Forum Replies Created
I have a friend who is in the process of permanent resident . He just finished degree in Aus , have a permanent job for 5 months. he wants to purchase an IP now, , is he qualified for an 80% loan. ( his wages is 50K pa)
thanks for your advicethanks Richard
I have no concern about cash flow to support new mortgage as I will receive compensation and finding new job is no problem at all. my concern is if the bank is to recall the loan, and if I have to rescind the contract, any penalty to the vendor even though the contract is subject to finance
thanks a lothope somebody can help me with this question: I am looking to buy another IP under joint names with my wife, if the bank had given me full financial approval but the property had not been settled and I lost my job before the settlement, will the bank recall the approval, and what would be the consequences in regards to the contract. thanks for all opinions
another question regarding family trust please, my DFT has a corporate trustee, the trustee company has an ABN & TFN, do the DFT need an ABN and TFN for tax return? or it can be the same ABN & TFN as the company
thanks
MjThanks again, Terry
I only received tax return notice for company, not for the Trust. will the due date for lodgment will be the same as the company 's ( 28th Feb 2010).
cheers
MJthank you very much Terry,
MJHi all
it may be a silly question, I set up a family trust last year tobuy 1 property, the trustee is company, so does the trust need to lodge a tax return? I Understand company can lodge nil tax return, thanks for all advice
cheersTerryw wrote:mj88 wrote:can anyone give my advice on this: I have my DFT with Company as trustee , the trust was stamped in NSW and now I am in process of buying a IP in Darwin under this trust, my question is: do I have to get the trust stamped in NT. or I can buy property anywhere without worrying about stamping again in each state
thanks heap for reply
MYou probably don't need to get it restamped. In NSW stamping depends on where the parties to the trust reside. It is probably the same in the NT – you could check by going to the website of the NT Office of State Revenue (or similar)
Terry Thank you so much for your advice
Mcan anyone give my advice on this: I have my DFT with Company as trustee , the trust was stamped in NSW and now I am in process of buying a IP in Darwin under this trust, my question is: do I have to get the trust stamped in NT. or I can buy property anywhere without worrying about stamping again in each state
thanks heap for reply
MI am interested in this structure "gift and loan bak"can you please recommend any accountant specialise in this matter , I have 3 IPs and my PPOR under my own name for tax minimization, just set up DFT for next IP. thanks a lot
MI already stamped, and in process to get finance approve for 1st IP in the trust. I think It should be simple and try to fix it in a cheaper way ratther go to a lawyer, I was advised the fee is from $900 just to look at the trust deed . so my question is if the appointer's name is not shown in the deed ( Ijust set up less then 2 weeks ago) , is it stil compliant with the trust rules?
much appreciate
M
Thanks Terry, it is a DFT, when I set it up through trustdeed.com website, I missed out the appointer . so the name of appointer was not shown on the deed. The corp trustee was appointed in the deed. I am just concerned if I leave it as it is now , any issues may incurr later. If I want to fix it, how do I do that.
thanks heap
M
