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?