Total Members: 159,074

gctaeger

  • gctaeger replied to the topic Gold Coast Tax Accountant in the forum No Subject 18 years, 6 months ago

    Thanks Richard

    Regards

    Claude

  • gctaeger replied to the topic Where is Rich Dad? – Will your sons retired by 23? in the forum Help Needed! 18 years, 7 months ago

    We’re about to start on our kids (10 & 8), My son (8 yo) saves his pocket money and buys his own ps2 games….(yes not value adding) he also looks at trading games he doesn’t play with. his really tight with his money and usually collects my loose change I leave on the counter. He is arranging a toy garage sale and has seperated his toys. My…[Read more]

  • gctaeger replied to the topic Question about discretionary trust – negative gear in the forum Legal & Accounting 18 years, 7 months ago

    hi ptn

    I’m not aware of an online site and wouldn’t recommend one.You should see a lawyer (one with property experience would be preferrable) and you can discuss the best structure for your circumstances.
    If your heading down the Trust path you will need a company set up as the Trustee (approx $350 – $400) and the Trust Deed (around $1200). There…[Read more]

  • gctaeger replied to the topic Question about discretionary trust – negative gear in the forum Legal & Accounting 18 years, 7 months ago

    The hybrid trust is a unit trust and revenue must be distributed to the unit holder….so I would imagine that if you have the borrowing for the units in the Trust then you have would get the income. You can issue capital units and income units so your wife could get the capital gains from the sale of the property whilst you get the income from…[Read more]

  • gctaeger replied to the topic companies and unit trusts in the forum Legal & Accounting 18 years, 7 months ago

    I recommend you get Dale Gatherum-Goss’ book called Tax Magic – it’s about $99 but explains Trust in such a simple & easy way.

    Hope this helps

    Regards

    Claude

  • gctaeger replied to the topic Question about discretionary trust – negative gear in the forum Legal & Accounting 18 years, 7 months ago

    Some points

    Discretionary Trusts that have -ve cashflow can not distribute a loss to the beneficiaries, however are accumulated over the life of the trust and offset any future income that the trust earns. i.e. if there is a loss in yr 1 of $2k and in yr2 of $1k but a gain in yr3 of $4k, then the Trust must distribute a net gain of $1k

    Hybrid…[Read more]

gctaeger

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