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gomez109

  • gomez109 replied to the topic Duty changes QLD – Opinions in the forum General Property 13 years, 4 months ago

    So, if you wanted to make a bit of money from this, couldn't you buy a large block of land now (under the old stamp duty rates) and then commence building 3 townhouses for investment purposes on the land after 1st August, you could claim this 3 times, couldn't you?(Of course, it does need to make sense in its own right, but given I was thinking…[Read more]

  • gomez109 replied to the topic Discretionary Trust questions in the forum Legal & Accounting 13 years, 5 months ago

    Hi Terry,

    Thanks very much for your thoughts. It’s always very helpful to bounce ideas off other people, particularly when they seem to be as well informed as you are!

    Cheers,

    TIm

  • gomez109 replied to the topic Discretionary Trust questions in the forum Legal & Accounting 13 years, 5 months ago

    Hi Terry,

    I appreciate that the asset will grow in value and when it is sold there will be a profit — but that profit will need to be distributed as a capital gain to the beneficiaries so cannot be used to pay off the “loan”. So the only real way for the trust to acquire capital seems to be through non-cash deductibles like depreciation.

    Sorry…[Read more]

  • gomez109 replied to the topic Estimating depreciation in the forum Legal & Accounting 13 years, 5 months ago

    Thanks for all the great input, much appreciated. And I certainly agree and would never buy a place just for a depreciation allowance. However, when trying to quantitatively determine whether a brand new property is a better investment than a similar configuration but older property with smaller price tag, depreciation does come into it.

    (As do…[Read more]

  • gomez109 replied to the topic Discretionary Trust questions in the forum Legal & Accounting 13 years, 5 months ago

    Hi Terry,

    That’s very helpful, thank you.

    I guess what I’m getting confused about in the first scenario is: If the trust has to distribute all it’s profit to beneficiaries then it will never have any money to repay the “loan”. The only way it seems to be able to get money is to have it gifted.

    So if it makes $1,000 and has to distribute it,…[Read more]

  • gomez109 replied to the topic Multiple loan consolidation? in the forum Finance 15 years, 8 months ago

    Thanks Richard, that clears it up. So really you're talking about splitting a loan secured by a single security into multiple separate accounts all under the same loan. Something like St George's portfolio loan.Now I've just got to find a lender that offers this split facility with an offset account… Out of curiosity, do you know if I can…[Read more]

  • gomez109 replied to the topic Whose money is it anyway? in the forum Legal & Accounting 15 years, 8 months ago

    Eddiec, thanks very much, that's what I thought. IP Freely, sorry if I was unclear. There would be 3 accounts, 2 loans and 2 properties. My wife owns one property, one loan and an offset account, all in her name. I own one property, one loan and an offset account, all in my name. The third account is not an offset account, but it's just a normal…[Read more]

  • gomez109 replied to the topic Multiple loan consolidation? in the forum Hi Richard,
    Thanks very much
    15 years, 8 months ago

    Hi Richard,Thanks very much for getting back to me. My loans are both I/O and not P&I, but they both have redraw facilities on them, so I've put some extra money into them in order to reduce the interest. That's what I meant by "ahead of the repayments"; badly worded I know.After your comment, I read the "10 disadvantages of cross collateralizing"…[Read more]

gomez109

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