Forum Replies Created
Hi Young
This will possibly be a semi regular thing, time permitting for everyone.
I’m sure there will be a post or two to let you knowwhen the next one is.CATA
Asset Protection Specialist
[email protected]Hi Adam
Hope you and your wife are feeling better.
I would like to thank all who showed and for making it an enjoyable expirence.
[biggrin][biggrin]CATA
Asset Protection Specialist
[email protected]It would come down to liability. If the PM sent you a letter outlining possible problems and you chose not to fix the problem, you would be at fault and therefore liable.
If the PM called you (with no hard copy or proof) and told you about a problem, which was not fixed, who is to blame.
Were you told, really?
Did you receive the phone call?
Did you forget? ect.
To many variables for me.
I always get the PM to send me something in writing and I always reply in writing (and phone call) so that everything has a record.CATA
Asset Protection Specialist
[email protected]I believe in Vic the trusts are grouped so a total land value is used.
If you do a serch of Vic’s OSR website it will tell you what you need to know.OSR- Office of State Revenue
CATA
Asset Protection Specialist
[email protected]Hi Amanda
Feel free to eat if you wish, but for me I enjoy having a family dinner at home so I will not be eating out .
Drinks however…..
See you tonight.
CATA
Asset Protection Specialist
[email protected]Just a quick reminder
Be there or be….. somewhere else.[upsidedown]CATA
Asset Protection Specialist
[email protected][jerry][upsidedown][specool][biggrin]
CATA
Asset Protection Specialist
[email protected]Hi Terry
Some tell me that certain HDT’s can do the same as the unit/discretionary trust structure, depending on the deed of course.
CATA
Asset Protection Specialist
[email protected]Hi Gary
Will you be in town on the 2nd August, Wednesday night?
If so I would like to invite you th the get together at the Breakfast Creek Hotel at 7.30pm,the SUBSTATION 41 bar.
There is forum members from here and summersoft comming along and should be a good night.
CATA
Asset Protection Specialist
[email protected]Hi Jules1
A unit trust has very limited asset protection and is not something I would use. For example, if I have a unit trust (which I don’t for those who are intrested) that has two units issued, and a total net worth of $1mill inside the trust.How much is each unit worth?
$500k if you asked me and fairly easy to establish.The problem with waiting untill you have lots and lots of assets untill you look into asset protection is the longer you leave it, the more expensive it becomes. It can be cheaper to structure it the best way for you in the begining, rather than restructuring later.
Public liability insurance is an important partof asset protection,but it is just a part. From my expirence, some insurance companies are claming negligance on the land lord’s part. this means that you would not only have to fight someone sueing you in court, but also the insurance company to pay if you loose, possibly going bankrupt yourself in the process. And it is possibly more common than you think.
Everyone has different situations and should be aware of the potential risks, therefore being able to make an informed decision about how to structure assets.
CATA
Asset Protection Specialist
[email protected]Originally posted by foundation:so sue me.
Carefull F. someone might take that as advice.[biggrin]
I heard from a reliable source (but have not looked into it myself) that over ANY 4 year period that variable was cheaper. Yes ANY 4 years including the late 80’s.
CATA
Asset Protection Specialist
[email protected]Originally posted by wealth4life.com:QLD is softening.
This is a very broad statement, as is any other statement on a whole state’s economy. Some of my IP’s are still booming while others have slowed. I have also had predictions of suburbs with an estimated 16%+ capital growth per annum over the next 5 years.
Remember that each city/town has it’s own market and different suburbs move differently also.
It’s not all doom and gloom, but if you are worried about it, then make your current situation better eg. reduce debt, restructure (you know the stuff).
CATA
Asset Protection Specialist
[email protected]So it may be time to take a step back from buying and settle on watching the market for a while, and planning your next investment. If you are worried about the market dropping by 20% wouldn’t it make sense to watch the market untill it has droped, then buy…..
Just my 0.02 (got that from GR)
CATA
Asset Protection Specialist
[email protected]You can buy all sorts of reports from residex.com.au.
I find it to be a great way to start.CATA
Asset Protection Specialist
[email protected]It will depend on what investing stratagie and personal circumstances which type of trust to, use if at all. My preference if discretionary trusts because mose accountants know how they work. With a hybrid trust, yo will need a good team including accountant, lawyer, mortgage broker (you know all the property related stuff) that understands the structureas mistakes are common and then can render the trust useless.
If you want a chat about your personal situation, drop me an e-mail and Ican giveyou a few options.
CATA
Asset Protection Specialist
[email protected]http://www.superiortax.com.au
Adrian, Anita and Louise are great.They are in Mt Eliza.
CATA
Asset Protection Specialist
[email protected]I think WAHOO, more houses for me.
The rental yeild may be harder to chase tho.CATA
Asset Protection Specialist
[email protected]It is not the only way to get the loss in your personal name though.
CATA
Asset Protection Specialist
[email protected]Hi all you guys and gals
I have just booked a table in the “SUBSTATION No.41” bar.
7.30pm
Wednesday 2 August
Breakfast Creek HotelThe table is for 20 or so people, and is booked under my name “Colin Wardle”.
I will be wearing black slacks and an orange long sleve shirt.
I look forward to meeting all of you.CATA
Asset Protection Specialist
[email protected][/quote]
The Trust will buy the house for 700k (for example) & I will lend the Trust 700k to buy the house(which I will borrow from the bank).The bank loan interest will be 50k p.a. The rental income, which the Trust will distribute to me, will be 30k p.a.
I can write off the difference (50k-20k) to my tax at my marginal tax rate.
Is this example correct ?
Cheers
cia
[/quote]No qiute Cia
You borrow the $700k and buy special income units from the hybrid discretionary trust. The lncome from the house (the profits from the trust) then go back to the unit holder (you).
As you have made a personal loss, the loss is then tax deductable against your personal income.
Hope this helps
CATA
Asset Protection Specialist
[email protected]
