I'm thinking of getting another investment property. With my first investment, was bought under my name. I did a bit of researched and a lot suggested that I should have my next investment property under the trust. I am so confusing with all the latest changes to trust.
I attended a seminar late this month and will discuss further with Accountant this Thursday as to what best suit me. I just can't seem to find the right question to ask. Any suggestion, what I should ask the Accountant?
Tina
Ask if he thinks you should use a trust, and if so which type of trust.
Then ask for his reasons why you should or shouldn't use one.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terryw wrote:Ask if he thinks you should use a trust, and if so which type of trust.Then ask for his reasons why you should or shouldn't use one.
couldn’t agree more… but just to add to that, before you go ahead and decide to create a trust and purchase an IP with it, talk to your accountant about the ramifications of the trust for negative gearing.
Terryw wrote:Ask if he thinks you should use a trust, and if so which type of trust.Then ask for his reasons why you should or shouldn't use one.
Thanks for the suggestions Terry.
I've seen an Accountant from C & N, he suggested that I should use a trust (Hybrid trust) for asset protection purposes.
I've spoke to my Accountant who is not specialize in property but he own a couple of investment properties himself. He didn't think it's a good idea to use trust.
I'm going to see this Accountant this week who is specializing in property as well. Then I will gather all the info I got and see what is best for me.
I like the ideas of asset protection and no stamp duty if I pass the property on to my children. I'm not quite sure about the 30% company tax.
Anyway, thanks again Terry.
Tina
Mr5o1 wrote:Terryw wrote:Ask if he thinks you should use a trust, and if so which type of trust.Then ask for his reasons why you should or shouldn't use one.
couldn't agree more… but just to add to that, before you go ahead and decide to create a trust and purchase an IP with it, talk to your accountant about the ramifications of the trust for negative gearing.
Yes, thanks for the idea. I will definitely check it out with this accountant regarding the negative gearing. I can't seem to quite work it out which one benefits me more or should go for (trust or buy under my own name). I do not believe you can have negative gearing if to set up a trust.
Touche wrote:Thanks for the suggestions Terry.
I've seen an Accountant from C & N, he suggested that I should use a trust (Hybrid trust) for asset protection purposes.
Hi Tina
Did they describe how a hybrid trust would provide asset protection? And what about the ability of getting finance for one? What about the recent tax rulings concerning hybrid trusts?
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
You must be logged in to reply to this topic. If you don't have an account, you can register here.
