Thanks all for yours reply and emails, but like suggested, I’ll talk to my accountant in a few weeks when I do my return.

Orion

Mel,

Can you explain a bit how this can be done?

What allowed you to carry over your taxable income? Was is the sale of something, or the re-financing of something.

Very interested. [biggrin]

Kind Regards,

Orion [evo]

Originally posted by melbear:
Don’t know if this will answer your question, but for FY 02/03 my taxable income was -$107K, so…[Read more]

Terry,

I was wondering where I can get such a contract?

Is there an example of such a contract somewhere that I can download? Or do I have to get lawyers involved?

I guess another option is to write it myself based on a home loan that I currently have, but would it be considered legal? [blink]

Any advice/ideas would be greatly appriciated.…[Read more]

TerryW

You have made my day.

Thanks

Orion

Zimonya,

Trust Magic deals only with trusts and Tax Battles although it does talk a bit about trusts covers other things like tenants and property development and how they impact on your tax. I would say that both are useful.

If anyone is interested, I have a copy of ‘Tax Battles’ that I’ve read and I’m willing to pass on to anyone. If your…[Read more]

Originally posted by betterbiz:
I’ve just re-read the post and the responses and since it doesn’t appear to be mentioned anywhere I guess it begs the question – why would you want your family home in trust in the first place? – asset protection (from creditors) only?

Betterbiz,

There are two things that I’m trying to follow up on from verious…[Read more]

BetterBiz,

Sorry if I wasn’t too clear about my last reply.

I think you might be reading more in to my question then was originally intended. I have posted other questions recently that explain other aspects of my financial situation, but I was hoping to keep the questions separate and general in nature.

I’ll explain here my fuller situation so…[Read more]

Hello all,

Thanks to all the people that have replied so far. From what I gather is that the ATO has no problem with the Hybrid Trust concept as long as the person who is living in the property which is being negatively geared is not a member of the Family who set up the Hybrid Trust in the first place.

This in fact confirms one part of the…[Read more]

Julian,

The setting up of the trust cost me about $1000 (see http://www.chrisbatten.com.au). Since my original purchase, I’ve seen someone indicate that the trust should cost about $500, but I’ve never followed up who would sets it up.

In addition, you need to pay about $200 for the stamp duty. The cost of the trust that I’ve indicated, is only if a…[Read more]

Hello,

Thank you for your replies.

I guess I should have also added the fact (you always things of things after you write the post) that in a couple of years we plan to rent the house out and move into another house and so I wanted the house to become ready to become an investment property.

Thanks

Kind reagrds,

Chris