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

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]

Great Idea.Development numfy here… I'd love a copy in order to give you feedback.Details below in signature.Cheers

Hi M,What area in the US were you considering ?

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]

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]

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.

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]