Thanks, you see it is quite complex as my grandfather is still alive (88yo) and has an inheritance yet to pass to my father. 
Dads also still interested in property investing and wants to keep building a property porfolio. I suppose I really need to try and keep on top of this.

Hello Terryw,

Firstly thanks for your help.

I am in ACT. Today I made contact with the three different supperanuation companies in order to get the binding nomination forms. Soon I will get him to fill them out and I will put them away in the safe. Perhaps not before I talk to him about preparing a will.

Do you have any more helpfull advice on the steps I should take to get the will sorted?
He has told me that he wants me to be the "Primary" beneficiary in the will and that he will leave her enough to survive
and live a secure life.

Dad and myself have shared the last 23 years together and she has been in the picture with dad only one year!
I hardly feel its fair that she should be entitled to anything more than 15%, and dad understands and agrees!

So really I need to figure out how to get this thing sorted under the radar. I need to get a professional will written and approved and put away in safe never to be talked about again untill it is needed or needs to be updated.
Also I suppose the lawyers/solicitors would keep a copy.

Bjaust, when you talk about binding/non binding nominations as beneficiary are you talking about assets held in a will or the superannuation/ share investment funds?

Also I am a little confused who would be the trustee in my case?

No, its not hex….

Hex is basically when you are borrowing money from the gov because you cant afford to pay it yourself. Then you have to
pay it back with pre-tax income (I Beleive) once you start working.

In my case i have savings so i just pay the lot as i go.  That way i am not paying any interest to the gov.

My question is can i tax deduct these payments?

Anybody Please??

Stephen

We are not in bussiness nor are we borrowing. We would just like to make the most of what we have got! So employee income cannt be funneled in a trust that is what i suspected. However there is still another 40,000 or so in investment income.  Can this be funneled through a trust?

We will seek professional advice

Stephen

Thank you,

Since i wrote that ive have been talking to a freind and he said that this sort of thing is often refered two as a joint venture.
Could you plase explain how a “joint venture” works

thanks
Stephen

Buying and holding a positivlyneutral geared place is what i would like to aim for. I am interested in using the FHBG living there and lodging the other rooms to people for 6 months (to use the grant i must live their for 6 months within the first 12 months) then once 6 months is over i move out and rent the property outright.

stephen

Yes after reading it a few more times i understand it now thanx

Stephen

Am i not legally allowed to lodge out the rest of the place and actully recieve rent from them during the 6 months in which i plan to live there because of the conditions of the use of the grant?
What i mean is say if it was a 3 bedroom place then charge rent for people living in other 2 rooms

plz clarify!

stephen