Also, If your employer agrees, you could salary sacrifice the expenses relating to the property, essentially giving you the deduction for the expenses while leaving the income in your wives name. The payment of the expenses would be an exempt fringe benefit using the otherwise deductible rule.

Hi Steve,You mention you want to protect the assets from litigation and divorce etc.If you have a fixed trust where you a with yourself as a fixed capital beneficiary, you have a real asset, and it would be at risk in litigation or divorce.If you have a fixed trust with a family trust as a beneficiary the land tax would be assessed to the family…[Read more]

Your cost base would be the market value of the land prior to the subdivision plus costs incurred in the subdivision and of course the construstion of the units, not the purchase value of the property.You should seek advice based on you situation if the sale of the first unit would constitute a capital gain or assessable income. You may also be…[Read more]

You can lodge a complaint with their professional body (ICAA, CP,  NIA). You should be able to find the contact details on the website of the relevant body.There is also now a new national Tax Practitioners Board, which manages the registration of tax agents. Tax agents are now bound by a new code of conduct. They have a form on their website to…[Read more]

Pesa,Click on my name and view public profile.You can send an email from there.David

Hi Pesa,You cant really access the equity in a property the fund already owns without taking the propert out of the superannuation environment. Super funds can borrow in limited circumstances, however it has to be to acquire an asset, it cant borrow against an asset already owned by the fund.If that is your intention, there are some strategies you…[Read more]

Hi Pesa,You are correct that you could not live in the property if it was owned by the super fund. However the income would be tax free if you were drawing a pension. The property could be later transferred out of the fund if you wanted to live in it, but you have to consider the stamp duty on this transfer.In making the decision you need to…[Read more]

As long as the rent is paid on an arms length basis there shouldn't be any problems.Make sure you consider the liquidity of the fund if it is 100% invested in property.David

Hi Yasmina,

I know someone who gave it a go for a couple of months and didn’t get any income from it at all. Their loans were not very competitive which made them very difficult to sell. They also had a telemarketing department that set up his appointments, however he would regularly turn up to appointments with people who had received phone…[Read more]

From what I’ve heard you can get some good prices with very good rents in the Moree area. Its an area that I’m seriously considering.

Could be worth a go.

Dave.

Hi Guys,

Rellie is right, the way it can be done is to setup a unit trust, and both the superfund and yourself buy units in the trust and the trust then buys the property.

The only problem is that the property must be unencumbered for the superfund to remain complying. ie you cant borrow against the property to fund your part.the only way it can…[Read more]