Hi NK

If your new accountant says there is not much difference between buying in a company and buying in a trust, I strongly suggest you change accountants.  No 50% capital gains tax exemption for a start.

If your accountant is talking about the difference between your own name and a trust that is not so bad.  

I am a huge advocate of buying in trusts for both legal and accounting reasons, others have different opinions.

If the property is in your own name and you want to transfer it to your child, you are effectively selling it to your child and duties etc will be calculated at market price.

A trust already has them as a beneficiary and provides a multitude of options.

Hi Chris

I have loads of clients that do really well with JV's

If your agreement covers all eventualities it keeps relationships easier.  We do extensive shareholder agreements even for simple company operations with different shareholders, if the agreement details how to deal with things, it doesn't progress to arguments because it is there in black and white.

Good luck

Hi kara

If you bill in your own name, a service trust which employs the reception staff, supplies the equipment etc and bills you the same as the other professionals may assist in asset protection and tax planning.

Yes is a lot out there and I personally think it is taking competition law too far.  A lot of people do seek authorisations though.

If clients of mine (in the planning practice) decide not to go through with an expensive but oh so worth it planning issue with their PPOR, I will break my triple record easily.

I am pushing them hard to do the planning its going to cost them $30-$50k in my fees alone, however, their block will be literally worth 10 times as much.

I have also given the option of me paying $200k cash over market for the block as is.  Their residence is on a very large piece of land that can't be touched, fix the planning issue and it could be split into 300m2 resi lots, town house lots, a convenience centre site, and a service station site to boot. The planning issue is 100% fixable.

I would prefer for them to pay me to fix it and then do the subdivisions into large lots for different purpose in the middle, and sell off those sites on the periphery where there are no new roads to be built for the servo etc.  I would obviously make several million if they don't do that and I buy the lot.  But they will also be 2 of my biggest advocates if I make them millions, I get paid well for my job and we all go away happy.  I get great deals come across my desk all the time, this one is good enough that when they were having doubts I did offer to sign an unconditional contract for $200k more than their best REA appraisal on the spot.  I think they may have worked out somehow that I am very confident about being able to fix the problem.

These sites are out there, they are rarely as good or as safe as the example above.  But saying that, I have people making $60k in 3 months on 1 into 2 reconfigs in Holland Park at the moment.  Another 1 goes on the market 7am Monday.  I will report back if it sells as fast as the last one.

regards

D

If a contract is terminated in this way,  it is treated as never having existed, they have to give you your deposit back.

Hi 

Yes it can definitely work.  

It can also get very messy if it goes wrong.

Be picky in who you partner with.

Make sure your JV agreement is tight and right

I would also suggest that your entity that owns the land is not a joint venture to the part.  Setup another entity that owns nothing, other than a legal right to build on the land (proper structure is vital)  That entity JV's with the builder is something goes bad you have separated the ownership of the land from the JV.