Thanks guys for this thread it is really important that people understand what is going on with their structures.

The above is true regarding only one director of the company. That person carries the risk. The other person is then free and clear and can start up a new company or do whatever. Generally it is the person who already carries risk, highest earner, self employed person, etc.

 I was told very clearly by my accountant that family courts can indeed 'see through' the trusts etc. I wanted to know what would happen if my other half met a younger, blonder model and did a runner!
 

I think people need to be really clear on the structure and the strategy they use. Yeah it costs money to set up more entities but having separate entities for different strategies is important. If you are trading property have a trading company, if buy and hold have an entity to suit. I think people just assume that because they have assets in a trust they are safe. I also think they are worried about getting their money out.

Please keep this sort of information coming. It will at least make people question their accountants a bit more and make sure their structure is right.

D

I don't know if it is this high but it is really being underestimated. Australia has a very small population compared to the rest of the world. There would be plenty of wealthy foreign investors to buy out the country. If you notice every press mention of foreign investment runs along the lines of 'small, negligible, not a strong influence' etc the shock of everyones life is coming with the actual numbers (if we ever find out)

KRudd can exit at the next election please and then the foreign investment policy can go the way of nuclear power and other crap ideas that just don't work in principle.

I think KRudd likes China a lot. He has invited foreign investment from there and adopted the internet censorship ideas from the Chinese govt. Pollies always have to crawl up someones butt don't they. Oh well lets hope that the silent majority get rid of him and his lackeys. I'll vote for speedo-man even if he is too busy posing and not wearing pants to run the country. Oh wait he's running another marathon……

And does anyone believe that Glenn Stevens does not own one property? Not even one investment property?

D

Heheh, yeah the good ole days……wouldn't be doing any of this nowadays!

Yeah slowly! Looking for 2 new sites to work on. Have changed strategies to concentrate purely on development and subdivision. We will have to sell all of the next lot so we can pay down some loans. If we can get two going or one whopper site we should be on track. I'm itching for some shopping though. I'm always looking, driving round, on the net, everywhere bad huh!

That's great that you have found three flats, on the same block/title? Bring on cash flow, we have just had depreciation schedules done on the units we just finished. Bring on the deductions lol.

Keep up the drive and the dreams we will get there one day! Hope this makes sense….

D 

Mate I think the wide open part is sooo not going to happen. I don't want to scream "run, buy anything you can OMG hurry", but if you can snare a bargain or two now, better to do that than wait for something which may not happen. And you are telling me about the blocks, I'd love some cheapies but ain't gunna happen my friend .

I don't know about Adelaide. I had a quick look but I need to be in the same state as anything we develop at the moment (will grow out of that eventually, or move I think you can pick up some goodies if you are a good shopper! I like QLD but can't get up there anytime soon. This is the problem with sicking to Vic you are stuck with what you can get, you have to be extra choosy because of the inflated prices and expectations of vendors.

If I can pick up something in Perth I will even just to sit on. Still probably a little way off

D

Yeah I'm a money hungry-blood sucker lol! Shhh don't tell anyone it's off google……I'll get someone sending me nasty mail! I like yours, very profesh!

Why don't you get a Tesla? Apart from the fact that they broke two of them on top gear! And uhh I guess the price….oh and it isn't in Aus! Hmmm.

Yeah my car is almost 2.5 tonne, imagine it with batteries, I'd have to tow a trailer!

D

Yeah but how long will it take me to charge my V8? I think my family are the cause of the oil crisis glug, glug, glug!

D

Well done Christian, it really is this sort of smart thinking that will get around the housing shortage and planning rules.

D 

The only problem with hiking up income tax is that most people who can afford a top accountant wont pay over 30% tax. The only people who will hurt will be the tradies and the like who do Saturday overtime and lose all of it to tax.

Just my opinion

D

Ohh I'm only a newbie at this! I've only bought 3 properties and only done one 3 unit development (takes me up to 5 properties) which resulted in a healthy profit around the 25% mark. I wont tell you dollars but it was enough that the next 2 developments should be underway shortly. Thanks for asking, what about you?

D