Yes, the property is in WA.

terrible mistake i started with and settlement agent made to me.

The evidence we can show OSR is trust deed. It shows the trustee of trust is that company. I am not a valid trustee to the trust.

Hence, if OSR believes I signed contract as capacity of my own, it's not a valid contract as I am not trustee. The company…[Read more]

Thank you Scott for your reply.

At the time the Offer and Acceptance was signed, the lawful trustee is that company. Therefore, a Trust appointed me as trustee did not exist.

Also, I would prefer to have a company trustee for that Trust.

I contacted OSR and been advised myself was not valid trustee. I will submit a letter to OSR to explain how…[Read more]

Thanks

Qlds007 wrote:
Hi MichaelHow many lenders do you know of that are still lending to PIT's.I can think of 3 and their lending policy is horrid.

Hi Richard,Is it possibale that I borrow money from bank and then buy units in trust? Thanks,MichaelGG

Dan,Thanks a lot for clarifying your previous reply. I found it really helped me.Ryan,Love to read your posts. learnt many things from your other threads. ThanksBTW, I think i will set up an appropriate structure before the 1st IP.Number 8,I think the property investment trust (PIT) can distribute losses. I am still struggling to find a good…[Read more]

Hi Dan,

Thanks for sharing.

By using trust and company, there is the higher maintenance costs. Plus, no 50% capital gain discount entitled. No access to loss.

Therefore, the reason that people using this structure is mainly to avoid risk?

High income earner should buy couple negative gear investment under their name. And, they should buy…[Read more]

Boogz & Paul,

Thanks for your reply.

Boogz,

I was thinking to use my company. But, I just found out it was not a good way to protect yourself. $1 company should be set up as the trustee. Cause it will control property but not own it. Correct me if I’m wrong.

Paul,

Would you mind to share more info to this kind of insurance (insurance company,…[Read more]

Hi Terryw, thank you for your reply. I'm not quite sure what's a green book? need to clarify this with my friends.we are in WA.Thanks,MichaelGG