HDT – time and cost

Setup time;
5 min on the net to 1 week or so with an accountant.

Cost
Accountants generally charge around $1200+ for the trust deed. I don’t know of any solicitors selling trusts, especially HDT with the tax knowledge required.

Other
Bit of advice is usually included in the accountant’s fee, as is ABN, TFN applications etc. add $200 for stamp duty in most states and another $800 or so if you want a company as trustee.

ONGOING
-Same as if you owned the property in your personal name

Cost
– Tax returns need to be prepared for the trust and company trustee (nil return) if you have one. Some accountants charge around $1200 for this too, others charge a fee depending on how much the trust holds, eg, a set fee per property. In this case you would be paying accounting fees anyway if you held the properties individually.

No need for a solicitor, unless you need legal advice.

May also need a few hundred extra for ASIC fees if you have a company. $400pa I think.

Terryw
Discover Home Loans
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