My question:
* Is there a way to live in a tax deductible home?…..I have read a little on trust structures, can a trust purchase the home and can we then rent the property from the trust?

The answer according to the ATO is no. Part IVA “dominant purpose test” could be applied. Read tax rulings for their application but also for ATO culture and attitude.

The other answer is to decide on day one what is your appetite for risk. If you want reliable safe strategies then you will be attracted to a certain type of adviser who will advise caution and patience. If you want to push the envelope then another type will appeal. Consider the downside if the strategy is unacceptable to the ATO.

IMHP caution and patience with careful tax planning is a better option. You can concentrate on maximising the potential in PPR exempt CGT, super salary sacrifice and other FBT exemptions for salary sacrifice (e.g.ESOP (employee share ownership). In other words go with the flow and use opportunities presented and endorsed by ATO for pre tax savings. Accumulate pre tax dollars wherever possible and in the mean time do not accumulate non deductible interest loans.

It is limited as to what you can do with a DIY super fund for related transactions but otherwise a super fund is a good place to accumulate wealth and later perhaps buy an IP. Start with master trust and then when capital is sufficient do you own thing. I know this answer is slightly off topic.

avanti lawyers

as a lawyer we often change the name of the purchaser even after contract is signed.

you need to novate the contract (i.e terminate the original and then sign a new one). can be done with agreement of seller

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