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Hi,
I am also new to the site but perhaps even newer than most I think (?). Just trying to figure out what these abbreviations all mean? IP and alike?
I know this probably isn’t the most appropriate place to ask but I was very interested in the
topic.Back onto the topic..have you looked down south? Eg short-term accomodation. We have done a bit of work down there and there’s definately opp’s for +ve geared stuff with a bonus ‘lifestyle’ investment upside.
Hi Indigo,
If you were in Perth Id be happy to sit down with you and talk through a few ideas but unfortunately we are WA based. There’s so many do’s and dont’s when it comes to trusts, whether they be Hybrid, Family, Fixed Unit, Discretionary or SMSF – the list goes on.
If the trust you are looking to setup is fairly straight forward though and you know what your looking for we sometimes use Cleardocs.com for generic trust deeds and so forth.
Then the ABR (where you do all your TFN, GST, ABN ect)is accessibale and fairly easy to use – again, mainly if you have a firm idea about what you want to establish.
Hope that helps.
Hi Dazzling and those above,
Great idea for a topic!
Im constantly amazed at the various types of work people get into and out of. It seems their most ‘normal’ stories are really very interesting to those who have not ventured into such fields.
From Drilling, to Farming to Deep Freezing its great to hear about – and always gives you something to think about for the next career move.
I myself have only just turned 22 and work for an Investment / Corporate Advice firm in Fremantle WA. Definately not a structured or traditional work place – but its great exposure to the business world.
There’s myself and two Directors and a Senior Accountant. I basically take up the running around, admin, some reasearch, private client liason (but a draw the line at making coffee). I’ve got my Financial Advising Licence, though I dont use it much. In all that it really is an exciting place to work alot of the time.
So far ive had exposure to Property Developments in Busselton, the Capital Raising, Float and running of a listed Rural Investment Company, helping clients with investment decisions, superannuation, IPO’s, personal insurance and so much more. Even though alot of the jobs are not really what I went to uni for the experience is priceless as are the people you meet.
And when all is said and down I get the weekends off to surf, can drive down the coast home and ultimately still enjoy our great state of WA.
Combined with work previously its helped provide the time and savings for me visit the UK, Hawaii, Vegas, Daytona (on Spring Break – an experience I hope I never forget), Sydney, Paris and so much more.
You spend more time at work than anywhere else in your life Id say so at the end of the day you really want to be somewhere you enjoy. If not – there’s always a plane ticket being sold to somewhere!
Hi all, Hi Rickster,
There are numerous ways in which you can invest in Property through a Self Managed Fund, but most of our clients steer clear of purchasing a direct property through their SMSF.
It can be a bad idea because –
a) you lose the power to levergae off the property and lose the equity as SMSF’s investments can’t have any debt attached
b) accounting fees build up considerably
c) it can draw the eye of the ATO and if done incorrectly you can loose up to half your super and face jail time
d) as well as the Sole Purpose Test and Arms Lenght rulings you may also incur the ATO rath due to a lack of fund diversificationOther ways in which our clients get involved in property is through
a) Managed Funds that offer Listed/Direct Property
b) Unlisted/listed Direct Property Trusts
c) Direct Development Funds
d) Property Syndicates (small and large)There are numerous ways in which you can invest in property but my research has lead me to one conclusion – its a great idea, its what most people want to do but most of the time its a no-go
An area where you should definately seek independant advice.
Hope that helps. Feel free to email me if you have any other SMSF questions.
Hey Redwing,
I dont follow?
Hi,
I’m rather new to this but being from WA your posts looked interesting. I work for an investment firm in Fremantle, WA and it’s not just residential rent thats rising – with all the resource activity up north filtering down to the CBD, commercial space is being eaten up faster than it can be offered. And the old rule of supply and demand means commercial leases are on the rise too.
