Most accountants think they can advise on trusts and asset protection etc.
But when you think about it they don’t have the knowledge or authority. The tax agents act only permits them to give legal advice on commonwealth tax.
Asset protection advice involves knowledge of the bankruptcy act, conveyancing acts, family law act, equity, trusts,…[Read more]

Structure and asset protection can only be advised on my lawyers as it involves legal advice.
Do a search for ‘brett davies lawyer’ he also knows tax.

If the purchaser of the land incurs GST on the purchase and they are registered for GST then it may be possible to claim the gst back. But if the intention is to build residential property to rent out long term then you might not. if you claim the GST back and then sell within 5 years then you might have to make a GST adjustment and pay some…[Read more]

Gee, this is probably out of the conveyancers depth. Why didn’t you use a lawyer? Did you discuss the CGT and stamp duty, and GST aspects of transferring title?

If it is a valid partitioning of the land then you will each beneficially own the separate portions of the block and therefore family B should be paying for the fencing on their ‘lot’.

No, because it is not on their part of the land.

Was the land partitioned at purchase or has it been?

No one is correct because there is no correct answer. It is up to negotiation until subdivision occurs and then it is that owner’s responsibility – with the neighbours as fencing is generally shared.

But if I was family A I wouldn’t want to pay to fix a fence that I won’t get to be owner of.

Hope you got advice about stamp duty too btw.

Sorry to have offended you oz guy.

Can I ask why you were wanting someone to ‘pay cash component for the nomination’?

You mean you are trying to commit a crime – money laundering and duty evasion and are complaining that strangers won’t help?

Hi Danny

Sounds like you are an agent contracting with the vendors to me.

Lets leave the debate there.

So you act for the vendor?

You are missing my point it seems. You said you act for the purchaser, so you would have a contract with them. If nothing in writing then it would be an oral contract. This is a potential conflict of interest as you are representing 2 clients on the opposite ends of the same transaction.

What happens for instance if there are negotiations done -…[Read more]

But you are contracting with both parties.

I will leave it with you..

But the vendor pays?

You might want to get some legal advice on that.

Then who is your client the vendor or the purchaser?

How do you make money in that case Danny?

Just see a broker. Choose a lender and then make the application.
Get some tax advice along the way to see if you can implement any strategies to debt recycle to speed things up.

First probably find out if you have a choice. See a broker and see if you have any borrowing capacity while you have the debt in place and then compare to as if you had no debt.

Then consider what you should do. I would probably advise to pay off the debt first, but I don’t know much about your situation,

Yes it would. If the contract doesn’t conform it may be unenforceable.

Victoria?

Have a read of the relevant section. Off the top of my head i think it could be a condition.