Hi Grant7

Yes the trust will need to be registered (at least with a TFN).

As for the intrest, I think it comes down to what the land will be used for eg. for investment then deductable. Check with your accountant.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

That was my thaughts to dazz. I was curious so I called the business broker yesterday. I will let you know what I find.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

Congrats Redwing

I didn’t think it would take you all year to do it.

Now on to the next mill hay

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

I was reading the paper yesterday, business for sale section.
There is a cleaning business for sale, 190K + SAV with the owner working 10 hrs/wk and his net is 90K/annum.

This might be a way to get a reasonable passive income for the cost of an IP.

Just remember, if you love what you are doing, you will never work a day in your…[Read more]

What is red and looks like a bucket?

A red bucket

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

I use MYOB but I also use it for business.
I believe that Quicken is a cheap and easy to run program

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

As am I Terry.
Carl
The appointer has the ability to remove and reappoint the trustee. It will depend on the trust deed, but should be a minute entry.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

Vanuatu is all lease hold from the local chief, and some of the local builders…
Well lets just say that there is no standards.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

I have a question for all the accountants.

What do you think is the difference between a Family Trust and a Discretionary Trust?

I find that some know but most don’t.

Amanda, a Hybrid Discretionary Trust can get the -ve affect.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

Good point Jonathan but the info on what strategy is missing. The direction investment will change the type of trust.

My opinions from the info given are-
Type of trust? Discretionary or Hybrid (with corporate trustee)

Directors? I would chose only one of you, the person who will be the risk taker, seen as doing all the…[Read more]

Im my opinion this is personal info and details should not be discussed in a public forum for the world to see.

From the comments I see that you are still confused and I am willing to have a chat with you. E-mail me if you want.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

Originally posted by dekra:[/u
I am able to buy the house from my mother but I can’t see the sense in spending all that money on stamp duty given I will receive the house in her will after she dies anyway.

Stamp duty now or death duties after she dies?
Possibly much the same costs. there is a number of options that you could consider. instead…[Read more]

Harry I think you are missing the point.
A company can be used as a corporate trustee(non trading) and hence may not need a tax return. So except for set up and annual ASIC costs there is no extra.

Keeping different investments in different structures is not silly at all. Asset Protection ant tax minimisation(not avoidance) is the key here.
All…[Read more]

It will depend on what you want to do now and in the future. Sometimes a cheap trust is followed be large ongoing fees.
Also, you will never know just how good a trust is untill it is tried is court.

Price is not the most iportant factor is setting a structure in place.

A Family Trust can only distribute funds to family members.
A Discretionary…[Read more]

You can do a reverse ta audit on the tax office for up to 4 years previous.
I have just done it for the last 2 years, but it is only worth doing if you get back more money than it costs to do.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

From my very limited dealings with SMFS I believe that you can’t just transfer to a super fund, and they would possibly have to sell their properties to the fund.

A super fund can’t borrow money, so they will need enough cash in the super fund for this.

It is worth thinking about as it will also give some great asset protection and tax…[Read more]

I don’t know Redwing as I have had nothing to do with NZ property or trusts.

My gut opinion is- I think you could buy in an Aus trust (this will give you the tax benifits when the profit is returned to you), but not sure how this will affect any NZ asset protection structures you may have. I don’t see why an Aus trust or company can’t be a…[Read more]

Originally posted by carl_vic:

From what I hear if a person gifts money to a trust he/she will from that point be treated as a settlor in that he/she can never again recieve a distribution from the trust.

I have not heard of this before, and disagree. Where did you hear this from Carl?

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

As far as I am awear Redwing, the cost of a “Deed of Love Gift” is the only cost involved for an Australian gift, if it is done correctly.

I would try to stick to books written by and for Australians if you are investing in Aus. This will avoid some confusion as Terry has said, the laws are different.

Seek profesional advice for your presonal…[Read more]

I find those to be a little outdated Terry.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au