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Viewing 8 posts - 1 through 8 (of 8 total)
  • Profile photo of on the ladderon the ladder
    Participant
    @on-the-ladder
    Join Date: 2010
    Post Count: 12
    June 26, 2016 - 4:19 pm

    Thanks everyone. Great info from the forum as always.
    Yes. We don’t know the benefit of buying in a company name either at this point. She is off to see the accountant tomorrow so hopefully he can give her some more info at what to do with it.

    cheers!

    Profile photo of on the ladderon the ladder
    Participant
    @on-the-ladder
    Join Date: 2010
    Post Count: 12
    June 25, 2016 - 7:36 pm

    Hi all
    My friend just wanted to emphasise that the company is now non operating company and only included shares and investment property when it was in operation. Any ideas on how she, as the owner of the Company (and sole director), access the funds for use other than to purchase another investment property?

    thanks in advance for any advice you may have

    Profile photo of on the ladderon the ladder
    Participant
    @on-the-ladder
    Join Date: 2010
    Post Count: 12
    June 25, 2016 - 3:59 pm

    Thanks Terry
    Yes. She is getting advice but we just wanted to put it out to the forum as well.
    Basically, it is hard to see the benefits of having had the property set up as a company with her as the sole director (her late partner left it to her that way) if she can’t actually use the money. She is retired and self funded and doesn’t want the bother of having another investment property at this stage of her life so is really confused as to what she can use the money for.

    Profile photo of on the ladderon the ladder
    Participant
    @on-the-ladder
    Join Date: 2010
    Post Count: 12
    November 28, 2012 - 9:49 am

    Tania Walker (only her!!) at First National Nicholson

    Profile photo of on the ladderon the ladder
    Participant
    @on-the-ladder
    Join Date: 2010
    Post Count: 12
    February 25, 2011 - 4:45 am

    just had another look on the site and came across a post regarding 'Vendor Finance' and some with 'deferred interest repayments'.

    does anyone think that is an option? mum and dad don't need the money yet as it would upset their financial 'balance' and it would probably help my brother as well, just as long as it doesn't lessen his chance to claim things on tax as the 'owner'.

    any thoughts welcome

    Profile photo of on the ladderon the ladder
    Participant
    @on-the-ladder
    Join Date: 2010
    Post Count: 12
    February 25, 2011 - 2:58 am

    thanks and good point. I know they have given up the primary producer title but not sure when and if it applied to these two blocks (we had a large cattle property separate from this and sold it about 20yrs ago). I will look into it for sure….thanks again

    Profile photo of on the ladderon the ladder
    Participant
    @on-the-ladder
    Join Date: 2010
    Post Count: 12
    October 25, 2010 - 5:35 am

    thanks everyone for your input.
    <br /:)” title=”>:)” class=”bbcode_smiley” />

    Profile photo of on the ladderon the ladder
    Participant
    @on-the-ladder
    Join Date: 2010
    Post Count: 12
    October 22, 2010 - 9:03 pm

    thanks everyone
    nope. no spouse…. it is just lil' old me with two mortgages ie. crazy!!! although i am pretty lucky cause the rents combined cover the repayments and a bit of the property manager fees but i am just trying to work out if there is a better way of getting that  50 thousand to work for me. at a term deposit of 6.24% for 9mths, i would earn $2,343.75 which would pay for one year of one house rates…tempting. i know i have to pay tax on what i make in TD interest as well, but as the houses are investment (i am paying off principal and interest) any tax benefits in using the money elsewhere?

    thanks again!

    cheers

Viewing 8 posts - 1 through 8 (of 8 total)