RHPlanning replied to the topic About to buy my first property – advice on trusts in the forum Legal & Accounting 14 years, 9 months ago
Thanks Terryw for the information.
Cheers
Ryan
RHPlanning replied to the topic What is your structure??? in the forum Legal & Accounting 14 years, 9 months ago
BrisbaneAndy wrote:
Going with this setup it's unlikely I will own anything again in my own name except for future primary residences.
When purchasing a property do you use a new trust each time? And do you create a trust prior to making an offer or once an offer has been accepted? In that case, what name do you specify on the contract?
RHPlanning replied to the topic beneficiaries of discretionary trust in the forum Legal & Accounting 14 years, 9 months ago
How is a company safer as a trustee? And why do you say only 1 director?
RHPlanning replied to the topic About to buy my first property – advice on trusts in the forum Legal & Accounting 14 years, 9 months ago
Terryw wrote:
Its still possible to claim the interest personally by using a unit trust – but this offers no asset protection and is inflexible.I would also suggest a discretionary trust is probably the way to go.There are also land tax implications to consider. eg. In NSW there is no tax free threshold for land owned in a discretionary…[Read more]
RHPlanning replied to the topic Adding bedrooms? in the forum Value Adding 14 years, 9 months ago
Are you building yourself or employing somebody to do the job? If employing somebody, they can take care of Council affairs for you.
Generally speaking I believe it’s better to just seek approval from the local government as they will certify the safety of what is being constructed. If you are renting or selling the house at least you can say its…[Read more]
RHPlanning replied to the topic 10987654321 Garrett Goes off With Axe in the forum Value Adding 14 years, 9 months ago
hahah @ cartoon, but I agree with sapphire101, it appears its just the usual reactive defensive government response, when will we ever see some decent leadership that stands behind what it believes in…
RHPlanning replied to the topic Can anything be done with a 10m wide block other than building a single dwelling? Likely R40 to R60 zoning in the forum Value Adding 14 years, 9 months ago
You have to look at the options. R60 = 180sqm average lot size, so you could potentially develop three dwellings, however there are design limitations (such as the frontage width as you mentioned) and it would probably result in a multiple dwelling scenario to achieve this… you may make money on this or you may not depending on the building…[Read more]
RHPlanning replied to the topic Sub-Dividing in WA in the forum Value Adding 14 years, 9 months ago
Subdivision is a straight forward process that relies on what your property is zoned and the requirements of the local government and state government whether or not you can subdivide.
Generally you should allow around 12 months from application to titles for a straight forward subdivision. Costs vary depending on the site, there are costs that…[Read more]