Yes, this is true. Handed over does mean you no longer own them or are responsible for their upkeep.   No we've established that are they written off or depreciated?

Hi TerryPlease correct me if I'm wrong, but upon reading about post testamentary trusts they are useful for distributing income but the capital in the trust is allocated specifically as per government rules.  The asset protection for a discretionary trust comes from the fact that no one owns anything or has any entitlement.  This wouldn't work w…[Read more]

Thanks TerryMost appreciated We can protect the property in the company OK, but was mainly interetsed in diverting the business revenue into a protected structure.  the business could easily be transferred to a trust which can allocate the profits so that should be OK.  It's a good time to do it now becuase the balance sheet is not that i…[Read more]

HiFor all who have asked I've just put my Dymphna  course on Ebay.  There are 15 DVDs and a folder of course notes.  Do a search for Dymphna on Ebay and you'll find it.Graeme

Robbie that was shameful the way you were responded to.  Good luck with your endeavors.

I brought a seminar workbook and the a heap of DVDs of a Dymphna seminar off eBay.   It's all pretty sound stuff and reasonably thorough, but it's nothing I haven't heard before.  However, for someone a bit newer and less well read it would be a good start.  Paying a couple of hundred on ebay is cool, but I wouldn't bother "investing" in a sem…[Read more]

Very sorry,, I just read my post and realise the thax deductions are $5k, but the credits amount to $15k.

This makes the actual cost to the purchaser of $188k.

Would an arms length purchaser get a CGT base of $200k (the contract purchase price) when it effectively only cost $188k ??

Could Person A get a $5k tax deduction while the trust gets…[Read more]

That’s really sad. I was listening to a great CD the other day by Rob Balanda of http://www.clausesmadesimple.com In hind sight how easy would it have to pay a few dollars for his Joint Ventures kit and found out that the partner who hasn’t got his/her name on the title should protect his/herself by logding a caveat on the title. The partner then…[Read more]

That’s interesting advice- don’t lodge a tax return for years?

Rick Otton talks about doing second mortgage carryback on properties that he turns over quickly which means that profits would be trading profits taxed in full, not CGT.

Any other suggestions?