Why and when to use different structures?

Viewing 6 posts - 1 through 6 (of 6 total)

B.Deros
Participant
@b.deros
Join Date: 2003
Post Count: 34
October 18, 2003 - 2:50 am
Hi All,
I now have 3 IP’s and am currently looking for more opportunities. Is now the time to be looking at different investment structures? Currently they are all in my name as an individual.
What factors should I consider when deciding to use another structure?
thanks,
Ben
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
October 18, 2003 - 3:23 am
It is always the best time to look at strucutres for both asset protection and tax reduction. Things to consider are:
extra costs- accounting, land tax, legal, set up etc
= Who are you going to distribute the profits to? Do you have family members on low incomes? or if just
= yourself you can still distribute teh income to a company and pay a max 30% tax.
= How far are you going to go? ie how many more properties? shares, and/or businesses?
I suggest you buy the book called “Trust Magic”, avaialble in the API magazine. Read that first and then talk to a good accountant.
Terryw
Discover Home Loans
North Sydney
[email protected]
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
molkenr
Member
@molkenr
Join Date: 2003
Post Count: 15
October 18, 2003 - 4:39 am
Terryw
And I posted a question some days ago…and still no answers…how do you find a good accountant (In WA)?
Cheers
[8D]
B.Deros
Participant
@b.deros
Join Date: 2003
Post Count: 34
October 18, 2003 - 4:48 am
Thanks Terry,
I have the latest magazine, I’ll check it out.
regards,
Ben
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
October 18, 2003 - 6:38 am
Molkenr
Don’t bother even looking. Just go for Dale Gatherum Goss himself. He is located in Victoria (which could result in tax deductable trips!). And you can do everything via mail/fax/phone. I think his web site is http://www.gatherumgoss.com .
BTW Dale is author of that book, Trust Magic_
Terryw
Discover Home Loans
North Sydney
[email protected]
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
The DIY Dog Wash
Member
@the-diy-dog-wash
Join Date: 2003
Post Count: 696
October 18, 2003 - 11:44 am
Ben
Dale GG is my accountant and he was referred to me by AD and he is in Qld. Dale is great and so is Sharon who works with Dale to help setup the trusts and stuff!!
Cheers
Leigh K[]
Carve your own path and lead the way …