Terryw
Sorry for the delay, I missed your reply.
The main difference is getting mortgage 1 up as high as possible
for a deposit on house 2, purchased in a trust using seperate loans. This has some limitations, as property prices keep growing the equity in property 1 in exposed, also reduces deductions for intrest.
A good structure though as you…[Read more]

Good post Dr.X.

As for mt post, I changed it and am sorry. Even though this is my personal opinion only. It was also shut down by ASIC, unless I have my info incorect.

How do you guys stay up so late or perhaps early?

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

, if something goes wrong for example the tenant hurts himself and sues me, would all my personal belongings under threat? Is this possible?

This is not only possible, it happens. Using a trust with a company as trustee is the best way to guard against litigation. Insurance is important but does not always cover you for what you need.

Dr X seems…[Read more]

I have a friend who lost $5k in a scam. I don’t know much about it but it was a while ago now. Something about starting a bank that will lend on anything positive geared, but not worring about your personal finances.
My friends in-laws also got taken for $25k, but they are not to bright.
If it smells like a scam, looks like a scam then it probably…[Read more]

This is something I have never heard of and if it does work the problem would be (as per Terry) getting the money, unless you are over 55.Also remembering that a super fund can not borrow.
Without doing more reserch, I think this sounds strange also.

A side point, the trustee is responsible for what happens in the trust, that may make it liable…[Read more]

All vaild pionts to consider

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

Hi Terry
He was walking on to the stage to do a sydney seminar and fell about 20 months ago. He was more worried about the people who came to see him than his back. He refunded all money paid to him for the seminar. His back still gives him a lot of trouble and it probably will never be right.

CATA
Asset Protection…[Read more]

Hi guys,
Great topic that I think most people who read or reply on this site will have come accross at some point.
I have friends and family who I talk money with and I have friends and family I talk sex drugs and rock & roll with. Sometimes the boundries cross and I find that if people do not understand what you are doing then they are quick to…[Read more]

Qld007

It was an idea to look into. I know someone who purchased a business this way, but I have no expierence with a Novation Agreement myself.

Some more info on an “Assignment Letter” would be great if you could?
Thanks

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

Quote:
Originally posted by austini:
Hi Cata,

If my understanding is correct once I gift funds to the trust I would have to pay tax on these funds should I require them to be permanently returned to me at some time in the future. Of course I suppose the trust could loan the funds back to me as an interest free loan. This is providing that the…[Read more]

I think I like the first explination Terry.

Only if the trust is already set in place will this work. If you have a trustee company then the person next door will not know anyway as the contract will have the companys name on it.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

Terryw
Settling a trust is not esential within 28 days but it is something I do to eliminate any future possible questions. Like the cheque, it’s to ensure you can have some proof of the trust being settled(no one I know has a problem with keeping $10 only in the a/c). The $10 note can be misplaced or fall off the deed etc and if someone really…[Read more]

Quote:
Originally posted by Mortgage Hunter:
No advertising here Cata.

Sorry Mortgage Hunter. I was not suggesting to advertise here, but maybe there is another site simmilar to this one which allows advertising.

Sorry for the misunderstanding.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

This seems to be a topic that people will never agree on. Some people go to seminars and some do not. Some like them, some do not.
I only go to seminars that I think are worthwhile, take in what I think I can use and discard the rest. I also never go to seminars that sell anything but info. I purchased a set of steve’s cd’s a few years ago and…[Read more]

Why don’t you look in to a “Novation Agreement”. This allowes you to sign in your name and then change the name on the contract(as long as the rest of the contract is the same and the vendor agrees). No other costs involved eg. stamp duty.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

Why don’t you put an option on the property?
Not sure where to advertize though, maybe in a forum on a website like this one.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

Quote:
Originally posted by Terryw:

I think this would be seen as tax avoidence.
This makes the ATO not happy and possible jail time. I would not do this.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au