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Originally posted by Still in School
“Understanding Unit Trust” A guide for Australian Investors.

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SIS, dymocks web page has this about this book.

In this book popular finance authors, Beelaerts and Forde, take a close look at investing your money in unit trusts. There is detailed information on the different types of trusts available and how trusts are set up and managed.

So I gather it covers the investing in unit trusts set up by fund managers etc., and how they are set up, but does that final sentence mean it will tell you how you can set them up yourself for yourself?

Cheers
Mel

Good luck with it. Mortgage Hunter and TerryW appear to be the guys that log on most often. So if it wasn’t one of those two, and you don’t get a response, try them.

Cheers
Mel

Trust Magic from http://www.gatherumgoss.com, or else there’s been a couple written by N.E. Renton that might help.

Cheers
Mel

Luke, I suggest you definitely contact one of the Mortgage brokers on this site. You can give them more details in privacy, and they can tell you if you in fact do have a problem, and what your options are. I think there are always options.

Cheers
Mel

1: if I work full time and my partner is a full time student is there any advantage in buying IP’s in her name?

It depends on your long term strategy. I would consider setting up a family (discretionary) trust, as this gives you the option of who to distribute the income or CG to (if you sell). Far more options for down the track when circumstances may have changed beyond what you thought might happen.

2: in the future if I was to leave my job to become a full time investor what rate would i pay capital gains tax at.?

Your current marginal tax rate. If held <1 year, you halve the gain and add the remainder to your taxable income. See 1 above on how to minimise this.

3: if I setup a Business that buys Ip’s to add value and then sell the property within 1 year what would the rate of capital gains be?

Companies will pay tax at 30% – no CGT exemption for them. I would still consider doing this option within a trust – not the same trust as in 1, because you will be classed a ‘trader’ if you do this often, and you don’t want your entire portfolio classed as a trader.

Get some good advice from an accountant.[8D]

Cheers
Mel

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Originally posted by kay henry
I could set myself up to give seminars for 50k- but why would the ATO accept you using it as a tax deduction? Surely, there is some regulation on what is accepted and what isn’t?

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So are we saying that we wouldn’t claim Steve’s seminars? If I learn something that is going to help me with my ‘career’ – in this case property investing – why can I not claim it? Why can I claim Uni fees? Because theoretically it *should* help me to improve my income, and therefore the tax I pay. If you can get people to pay you $50K for your seminar, AND can teach them something that will help them to make money, then go for it.[]

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The questions from the ATO go:

What properties did you own before the seminar?
What did you pay, what rental etc.

How long was the seminar (give us the notes!!). What were the topics covered? what (specifically) did you use in the seminar to increase your rental income. If you have not yet, what will you use to increase etc. etc.

What have you bought/sold since attending the seminar.

Same/same for shares.

It’s like a uni course. As a public servant, my management degree (ha ha) was relevant to my workplace, so I could claim it. My friend, however, couldn’t claim her tourism degree – not much relevance to her current job.

My property investing seminar was very relevant to how I currently earned a lot of my income, and was not going to ‘take me to a new career’, but rather to enhance my current ‘income producing’ activities.

As I said, he got questioned on the investment seminar and the Robbins ones, I’ve only been questioned on the Robbins ones (I’ve been buying property for MUCH longer than he has), and the questionnaire has been issued by exactly the same person.

Cheers
Mel

Hi Brooke

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Originally posted by bw
I was wondering what the members thought about taking debt into retirement.

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Absolutely. I hope to take as much debt into retirment as I possibly can. I’m more than happy to leave my kids (if I have any) a massive debt, cos I know that there will be an even more massive equity built in.[]

Cheers
Mel

Thanks Julia, you’re a champ. GMH 454, this is what I was talking about. It covers your back if you do decide to have another PPOR any of the time in those 6 years etc. Because it’s hard to predict now what you want to do – I would advise to get a valuation, and just store it with your files. Your tax return will love you if things do change.

Cheers
Mel