Generally no exemptions of stamp duty or cgt for transfers between parents and children – other than at death.

Steve, would be good to have an active topics button so we can come in and see all the new posts since last time.

I also received a few updates of someone mentioning me in a post – including myself, but when I looked these were posts from 2013.

Overall appearance of the site looks good I think. Like the colour. The font was a bit small but that is easily taken care of (control + button).

Yes this is very common and works well for those on one of the professional pacakge because there are no additional fees for the credit card or offset (some lenders).

Yes, you could do that and yes it may be the way to go. If interest is deductible on the reno loan then refinancing generally won't change this.

But, will you need to pay LMI?

If you are a resident for tax purposes then no change.

If you are a non resident there are big differences. No tax free threshold and the rates start at 30%+. You would also lose the 50% CGT discount.

There may be some private type lenders who will allow this.

Generally there are 2 problems

1. Second mortgage

2. lender nothing you have no money in the game.

Solution may be to use own funds initially and then borrow from the vendor at or after settlement.

Sounds like you may have recently done a course – be careful. This is good in theory but rarely works out.

Bascially no 'structure' is going to protect your FIL because he would generally be giving a guarantee and allowing his property to be used as security.

There are ways to structure things so there is both asset protection and tax savings. Just bororw the deposit from FIL. No personal guarantees and no cross collateralising. If you go down he would lose the money he had lent you but not more.

Not correct againShelbyduck

If you are bankrupted a creditor may go after the trust assets. And they may be successful to a certain extent depending on the structure of the trust, terms of the deed and how it was used.

If a tenant sues the owner of the house then they will sue the trustee. If this is you your personal assets are totally exposed.

If the property is in your name or under a 'trust' either way you would have insurance and this will probably cover most event.

Funny comments about tax. There is no conflict of interest for a lawyer to advice on tax. Taxation is covered by legislation and regulations – ie laws. Laws are something lawyers advise on, but tax agents can also advise on. However tax is only one small consideration with trusts and tax agents could advise on the non tax aspects:

1 asset protection

2. succession

3 control

4 corporations act

5 fmaily law issues

6 bankruptcy issues

7 terms of the deed

etc

Only a solicitor can set up a trust. An accountant would sell a deed prepared by a solicitor. They can't legally do this in my opinion and in the opinion of the Courts – recent WA case states this is legal advice.

Some accountants charge by the hour, and not all lawyers do. I am a lawyer and a chartered tax advisor and I charge on a fixed fee basis.

Whether you need a new trust or can use the existing will depend on the terms of the trust, where you are buying and how it has all been structured.

A person wants to know if they can borrow against property located in the US. I am not sure what KYC has to do with it- no not a form of lubricant, but Know Your Client (i imagine). So I guess he is saying that the potential mortgagor must go to the US to get a loan because Australia has a KYC policy and therefore Arun presumes the US must also have one.

Arun are you a new broker?

I am going to be rude and straight to the point!.

Arun, you don't know what you are talking about!. You are dangerous.