Recent content by anson_he

I am 100% sure the trust I use is a Discretionary Family Trust. The trust deed allows me as the appointer to change the trustee of the trust. I have put "ABC AS TRUSTEE FOR SMITH's FAMILY TRUST" onto the purchase contract for the site. I have negotiated 6 months delay settlement for me to...

The development is a 5 units development in Brisbane. Most of the residential lenders only allow 4 units under one title so I have to seek a commercial loan for it. I have used a family trust with myself as the trustee to purchase the property so the owner of the property is ABC AS TRUSTEE...

Commercial lenders don't like to lend if the development site is under a personal name due to customer protection code. If I use a family trust with a trustee of myself instead of a company to apply for a commercial development loan, will it be OK? Or the trustee has to be a company?

Hi Aaron, If I am the trustee of the trust and guarantor of the company, should only myself become the borrower/guarantor? In the loan application form, who will be the borrower in this case if I am the guarantor?

Would like any experienced broker to shed some light on the finance option. Looking to purchase a development site with a Deed of Partition. Basically use a family trust and a LTD company to settle the property under Tenants in common so the name of the trust and company will be put onto the...

Hi Terry, I would like to get the structure setup correctly before I go into the contract. Could you please PM the fee you will charge for face to face advices and setup of the deed? Where is your office located?

Thanks guys. That is exactly like what I was told by a solicitor I know. He recommends me to setup two entities, one is the investing entity that holds and one is the developing entity that sells. If I decide to sett up 2 trusts which could buy as tenants in common in proportion to the sale...

Hi guys, I am looking at a muilti-unit development site and going to use a family trust to settle it and this will be my second development project. The family trust has a PTY as the trustee and beneficiary. The reason to use trust is I need to get a commercial loan and trust can distribute...

Hi William, Could you please share some information about your subdivision? What kind of zoning is your property? Is it a corner block? Did you get approval based on the current plan or the new Brisbane city plan? What is the minimum lot size for your application?

Hi RPI, Does minimum lot size also apply to building attached/detached duplexes in low density residential areas? Could you please shed some light on the code for attached/detached duplex development in BBC draft plan? Thanks in advance.

Hi RPI, It is good to hear now it will only take 20 days to get a subdivision approved in another post. However, the minimum lot size for low density zone seems to be too tough as 300m2 lots in low density residential areas are going to be limited to those within 200m of land in the Centre...

I got a six units development project and 4 units will be built on one block and the other 2 units on the block next to it. They share a drive way in the middle. Those two blocks are under separate titles and I will strata title those 6 units after they are built. I know some banks do allow...

I have my gladstone water front apartment valued a year ago. First val came back as $500K and I challenged it and second full val came back as $560K a week later, which was still below the market value of $600K at that time. When I had it valued again last week, it came back as $500K again...

Hi Rockstart, I have to come back to you again regarding the 50% CG discount on the property you sell one year after it's built. Do you claim GST input credits on all the costs involved and do a GST adjustment annually? You have been doing development for some time, is your development...

Thanks for your clarifications, coastymike. I did indeed intent to keep those units for long term which my accountant was aware of. My financial statements will show how my accountant has treated the items. Could you please be a bit more specific about the financial statements? Are you...