Sounds good Richard

If Richard’s system is not for you then you could possibly get your mum to repay you what you have lent her (will only work if she was paying extra off the loan). Get the loan done and then you could gift or lend back to mum. Another option is for a family pledge type loan.

What state?

Seek legal advice as generally stamp duty payable again as it could be considered a subsale. In VIC perhaps not.

1. Not to you. It could be deductible to the trust if you are on lending. If you are just paying the trust’s loan it won’t be deductible at all.

2. No. You dont own the property so cannot claim depreciation. The trust could claim depreciation.
If you are living overseas who is the trustee of the trust? If a company is there a resident director? If no company and you are trustee you may have a foreign trust for tax purposes. Better get some advice on this as foreign trusts are taxed differently and you could be breaching the corporations act

3.Think carefully about structuring the ownership and structuring the loans, well before entering a contract.

In Vict it is possible. s44 Duties act from memory. Not in other states.

Yes, possible.

Change of owner means new loan applications.

Jonesey wrote:

That is one way to do it, but it may or may not be a good idea – you need some legal advice.

That is one way to do it, but it may or may not be a good idea – you need some legal advice.

If the development fails you will both go down with the company.

If the purchaser has not taken a caveat then you may be able to get finance using both properties as security – depends on what you have agreed to. If servicing is an issue then you may be able to use bridging finance as well.

aussieguy2000 wrote:

Are there any “portable” homes in the area people want to dispose of (ie give away – most give them away but you have to pay for transport), depending on your CGT liability, if someone was to dump an old house on the land, check what services you have to have connected (living without grid connected electricity isnt illegal is it?), move into it and sell the block… you may get lucky and find someone who will take it with the house, otherwise you may have to pay to have it dismantled and disposed of… if you CGT liability is 50k it wouldnt be worth it as that stuff isnt exacly cheap even for one of those houses, if it was 500k this strategy would save you the cost of a house (literally!)… obviously you would have to do enough to “prove” to the ATO that you actually lived in it if they came snooping… just an idea though.

But this would not backdate the exemption to the date of purchase, but from now onwards. Would also need an occupation certificate to be considered a residence – probably.

Look for Vendorfinancelawyer.com.au or google Tony Cordato

What if someone slipped and injured themselves? The vendors would be exposing themselves necessarily.