@scott no mates – yes the stamp duty seems to apply when its transfered to another person/entity, however what Terry mentioned in the lights of the title of our property where the trustee (me) lodge a caveat on the title of the property that is in my name, in agreeance, mortaging the equity to my trust which will incur no stamp duty!

Hi Terry, wondering if i was to purchase a property in my name then setup a trust afterwards, can my trust have a caveat over the property? Abit like transfering it from my name to my trust!

Thanks Justin, great reference and website, love it!!!

I’m in the process of becoming a developer in 3 years time, just gotta build my equity in my first property, 2nd and 3rd by 2019.

Question, are project managers for developments, is this tax claimable? Reason is I’m thinking of contracting a project manager to look-after the development on my behalf.

Zen

Hi All

Are these accountant fees tax claimable?

Zen

thanks Terry, thinking of enquiring at http://www.legalvision.com.au try see how I go.

Also I saw these sites, not sure if this applies to me? https://www.ecompanies.com.au/discretionary-trust/

cost $121 to set up a family trust!!!

Hi All

Along this subject heading, I am also single and intend to set up a trust. I have a 20 year son and 12 year daughter, son is independent and daughter lives with her mother.

I am a firstime investor and in the process of settling with my first property investment in August 2016, the loan will be in my own name which I would prefer be in a trust structure. The reason I am purchasing my first IP in my own name is because one accountant told me that in my situation (guessing income level) the trust structure is not possible!!!

Purpose of this “structure” is for asset protection and minimise tax. Love Steve’s book ‘from 0 to 130 Properties in 3.5 years’ – on page 161 he talks about these optional structures.

As mentioned my intention is to create a family and unit trusts and have me and my kids as beneficiaries. My question is taking into consideration of all the annual costs associated in administering these trusts (corporate trustees etc….) – can a single person with an income of $68,000 (before tax) create a trust structure? Do I need to seek a property/tax accountant to answer this, if so, do you guys have any recommendations on who I can contact to assist me in setting up these trust structures based on my income level and situation with my kids?

Thanking you all in advance

Zen

• This reply was modified 8 years, 7 months ago by  zen.