Thanks Michael, I assumed it would be a hard sell to the ATO. Also knew the trust would have no tax benefit for myself. I might need to go back to the drawing board and come up with another plan.

Catalyst, thats true. the reason I am doing this is because my father only has a few years to live so it is more to set my mother up for once he is gone. Also, they will be gifting me $80k to repay non essential debt and also to pay the majority of the upfront costs. so by me paying the difference between the "rent" and the repayments that is me actually catching up on my share of the loan.. if that makes sense.