Hi Welman,

I don't know much about that particular type of trust so in your case it would be best to speak to Chan and Naylor directly.  I know they are one of the leading accounting firms in Australia who specialize in property, however I have no idea as to how their prices compare to other accounting firms.

Good luck

Hi Wealthyjvd,

Firstly, everyone's circumstances may be different, what I put below may not apply to you and it would be best to speak to your accountant.

To get clarity on your situation, what was your intention with the property? Were you intending to develop a property and hold it as an investment property receiving income for a number of…[Read more]

Hi Welman,

Trying to keep this simple, if you have a trust, the only way you can distribute from that trust is if there is a taxable profit in the trust.  If the trust has a loss, the loss is carried forward to a future year to be offset against any taxable income.

If for example your trust has some say dividend (franked) income of $15,000 and a…[Read more]