This costs listed in the above comments sound more reasonable – my reluctance to do this was from seeing a quote from a well known accountancy practice with costs ranging from $1650 to $4400 to establish and $1000 + time to complete a tax return (TR). If I am looking at $50 per week +ve cashflow after all expenses (therefore $2600 p.a.), I would use up all my first year +ve cashflow in establishing the trust and TR. I am then losing half my cash every year thereafter in TR's. I have had a investement property for the past 4 years (yes, I know, time to get off my butt and find the next one). To date I have had no issues that would make think I need to consider a trust – however with property number 2 looming on the horizon it seems unanimous that setting a trust up is a smart move.

TerryW, you said that the expenses to transfer a property into a trust are significant. Briefly, if you dont mind, what kind expenses? So anything that isn't already in the Trust name (therefore investments that pre-date

 the establishing on the Trust) will incurr these transfer costs?

Also, is this correct – you establish a Trust first, then buy assets (in the Trust name). Therefore you technically start the Trust with nothing in it? Otherwise you are buying in your own name and transferring the asset in.

Can anyone suggest a "Trusts for Dummies" type book that will allow me to get a grasp on Trusts?

Thanks again!