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Tkpurser

  • Tkpurser replied to the topic how to borrow more / unlimted finance in the forum Finance 9 years, 5 months ago

    Thanks Terryw, that’s a useful example.
    So would I be correct in thinking that this following scenario could work?:

    Tom is the director of Tommo Pty Ltd which is the trustee of Tommo Trust.
    Tommo Pty Ltd owns a property as trustee of the trust and the property is worth $200,000 at purchase with a loan of $160,000. The property has not changed in…[Read more]

  • Tkpurser replied to the topic how to borrow more / unlimted finance in the forum Finance 9 years, 5 months ago

    Thanks for your reply Terryw. Do you have an idea/example then of what Steve is talking about? Do you have an idea/example of how restructuring a trust would then increase the borrowing capacity?

  • Tkpurser replied to the topic how to borrow more / unlimted finance in the forum Finance 9 years, 5 months ago

    So in Steve’s book (0-130 properties, revised edition) starting at page 172 he talks about how once he reaches his borrowing capacity he then re-structures his family trust and then approaches another lendor.
    I read in another post that this is no longer possible?
    Would another bank loan money if say the original trustee (e.g Trustee Company Pty…[Read more]

  • Tkpurser replied to the topic Land Tax in Victoria in the forum Help Needed! 9 years, 5 months ago

    Thanks TerryW.
    Just realised that it’s actually 0.375%. I read it as 3.75% so that’s a lot better than I initially thought!

  • Tkpurser replied to the topic Land Tax in Victoria in the forum Help Needed! 9 years, 5 months ago

    If the vic threshold for land tax bought by a trust is $25,000 then that is a huge amount of tax payable for ~4% over this value.
    If the trustee is a company then are the company directors subjected to this tax? Is there any way around this tax if buying via a trust?

Tkpurser

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