Assist Business Network replied to the topic Michigan Property Market in the forum Overseas Deals 14 years, 7 months ago
Hi Jason,I have been investing in Detroit since late last year and have purchased 5 properties in a LLC.With tax time coming soon (I elected to do a 30 June balance date) I am looking for an accountant to do my tax returns.Is there anyone you can recommend? If not, I will start googling.Cheers
Assist Business Network replied to the topic Asset Protection loooong term!!!! IS a trust the way to go? in the forum Help Needed! 14 years, 8 months ago
Hi Mark,A trust is definitely the way to go but it is important that the trust deed be worded in a specific way so that the assets held within the trust are exclusively for the benefit of the family tree line.Some people refer to this type of trust as a "bloodline trust" as it keeps the assets within the bloodline of the family.Based on my…[Read more]
Assist Business Network replied to the topic Developing basics in the forum Value Adding 14 years, 8 months ago
Great Idea.Development numfy here… I'd love a copy in order to give you feedback.Details below in signature.Cheers
Assist Business Network replied to the topic Has anyone used a Property Broker to buy in US? in the forum Overseas Deals 14 years, 8 months ago
Hi M,What area in the US were you considering ?
Assist Business Network replied to the topic Company Trustee in the forum Legal & Accounting 14 years, 8 months ago
In 99.9% of cases I recommend to my clients that you have a seperate trustee company for asset protection purposes.The only exception to the rule would be if there was absolutely no risk associated with the net assets held within the seperate trusts in which case it MAY be OK to use the same trustee.The issue which can arise is that the purpose…[Read more]
Assist Business Network replied to the topic GST in the forum Legal & Accounting 14 years, 8 months ago
Hi Keiko,While there is no GST payable on residential rent – there is GST payable on commercial rent if you are registered.The fact that the tenant is not registered for GST is totally irrelevant. To put it simply… for a commercial property:- If you are registered for GST you should be charging GST- If you charge GST your tenant must pay it to…[Read more]
Assist Business Network replied to the topic Rules in relation to SMSF when purchasing property in the forum Legal & Accounting 14 years, 8 months ago
Hi Tony,I can confrm that your PPOR will fall under the arms length rules… and as such you CANNOT purchase it directly from yourself into the SMSF.
Assist Business Network replied to the topic Super Fund Borrowing for Commercial Property – Need Accountant ?? in the forum Hi there Olli,
I am a 14 years, 8 months ago
Hi there Olli,I am a Chartered Accountant with many clients having self managed superannuation funds with I help them administer.The situation you described is not uncommon and one which is easy to help you with.My client base is stretched from Brisbane, Gold Coast, Sydney, Melbournae and Adelaide and I would be happy to catch up for a chat to…[Read more]