Forum Replies Created
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 director of a NZ trustee.
You should talk with someone who is familar with NZ structures.
CATA
Asset Protection Specialist
[email protected]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
[email protected]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 situation.
CATA
Asset Protection Specialist
[email protected]I find those to be a little outdated Terry.
CATA
Asset Protection Specialist
[email protected]Hi Buylow
Firstly I have no money in this particular fund, but funds similar.
I can not remember how long it has been going but I know that it has been paying 2.5% every month with 0.5% taken in fees.They can have larger than 2.5% per month profit but place the extra money in a capital garanteed fund and only draw on the extra money if the managers fail to achieve the 2.5%. Last time I looked they had 5 months worth of BACK UP money.
If the managers loose 5% or more in one month the fund stops trading untill it can figure out why it lost so much money. If it can’t figure it out then you will recieve all money back.
If you want more details e-mail me as it is starting to sound like an addvertisment (I recieve no money from them).
CATA
Asset Protection Specialist
[email protected]Originally posted by Mabbott:cata,
how do you lose money in a term deposit???[eh]
Easy, Invest it IT stocks just before the bust. I sucessfully halved my money. [thumbsupanim]
CATA
Asset Protection Specialist
[email protected]I could not have said it better myself.
Nice one Doc.
CATA
Asset Protection Specialist
[email protected]Originally posted by Mortgage Hunter:Risk and return has a strong relationship. Basic stuff folks.
I would seek and pay for professional advice. I also know who I would approach to have a plan written and run for me that would increase this $1M many times in the medium term.
I would not act on advice from a bunch of well intentioned strangers. Some may be 16 years old with no financial experience as far as you know. Maybe even myself [blink]
Exelent advice Simon and due dilligence is importand as well as diversification.
I have no money in this fund myself, but know for a fact that it has payed 2% every mth since it began, with very little risk (not garanteed but is anyhing).
FYI Simon, in the S&P 500 lately the higher the quoted return the closer they get to achieving it.
eg. If the fund quoted high (higher than 2% per mth) the managers are more likely to realise this than a fund that quotes what most would think is a safe fund.My last term deposit lost me money, in this type of fund SO FAR I have made money.
Take Simons comments to heart and DO NOT take my word for it. Find out for yourself, but the world is a large place with Aus having only aprox 1.2% of the worlds investing capital. I use profesional advisers also, just in different areas.
CATA
Asset Protection Specialist
[email protected]The fast and easy answer is a fund I know that pays 2% per mth net of fees.
$20k per mth, do you think you could live on that?
CATA
Asset Protection Specialist
[email protected]It is not worth the risk IMOP. For the cost of a new company the benifits outweigh the risks.
CATA
Asset Protection Specialist
[email protected]Using a trust is possibly the best option as you can sell and then purchase more property not in your name. Any profits inside the trust not distributed by the trust befor June 30 will get sluged 47% tax, so best move any money before.
As Terry suggested, if your ex found out she could argue they are held in trust for you, but she would only be entitled to 32% of the money distributed to you.
You might not distribute any funds to yourself or the trust might not have any excess.
I respect the fact that you are happy to pay child support, as there is many who don’t. But I don’t agree that you should have to pay 32% of the capital gain as this is for your future.
CATA
Asset Protection Specialist
[email protected]Originally posted by angela.goodsir21286:The accountant is proposing that we make him the 76% shareholder.
I know nothing about NZ structures, but I would not be comfortable giving a 76% stake in any of my companies to anyone (maybe the better half).
I would do alot more research before I agreed to this, doesn’t sound quite right.
CATA
Asset Protection Specialist
[email protected]Stranger things have happened Ducketer.
Now lets say he wants to be nasty. He could possibly list
-Landlord
-Tennant
-Property Manager
-Property Managers Employer
-The guy that services the mower
-The council (if it happened on the footpath)
-The pest man for the green ant bights he recieved.You get the point.
Unlikely yes, but…..I call it the shotgun approach. List as many as possible in the hope that someone has money easily accessible.
CATA
Asset Protection Specialist
[email protected]Or you (as director of the trustee company) can go garantor for the loan that is from the trust. If you borrow money and gift it to the trust You are stuck with the repayments and no deductions for your tax, as you have not borrowed the money for investment.
CATA
Asset Protection Specialist
[email protected]Hi Michael
I don’t know much about leases, but in Mt Isa the leasehold is paid at about $100 per year untill the land is paid off. Then it is yours.
I would do some reserch on the lease and go from there.
Sorry I could’t help more
CATA
Asset Protection Specialist
[email protected]8- The trustee is liable for any actions of the trust, as the trust can not make decisions by itself.
If the trustee is a $2 non trading company with no trading history it puts another layer of protection arround your personal assets. It shows a clear difference between your assets and the assets in the trust.
Hope this helps
CATA
Asset Protection Specialist
[email protected]1-It is a semantic division which the law adopts: The trustee owns the trust
assets in name only – the benefit of those assets (enjoyment of them) is the
sole exclusive right of the beneficiaries of the trust.CATA
Asset Protection Specialist
[email protected]Originally posted by Terryw:Quote:Originally posted byCata – how can someone do a search on a trust? Trust deeds are not stored anywhere or registered anywhere. Sometime people lodge copies at the Land Titles Office, but this doesn’t appear to be a requirement. The Office of State Revenue doesn’t keep a copy, they just stamp the deed and hand it back to you.
Not the trust terry, but you. There will be some income (benifits) comming your way which will leave a paper trail. I do not know how the private investigators do it, but it is amazing how much info you can get in a day for $300.
Scary really.
CATA
Asset Protection Specialist
[email protected]IF you find one then let us all know Doc…
CATA
Asset Protection Specialist
[email protected]
