read more]

Maybe that explains why my local broker hasn't returned my email???!!! If you have any room, you can take on mine as well

Thanks again Michael! I'm gaining the confidence to negotiate on EVERYTHING with the lender

Sorry i thought Richard was a planner, not a broker but indeed he is! OK. Well in that case, another lender for IP2 is a strong option. Just to clarify, do most lenders require 80% LVR to avoid LMI but a higher LVR to determine the amount they're willing to lend you? (i.e. some lenders have 95% or more LVR). I'm just trying to work out if we'd…[Read more]

All great advice…many thanks. Problem is with most of your suggestions I'm still not understanding the method behind the structure. This is your field of expertise but I'm being left behind. This is what ppl pay you to explain and rightly so I guess this is why I'm looking for someone to meet with face-to-face so they can break it down for…[Read more]

OK now i'm getting confused! Firstly, I know little about trust structures but thought that they lost most of their residential investor benefits a few years back…I'd need to read up on this.Secondly, the point about title deeds is another area of questioning I have. * IP1 is in both names due to originally being our PPOR however has not…[Read more]

Forgot to add that strategy is buy, Reno and hold. Tax bracket is currently 38c.

That sounds like gr8 advice thx! I’ll fill in some of the info gaps 4u. Total loan of $210k includes $15k for immediate reno’s. CU have approved this amount. Husband is a builder but not his day job anymore so no issues w/ the lender. Thx 4 the heads up on population. We do fall in the under 10k bracket but lender hasn’t said anything 2date. Will…[Read more]

Yes I'm beginning to think face-to-face is now old school! Part of me still likes the idea of meeting with the experts face-to-face…these are big decisions after all!Anyway, i did post a week or so ago. I had a great response however the thread went dead and I didn't 100% understand the method behind his answer…as good as his suggestion…[Read more]

Also, i forgot to mention that IP 2 is on a block over 1200sqm and the potential to subdivide in the future and build a home (husband to build) to either sell or hold is a consideration. Does that change any of your suggestions? Thanks again

Hi Richard thanks for all your advice. We are with a Govt CU and to date have not experienced fees with our off-set a/c which is why I thought to open another one for IP2. But I'll discuss your suggestions with our planner. Meeting with him as well as the accountant. Thanks again