Hi Reneebol10,

Congrats on your new baby.

A question for the more knowledgeable forum locals: 
Would it be more beneficial for mum to sell the property (at market value) and to gift the money instead?

It looks to me that mums property is currently being used as an investment and that it will remain an investment after it is sold at a "favorable…[Read more]

Hey wilko1, thanks for clearing that up even further,

I do have a better understanding of it now, thanks to you and to terryw.  Still a long way to go for me but like anything that is worthwhile, it takes time to achieve.  I am sure that I still have tons to learn and will make many mistakes during the journey – hopefully just small mistakes.  It…[Read more]

Half your luck – being in Krabi Thailand.  That would be awesome.  It's mandate to get spelling and grammar wrong when doing such things so, yet again, you are correctly "in the zone"..  hehe
Your comments still make more sense than mine do and I am not on a beach.
Thanks for the info.  Will look into trusts further as there are many opportunities…[Read more]

I should have entered this forum ages ago – wow – thanks to both of you, for the updates.

Just on trusts, I ruled out creating a unit trusts because I didn't feel that it was at arms length (I could be wrong) so I thought that it wouldn't help my situation to get where I wanted it to.  Then again, maybe I should create a separate entity to…[Read more]

We agree 100% Terryw,
We think that protecting what we have is paramount too.  
We have looked and discussed a few avenues that we could take.  
I have a fair understanding of unit, discretionary or hybrid trusts to control our assets but "fair" understanding doesn't cut it because it's far more complicated than I suppose or even more complicated…[Read more]

Thanks Terryw. 

I knew that writing that we were debt free (on our PPOR) would get us some unwanted attention!   We did it the "delayed gratification" style – No flat screen TV's. A bit boring but works a treat if you want to buy property sooner.
Fortunately, wife and I are pretty good savers and that means knowing how to hold onto our money.…[Read more]

Thanks wilko1,

It's always great to read your updates.  I appreciate the time you have taken – you do make sense.  
I've setup another meeting with my accountant to hash out all my options so that I can see which one works best for our situation and risk profile.  
You are right, development is a business and it should be profitable whether the…[Read more]

Hi Terryw,

Thank-you for your update.  
Yes, I have organized time with my accountant (this week) to discuss many matters.
I also want to add that your online entries are fantastic and would have helped so many lives.  
I wish you all the best. 

Hi wilko1,

Thanks for your reply.  Ok, that makes a bit more sense to me – please excuse my ignorance about it all.  
I will meet with my accountant this week to discuss. If you are able to reply again – My scenario is this.

*Wife and I own our current PPOR outright. 
*GST registered business was setup.
*Land purchased with wife as tenants in…[Read more]

Hi dodo_lurker
I haven't seen another reply yet so I thought that I'd make another comment.

Yes, you are right about it being possible because many subdivided lots have been sold by developers without an OC.  
eg: A subdivision that retains direct street access (for all of the lots) may or may not need an OC.  It really depends on…[Read more]

Hi dodo_lurker,

This is my 1st entry in this forum.  There are many others that would answer your question in far greater detail and accuracy but I've always wanted to answer a call.
BTW: I have my own questions to ask but I'll ask them in another entry. 

My understanding is that Body Corp became an "Owners Corporation" at the end of 2007.

An…[Read more]