One option is you could have a Unit Trust, where your business partner, or his/her related entity owns 20% of the units, and your discretionary trust (a new one) holds 80% of the units. The Unit Trust distributes 80% of the profits to your discretionary trust, which then distributes the profits as it sees fit. Do you own the business assets, or…[Read more]

I think you are counting some expenses twice. Here's my guess:Interest of approx $18k, Rates, body corp, agents fees $5k, depreciation $5k to 10k, plus repairs.Total = $23k to $28k. You income based on $350 pw = $18,200.You would be looking at a tax loss of $5k to $10k.

From what you've said, the interest on the loan to purchase your wife's property should be deductible. The only other issue, if I've read it correctly, is that the two investment properties would then be in your name. Depending on your income and your wife's income, this may or may not be the best strategy for tax purposes.

How long ahve you lived in the rented house? You will be up for a portion of the advertising, leasing costs, and rent until a new tenant is found. And it would usually come out of the bond, assuming the bond covers it.

I'm with Terry, that's no way to do business. That email cost Manoj business, not gain him new business.

I'm with Terry, that's no way to do business. That email cost Manoj business, not gain him new business.

If you are a full fee paying student, you MAY be able to deduct your fees, but only if it relates to your current income.

Got there in the end!There would be no GST issues, as it is a residential house. There would be stamp duty consequences on transferring fromn yourself to a trust. There MAY be capital gains consequences, as the PPOR was previously held in a trust. I'd need more details to see what the CGT would be. I'd suggest leaving your PPOR in your own name,…[Read more]

If your property is negatively geared, and you have no other income to offset this against, the losses from your RP accumulate, so they can be deducted in future years. For depreciation, I would advise to pay the money (it's tax deductible) and get a Quantity Surveyor's report.

Yan,If you signed the offer 'subject to finance' you should not lose your deposit.

Yes.

A capital loss can only be offset against capital gains, it can't be offset against ordinary income.

It looks as though you are renting at the moment? Is this correct?If so, you wouldn't pay any CGT if you sold at the moment, as your house would still qualify under the 6 year rule. Basically, you can be away from your main residence for up to 6 years and it is still exempt from CGT, as long as you do not have another PPOR.

Firstly, you are exactly right to want a separate DT for business and property holdings. There seems to be two different points here.1) A company acting as trustee CAN be a beneficiary of a trust, but it SHOULD not. It's sole objective should be to act as the trustee. Also, if Company trustee of DT01 is a beneficiary of DT 02, a 'trustee…[Read more]

a) ASIC requires that the minute book of the company be available to the public, at its 'registered office'. A lot of companies have their registered office as their accountants office, so ASIC correspondence goes straight to the accountant. Your 'trading' address would be your home or business address.b) You don't need to register the company f…[Read more]

WJ,There is no requirement to move back in to the house in this situation.

In your situation, you will qualify for the 100% main residence exemption, if it is sold in 2 years as you plan, because: – Your house was your main residence before you moved out. – You are not buying another main residence (you are moving into your daughter's house) – You are planning on selling in less than six years.Dan

What state are you in?

Hi Skippy,The test for deductibility of interest is, 'What were the funds used for?' So, in your situation, the interest would not automatically be deductible, just because the security is an IP. If the funds were used as a depoisit on a new IP, then yes, the interest would be deductible. If it was for a new car or a deposit on a new PPoR, then…[Read more]

hbbehrendorff wrote:

SHales wrote:
….. they should do so improving infrastructure – particularly that which  makes the country globally competitive and economically strong. 

Can you or anyone else please explain to me how spending money we currently do not have on Infrastructure improves our economy ? Because In my opinion it doesnt,  Yo…[Read more]