Hi guys - I just found this - might be useful to you.
http://ntaacorporate.com.au/products/faqs/5
Go to the Question:
"If an appointor in a discretionary trust gets sued, is the trust in danger?"
I guess the moral of the story is to have at least 2 appointors (Yourself and someone...
To Mark Laszczuk:
I actually have spent the past 2 weeks Googling and looking for exactly what you're suggesting. That's how I found this forum.
I know a lot more about Trust now than I ever did. However, I still have questions which I haven't got clarified, and I thought why not post...
A friend of mine got sued recently for his business activities, and ended up spending $30,000 in legal fees to defend himself. He could have won without a lawyer but he didn't want to put his property at risk (as it's in his name).
So from his experience, I'm now obsessed with Asset...
Thanks guys, you've all been extremely helpful.
I'm very grateful for your speedy replies.
Woohoo! My property qualifies for PPR - I also did some digging, and found this ATO site - may be helpful to others here...
Hi All,
Another question. Suppose I want to "sell" my property to my Family Trust.
Per SRO Vic requirements, I have to pay stamp duty on the sale price or market value (whichever is greater). In this case, I would need to use the Market Value.
But how is the Market Value of my property...
Hi all. I read a few threads here that talk about the 6 year rule - I actually never heard about it until today!
I'm wondering whether if my IP qualifies as a PPR:
2006 - Bought the property as first home buyer. Immediately lived in it for 1 year continuously.
2007 - Rented it out (I...
Hi guys,
I am interested in setting up a Discretionary Trust (Family Trust) to hold my investment property. This property is currently in my name, but I would like to transfer it to my Trust (so that the trust owns it instead).
What would be the stamp duty (or other transfer costs) I...