That may not be a good idea!

Costs
tax advice
legal advice
conveyancing
discharge mortgage
new loan
CGT and
stamp duty

Dave

Thanks for the comments about the newsletter, I was planning to cover trusts and companies in future editions.

A company is a separate legal person and has its own tax return done each year and pays tax. Any directors would need to give personal guarantees and this counts, from a servicing point of view, as if you took the loan in your own name. So a commpnay would effect you servicing just as buying in your own name would. A company pays a flat 30% tax so if your personal taxable income is such that you would pay more than 30% tax on any income from the company (wages, dividends etc) then you may leave the money in the company and cap the tax at 30%. You can then get it out at a later date when your income is lower.

A trust is not a separate legal person and is not an entity, but a relationship between the trustee and the beneficiaries. A company would buy property in its capacity as trustee. A trust will have its own tax return but generally does not retain any income and won’t be taxed. All income will flow out to the beneficiaries – which might be you and you might pay more tax. Or it may be distributed to a comapny and capped at 30%.

generally a company is not recommended to hold appreciated assets as the CGT will be 30% whereas if you had a trust or your own name it could be a max of 45% x 50% + medicare.

But there are many things to consider when structuring, a major one being land tax.

See my book for some information on trusts. link is in my 3rd newsletter (free download).

Have a look at my first few newsletters, I have covered ownership and other structures.

It depends on his situation. A SMSF could work out cheaper than the fees he is paying, and he gains total control. There are also various other tax benefits available to SMSFs – anti detriment payments. Other benefits are estate planning, control and various tax strategies.

Yes, to be entitled to the full exemption.

One you have established it as the main residence by moving in, you can then be abscent.
The relevant sections are s118-145 ITAA97 and s118-192 and surrounding.

In this person’s case the first period was rented out, so the property will always partially be subject to CGT.

Yes, super is a great structure for someone your dad’s age and that can be a great strategy. income in super is taxed at a max of 15% whereas he may be taxed up to 45% outside. nearing retirement age means the money won’t be locked away too long as it could be accessed from age 55-60ish depending on a few things. once a superfund is paying an income stream any income supporting that is exempt from tax.

But the planner you are using sounds like he may be a cowboy, looking after himself more than the client. First look him up and see if he is properly licenced.

I have written about this topic in my last 3 newsletters. http://www.loan-experts.com.au/article/

First you have to consider whether you should jointly own property together. There are many reasons not to, and some reasons to.

If joint ownership then consider whether equal or unequal shares.

I generally favour TIC as
1. Each party can leave their share via their will, and
2. Bankruptcy of one spouse during or after the death of a joint tenant means the whole house will be lost and not half.

Plan ahead and there are some tax strategies available too.

Does a hair dresser need a builders licence to work as a parking inspector?

I clearly told you on 2 different forums that there will be little asset protection if you don’t get it right and that you need legal advice, from a lawyer.

Yes totally incorrect.

To transfer title any mortgage will need to be discharged. You will need to get your wife to apply for finance.

You need legal advice on this, get it wrong and no asset protection even if it is in her name.