Forum Replies Created
I recently found a managed fund that paid 13.5% in August.
Yes 13.5% in one month.I might stick my million there.
CATA
Asset Protection Specialist
[email protected]Trust property is said to be legally owned by the trustee, with the beneficial or equitable ownership lying with the trust’s beneficiaries. The trust is not technically a separate legal entity, and as such cannot own property on its own. Hence, all property is owned in the name of the trustee – whether an individual trustee or a trustee company.
The name on a property’s certificate of title will be that of the trustee’s (with no mention of the trust). The trustee should record the fact it is holding the property on trust and place such a record (e.g. trustee company minutes) in the trust register.
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]A couple of things you need to check. Does the SMSF allow for this and provided the resultant distributions do not
breach the Rule against Perpetuities.
The rule against perpetuities is a rule against remoteness of vesting ie the property must vest in a person within the perpetuity period. If the rule is breached the distribution would fail.
I have seen it done.Hope this helps
CATA
Asset Protection Specialist
[email protected]I have sent you a PM.
CATA
Asset Protection Specialist
[email protected]Residex has predicted (aprox 2 years ago) that Mt Isa will grow by 10-12% per year for the next 5-6 years at least. I find them to be consertave.
I purchased aprox 18 mths ago and have enjoyed steady rent rises and capital gain also.One example.
3 bed in Sunset
purchase price $137k
Owners rented back for $240/wkCurrent rent value $285/wk
Current bank value $185k
Purchases and managed by Jayes RE. and have had no problems.
I think that it has some room to grow still as you can not rent a house there, and Xtrata has big plans for the mine.Hope this helps
CATA
Asset Protection Specialist
[email protected]Is the $1500 for a company as trustee and a hybrid trust, or just a hybrid trust?
Minimum of $1100 in fees/yr sounds odd. What if it dosen’t do anything?
I believe that the CGT issues you refer to are for houses that are NOT in Australia. Australian properties are not affected.
CATA
Asset Protection Specialist
[email protected]Just a quick question, Why is PI different after divorce?
I didn’t think it was. All the fundamentals are the same.Good luck, I’m sure you will make it even faster now your husbnd isn’t holding you back.
CATA
Asset Protection Specialist
[email protected]You can remove your name by going here: http://www.adma.com.au.
top right corner (Do not contact service), or if you ask them to remove your name from the database they must by law.CATA
Asset Protection Specialist
[email protected]Hi Monster
The fees can be high for setting a structure in place, but this is a one of expense(for each trust).Ongoing fees should not be too much, a tax return ect. This is a choice you must make, Is it worth the potential risk? Pay now (for trust) and save later (potential law suits and tax). I like trusts!
In what country are you a resident for tax purposes. This will give you an idea of tax liability. As you are taxed in the country you reside.
Hope this helps
CATA
Asset Protection Specialist
[email protected]Sounds like a +ve gear property. I would have used a discretionary trust if it is.
Your questions also centre upon revenue flows and the consequential taxation implications which you should check with a tax expert. I am not an accountant but believe you can stream income as Redwing states.
CATA
Asset Protection Specialist
[email protected]Sounds Ok. But the $20k you earnt from the units would be taxable, making your taxable income $71k.
CATA
Asset Protection Specialist
[email protected]I believe that the family law courts will look thruogh ANY structure within Austrailan law, including trusts.
CATA
Asset Protection Specialist
[email protected]Originally posted by resiwealth:Think out side the square of using a trust when developing for CGT and other ATO issues.
This should not be the main issue behind setting a structure in place. Part 4a, tax avoidence.
See you in jail resi, maybe next to my cell.CATA
Asset Protection Specialist
[email protected]Yes, a SMSF can buy units in a hybrid trust provided the relevant SMSF deed includes this investment power (as most do) and the manner of investment is not contrary to any of the provisions of the SIS Legislation.
However I am not a specialists in SMSFs and I suggest you seek further advice.
CATA
Asset Protection Specialist
[email protected]It would be the same as a business. Hold assets in one trust and trade from another, to limit liability.
CATA
Asset Protection Specialist
[email protected]Hi resiwealth.
I have seen it done legally. I believe it depends on the Super Fund Deed, but I do not know any more.
CATA
Asset Protection Specialist
[email protected]Photo’s are old also. The pics of my house still have the tennis court up the street. It was redeveloped about 18 mths ago.
CATA
Asset Protection Specialist
[email protected]Here is one to think about.
SMSF buys units in a Hybrid trust(some SMSF can do this). Hybrid tust uses monies as deposit for IP.
CATA
Asset Protection Specialist
[email protected]Originally posted by tonyy21692:What can I say, some people will just never get it.
Maybe you should look at from Terry’s point of view. Why close a loophope if it is not necessary?
CATA
Asset Protection Specialist
[email protected]We have nothing but problems with Wizard and are now refinancing mainly to get away from them. After sales service was our problem.
CATA
Asset Protection Specialist
[email protected]
