Yes, this would seriously need to be considered. But if the dad has a mortgage he would get the loaned amount back. Any capital growth could end up in the hands of someone else, but the daughter’s will could mean it comes back to the dad too.

It is always best to plan ahead as circumstances change. Owners die and heirs sell too

Sorry to hear about the parents.

Will you be paying cash for the property? If you buy it like this have you considered the CGT consequences?

hi Rob

Your daughter could get the main residence CGT exemption and/or th e 50% CGT reduction which you cannot, assuming she is a tax resident which she probably would be if studying here. You lend the money so you can take a mortgage over hte property and retain some control in case she wants to sell the property or goes through a divorce. If…[Read more]

Since one of the owners will be living in the house it may be calculated at main residence rates – but I have not looked up the legislation to confirm.

Are you sure it is a good idea to structure the purchase like this?

Get some legal and tax advise as well. No main residence exemption and no 50% CGT discount. How are you going to fund it? Perhaps you could lend money to your daughter who could buy it.

What course?

Depends on the circumstances. You should seek specific tax advice on this complication area. You may or may not be entitled or required to register for GST and CGT may or may not be applicable.

I just read this article on off the plan and it is by Ivan from the forum:
TIPS AND TRAPS OF OFF THE PLAN APARTMENTS FOR SMSF’S
https://www.linkedin.com/pulse/tips-traps-off-plan-apartments-smsfs-ivan-filipovic?trk=eml-b2_content_ecosystem_digest-network_publishes-25-null&midToken=AQGf54pfDNSddQ&fromEmail=fromEmail&ut=2Jr4FaSvugG781

Its on l…[Read more]

Yes it is grey. If they investigate they will look at the circumstances of why you keep buying and selling. If you are a registered builder that won’t help, if you are doing renovations and adding value then that will go against you too.

you have already asked this question, see https://www.propertyinvesting.com/topic/5022282-principal-place-of-residence/

There is no limit, but if you are doing this with the intention of making money then it can be taxable regardless of if it your main residence or not.

Hope you don’t believe this crap?

There was a case a few years ago in which someone with 12 properties was considered not to be in the business of property rentals.

Why do you want to be considered to be running it as a business?

Some have argued this is unconstitutional as you cannot contract where the terms of the contract are not fixed and one party can jack up rates.

I know of no book that covers asset protection for australia. I have half written one but i keep getting g side tracked so may never finish.

You should read the bankruptcy act and just dona search on posts that i have written here and at other property forums.

First step would be to issue a letter of demand.

Costs can be awarded against the unit owner but the full costs may not be recovered.

Pia software is good for forecasting. Property investment analysis.

Which property do you expect to make you the most money?

Ultimately it seems bankruptcy is what you want to protect against and the best protection for this is an appropriately structured discretionary trust that has an open class of beneficiaries and gives the trustee the power to accumulate. Seek legal advice.

But assets of a trust cannot be willed. Ie cannot be left in your will.

For family law…[Read more]