Living overseas

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John
Participant
@johnbaker
Join Date: 2016
Post Count: 1
August 1, 2016 - 3:12 pm
Hi. I see plenty of forums where it is about investing overseas.
But what if you are an Australian and living overseas and want to invest back in Australia.
What trust should be set up?
Would you buy site unseen?
What is the tax implications if you buy through a trust?
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
August 1, 2016 - 4:22 pm
You need specific legal advice on this.
You are a probably a non-resident for tax purposes. A company must have at least 1 resident director.
A foreign controlled trust may be taxed differently too.
And some states will impose more land tax.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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DeanCollins
Participant
@deancollins
Join Date: 2015
Post Count: 376
August 2, 2016 - 7:51 am
why would you need a trust? if you are an Australian citizen you can buy property in your own name.
…and yes I’ve purchased property sight unseen (well photos and video walkthrough but never visited in person).
Colin Rice
Participant
@fms
Join Date: 2011
Post Count: 338
August 2, 2016 - 5:12 pm
DeanCollins wrote:
why would you need a trust? if you are an Australian citizen you can buy property in your own name.
Depends on the property, is it negatively, neutral or positively geared? Bought in an individual name (trustee) or multiple purchasers. Selling or holding?
- This reply was modified 8 years, 3 months ago by Colin Rice.
Colin Rice | CDR Finance
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Perth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]