Forum Replies Created
[
]Westan, hurry back.[
]Best of luck with the move, and new life. Enjoy your last day of work[
], and don’t have too much celebrations – packing while hung over is not fun!Cheers
MelTo save on the company costs to start with, you could simply have yourself as the trustee, which will affect the extent of your asset protection, but will save you annual fees etc. for the company.
I would definitely start with a trust if that’s how you wish to proceed. It is costly to transfer them over later, so most don’t do it, and have to wear the ‘risk’ of having them in personal names.
I have a vending business, and my Mum was helping. She made the mistake of giving one kid a lolly – hundreds appeared!! One fellow came back for seconds – it had gone down his throat. She told him that he’d already had one. He then said ‘I’ll sue you for giving away free lollies!’. Gotta love where society is going when this is the automatic reaction from a 7 year old kid[
]Cheers
MelYes, but neither NATS or his/her sister would qualify anyway for the FHOG if they continue with the strategy outlined.
To avoid CGT is really, really easy – don’t sell![}
]In ACT, if you buy an investment, you can claim the stamp duty on your tax. If you buy PPOR you cannot, so you can almost get that $7000 back anyway, especially considering current stamp duty rates.
Cheers
Mel
]
]
], and don’t have too much celebrations – packing while hung over is not fun!
