Hi everyone,We have a trust, too.Just to clarify, the eligibility to the 50% CGT discount is dependant on who receives the trust distribution. eg a person would receive the 50% discount if the trust held a property for more than a year, but if the funds were distributed to a company, the company would not be eligible.Does that help a bit, or have…[Read more]

Hi Clintjs,Would love to have someone to play with. So hard to find people to play with!Keep me updated.Cheers,E.

Hi Clintjs,Very interested in cashflow. It's hard to find ppl to play it with.Keep me updated!Cheers,E.

Hi Richard, Terry & Brett,Thank you all for your information. The pmi site will be particularly useful!The problem is that we are self-employed so we are waiting on our accountant for financials. Just looking at our options, as we've hit a bit of a rut. We've been trying to put our business under management for the last 6-9 months, but actually…[Read more]

Valuations (read valuers) can be a real problem at times. Most are ok.We had one valuation done on an IP. At the time the valuer came through we actually had a plumber ON SITE installing a dishwasher. The valuer informed me that even though the installation would be completed that day, he WOULD NOT take into account the dishwasher in the valuation…[Read more]

Hi Emmajames,We'd be in for it with a bit of notice.Keep us informed. Cheers,E.

Hi Debden,Have a quick look at this link. By no means comprehensive, but it might help your friend with some ideas.https://www.propertyinvesting.com/strategies/creativefinancingI've used the vendor finance & delayed settlement a few times with good results.Cheers,E.

Hi Psychiatrist,A PM is definately the way to go. I agree that tenant insurance is also a must. Check out the policy as much as you check out the PM, though. A lot of policies won't cover you for rent if the tenant is not up to date & IN ADVANCE at the commencement of the policy. Check what they cover for malicious damage. It can be really hard to…[Read more]

Very interesting posts here. I'm learning a lot – thanks!I've never actually thought about a trust this way before. When we set ours up it was recommended by our accountant. I did a bit of research to satisfy myself that this was a good way to go, then went ahead & did it.Are there any other big potential issues to be aware of? I might go back &…[Read more]

Thanks Cata & Raddles. Your information is appreciated!Raddles, you obviously know a lot about this sort of thing. Is there a particular wording that you suggest Cameron should look for in the trust deeds to make the situation as workable as possible? I must admit that I hadn't even considered this situation when we had our trust set up. I might…[Read more]

Hi Raddles,Thanks for that. I suggested to him to go the whole way too. I can, though, understand his concerns as it's something he hasn't done before. As a friend I would rather him give it a go by putting a toe in than not have a go at all.I will suggest he check with his solicitor. E.

Originally posted by Terryw:
Yearly, and its free!!!!

Terryw
Discover Home Loans
[email protected]
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Hi Terryw,

So how do you get a free valuation? [blink] Do you mean by a licenced valuer or a RE agent?

Have a great day!

E.

Hi Ryan,

Putting the money towards a PPOR is DEFINATELY worth considering. You can use the money now to improve your position, then simply borrow against it later when you find an IP. We did this when purchasing some of our IPs. We simply spoke to our mortgage broker (hint – ALWAYS use a mortgage broker unless you have specific contacts in a…[Read more]

Hi Terryw,

Thanks for your reply.[biggrin]

The main attraction for this proposition is not really financial. My husband & I have been property investors for several years. We had ourselves on the way to financial freedom, when our son was diagnosed with an illness which required expensive treatment. We were forced to sell our home & several…[Read more]

Hi Munno,

You are ususally best to keep the two loans separate. It makes it easier to distinguish which expenses are attributable to which loans (properties) & therefore which can be claimed on your tax & which can’t. You might save yourself monthly fees by having the loans combined, but you would probably end up paying your accountant more than…[Read more]

Hi Frank,

Just remember that all states have different laws regarding strata titling. For example, SA abolished strata titles a few years back & they were replaced by community titles. Most of the rules are still the same, but a few changed dramatically (particularly regarding ownership rights!). I believe that NSW, Vic & QLD all have different…[Read more]

Hi,

What happens in the situation where you run a seasonal business, say maybe an ice cream shop or a beach kiosk, & you expect your taxable income to be higher than it actually is? Is there a general rule of thumb that the ATO works on, maybe a %? It would seem to me that there would be heaps of people who would find themselves in this…[Read more]

You might want to check about being able to withdraw voluntary superannuation payments. I checked this with both of our super funds earlier this year, & was told that ALL super contributions are now protected (preserved). This includes voluntary.

We were particularly keen to check this, as we planned to (& currently do) pay our staff their…[Read more]

Hi all,
For those of you who are brokers or those of you who already have trusts, how hard is it to get finance for a property to be purchased in a trust? We already have a number of properties but due to poor accounting advice (by a qualified accountant, too!) they are in our names.
I see that someone suggested to have a separate trust for each…[Read more]