A partnership will increase your risk. If your partner goes bankrupt for some reason they will target you to pay the debt.
A trust would be better but more info is needed to select which type of trust eg. current financial position and future plans.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

Some good advice Redwing.

E-mail me if you want to talk.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

Originally posted by g7:
There is a lady on the Sunshine Coast, Dymphna Boholt, who is making great strides as a wealth creation adviser through property.

I believe she learnt it all form Ed Burton.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

IMOP not Wal Pavey RE.I have had some intresting problems.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

Originally posted by harpeau:

also can an indivdual person or trust structure register for GST and an ABN?

Indivdual person is sole trader and yes a trust can register for GST & ABN also a business name (to save the XYZ Pty Ltd as trustee for the XYZ trust).

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

That would be selling some of the house to her and stamp duty would be charged.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

Originally posted by GreatPig:

Quote:

Beneficiaries? Or do you mean trustees?

Both actually

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

Originally posted by gafama:
There are certainly legitimate reasons for using a Hybrid trust and, properly administered etc, they’re AOK and above board.

YES.

But, please, don’t take advice from a “friend”. Get a specialist to advise you.

This is important.

I believe the accounting side of a HDT is more complicated than it appears. I am no…[Read more]

Eleven
The only other question is how many properties do you want and how much to put in each trust? Remember that if something goes wrong in the trust, everything in that trust is at risk.
Make sure that you can change beneficiaries if you need to.
Happy hunting[cap]

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

If a hybrid trust is not maintained correctly, it will not hold up against a lawsuit. I do not believe it is necessary for the majority of people and is overused by some. I have heard of tax barristers breaking into some hybrid trusts is about 5 minutes because it was not maintained or set up correctly.
These can be tricky beasts, be…[Read more]

Spanky

I was refered to my accountant by a good friend, tried him and was very impresed with his knowledge.
As for trusts, there is a number of people on this site you could talk to, ask people in a forum or e-mail me.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

if you have a beneficiary company (trustee or otherwise), you need to think carefully about who the shareholders are going to be.

What about the company owned by a different discretionary trust?

A discretionary trust can distribute funds to any other legal entity that is a benificary.

CATA
Asset Protection…[Read more]

Spanky

Yes you need to sell it to the company, but have you considered a trust. You can protect an asset outside a trust( not selling it in to the trust) but the unit will still be in your name, for tax purposes. Or sell it to the trust if you want the trust to own it.

Why do people need an accountant that works near them? My accountant is in…[Read more]

TMA always has valid points. There is always something that pops up. Sometimes life gets in the way, good or bad.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

What is the value of asset protection to an investor?

The value is not to loose everything you own if you are sued. NSW is the 2nd most litigated state in the world followed by Qld in 5th, on a per capita basis. Also, if you use these company/trust structures the major reason for them must be for Asset Protection or the ATO might see it as tax…[Read more]

Eleven

GP is on the right track. I have never seen a trust as a trustee, and am weary of this. Your idea seems very complicated. Just remember the more complicated a trust structure is, the more likely something could go wrong and you won’t know unless someone sues you. Possibly cost alot in accounting fees also.

Ask your accountant if they…[Read more]

Sorry for your loss jkmt, Sometimes life be hard.

I like to involve my kids in our investing as much as I can. My 4 year old is still to young to understand but my 8 year old is starting to understand some basic principles. I am hoping that they will learn as they grow and know how to handle money and investments when they grow up.

CATA
Asset…[Read more]

The only thing in the trust is assets.
The trustee (I believe) should be a $2 company with no trading history. The trustee does not own the asset but is in control what happens in the trust.

The benificary of a trust is not the owner, it can receive profits/losses of the trust(depending on the type of trust)
A trust is a separate legal entity…[Read more]

I do not see the difference as you can not access the money until settlement anyway, at wich time you get all the monies owing.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

Dr X

Maybe the first property aimed at capital gains so you can keep investing. I’m with you though, positive or at least netural gear.

How many negative gear IP’s can you have?
Then compare with positive?

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au