I think I get this now. You set the trust up and all family and relations get picked up under the general beneficiaries. As trustee though you may choose who if any to distrubute to. In practice, this could just be yourself.

Ian

Thanks Steve,

I’d like to add another ‘P’ if I may, similar to Passion, and that is Persistence.

To quote Calvin Coolidge:

“Nothing in the world can take the place of persistance.
Talent will not; nothing is more common than unsuccessful men with talent.
Genius will not; Unrewarded genius is almost a proverb.
Education will not; the world is…[Read more]

Originally posted by breakingout:
Hi Ian

we have been out and about several times a week. had a lovely day on the sunshine coast-saturday, beautiful very heavily negitive geared unit at caloundra – would be better for those in a higher tax bracket. Did see some units 2 of which we a seriously considering just waiting for replies from the all…[Read more]

Alison,
Still learning here myself… but my understanding is that a trust is not a legal ‘entity’ for tax purposes and that tax benefits/liabilities flow through the structure to the beneficiaries who pay at their appropriate tax rate.

Any benefits retained by a trust are taxed at the top tax rate.

Places to start looking are Steve’s Wealth…[Read more]

Terry,

Point taken, thanks. I already have a company which was used when I was doing some consulting work. It is essentially mothballed at the moment (still have to do those pesky BAS forms though!).

I’ve thought about using this as the corporate trustee, but I believe that you should separate a trading business from the property side.

This…[Read more]

As Steve says, to look at an area, you need to hop in the car and have a look. It gives you a chance to get a feel for the area, have a look in real estate windows and pick up the local paper in a newsagents.

I’ll be there. I get a chance to put some faces to names and invest in my education at the same time[]

Recovery,

You could try this one…[]

http://www.govt.nz/en/search/topic-service-single-record/?urn=urn:nzgls-sn:100002:1000022

I think I’ve hit just about every local council in OZ over the last few hours compiling my list. Just about ready to start on NZ.

Ian

Also, on the topic of mailing out CD’s with the program, if you want to drop me a private email with a contact address, I’ll see what I can do.

Happy to make this one a freebie (as long as I don’t get buried in too many requests for CD’s.)[^]

Ian

1. I am in the process of upgrading the program to a database which will cater for AU & NZ.

Given that NZ don’t have states, this will be set to N/A. I will be including a coutry field. Though I will need help if there are variances in tax laws (undoubtedly).

2. Deductions doesn’t do anything yet. It is a work in progress (I should have hidden…[Read more]

Originally posted by Lucifer_au:

…snip…

Also can you put in a capitlisation tick box (as I get all my loan costs where possible). This could add to a saleable difference…

Lastly my help file executor has become corrupt so I couldn’t look up (or figure out) your ‘Deductions’ section, with the ‘memory’ (1,2,3,4,5 boxs) section, but I guess…[Read more]

My program is only 420Kb zipped, its the damn MS Frameworks [!] which are so big!

Ever seen a small service pack??

Apologies….

Urgh, dialup…

Couldn’t go back there again, just too slow, ADSL is so more better [:p]

I know the 23 mb download is a pain, but it is a once off (required by any app written in MS .Net)

The version I am currently working on will have hooks into a bunch of websites, so from within the program you will just click a button to automatically…[Read more]

All,

Well, I’ve had a few reads but no responses[]
Does this mean:

a. The program is of no interest?
b. It is of no use?
c. People have their own tools and don’t need it
d. It could be interesting, but is currently to limiting?
e. It looks interesting and they haven’t got around to commenting yet..

Seriously though, I am doing a bit of work on…[Read more]

Oh, and also, all the usual disclaimers apply, I’m a programmer not an accountant. Please seek a second (qualified) opinion before doing anything this program may recommend.

PS: I am working on an update at the moment which includes payback periods and allows you to load and save.

If we get some interest, I will make it available.

Cheers,
Ian []