Are you registered or required to be registered for gst and conducting an enterprise?

Are you registered or required to be registered for get and conducting an enterprise?

Depends on the situation but yes stamp duty can form part of the costbase.

Stamp duty and cgt would be triggered unless done via a will.

I am a Sydney based solicitor – what exactly do you need?

This is something you need specific legal advice on.

A unit trust may be a good structure, but the trustees could also just buy as tenants in common – should always be a company trustee for SMSF I think.

Also consider having the SMSF borrow to acquire the property as once it is purchased it cannot be leveraged or mortgaged in the future.

A trustee can give a guarantee for another trust, if the deed permits. But a lender will nearly always require a personal guarantee from a human person.

Whats your security?
How do you get your money out again?

Are you based in Australia?

You can just look at the law itself. It is pretty clear.
See s110-25 ITAA97
http://www.austlii.edu.au/cgi-bin/viewdoc/au/legis/cth/consol_act/itaa1997240/s110.25.html
Look at the 4th element

no mention of the word “major”

just apportion the original costs between the two lots, and any specific costs for the one property would add to its cost base, as long as not previously claimed.

I have about 300+ strategies developed with many of them on tax strategies on CGT, some relating to this are
– move in, main residence, move out and rent
This should only be done if the savings are enough to justify moving twice.

– move in, main residence, move out and into a new main residence and later sell the first one tax free and pay down…[Read more]

Why not do both?

Using some tax strategies a main residence can be rented out and negative geared without loss of the main residence cgt exemption if certain requirements are met.

You get the best of both worlds of saving tax and avoiding tax as well.

Here is an article I wrote a while back:

The short answer is that you get some CGT relief as the period subject to CGT is apportioned.

Example
Bic Dong purchased a home in 2000 and moved in straight away. It is a small residential block and is his main residence and only property.

On 01 Jan 2004, Bic moves out. He ends up renting a property…[Read more]

try http://www.redwoodadvisory.com.au both accountants and financial planners- in melb tho

1. Deductibility doesn’t depend on the security for the loan – this is largely irrelevant. It is the use of the funds that determines deductibility. If the trust borrows to invest the interest would be claimed by the trust.

2. no.

A SMSF is a trust. The proposed members must set up a trustee and the settle the trust and appoint themselves members of hte trust. Who do you use? The trustee does the work. There are various companies that help in administration of the fund, there are also financial advisors that can advise on the financial aspects, but it is the trustee that…[Read more]

Jaxon, It would be extremely unlikely that such a matter would worry a bank let alone get to court.

I think there will always be personal guarantees with commercial lenders. Never seen the ability to avoid one.

If the lender asks you would need to disclose personal guarantees given so the lender would then assess you on the full debt of the 3 trusts. If they don’t ask about personal guarantees then you would be assessed on your personal debt and the debt for the borrower in quesiton.