Recent content by SMSFAccountants

I would continue to use the existing trust as it seems like there is a lot in it and it would be hard work to change over to a new trust. Changing appointor is normally easy but we get a lawyer to do it for our clients. While you're there you can get them to check the deed is up to date etc...

The problem with these decisions is always the lack of a perfect crystal ball to see the future! We normally recommend joint names because of the CGT issue mentioned already, clients hate CGT! You should talk to your Accountant and make sure you understand the tax consequences of your...

I am not sure about all of Australia, i mainly pay attention to Vic but there is no doubt there will be some downward pressure from higher interest rates. The question is will it be enough to offset the continued lack of stock in Vic? I think there will be some stress in the mortgage belt as...

Weribee will always have the sewerage plant stigma IMO, the thousands of new homes going in in the area don't help either.

It's poor form from the PM but has happened to me plenty of times. The PM should have explained who the tenants were, what references etc, you need to trust your PM and finding a good one can be hard.

I know a few who do this sort of thing and they generally network very heavily to find JV partners

Would be interested in seeing the "recent" ruling you guys are talking about, last development i saw was a court case back in Jan/Feb and it made it clear capitalizing interest was legal again. If anyone knows of a more recent court decision i would like to see it. Tough area that the ATO do...

I don't like the ACT at all, crappy place and too exposed to the size of the public service

I like Pine St as they are big blocks that back onto the golf course. Very long term you could build double story & get great views. I think really there are better suburbs than Franksont North, I've had a couple of properties in there over the last 10 years (got into the whole land is better...

One of my collegues says $2mil in clear equity before going commercial. I think it depends on your circumstances & objectives for example a small commercial deal can be good for those closer to retirement if carefully researched where the focus is on rental yield and low maintanance. If you...

In general trusts should only be used where the portfolio in question is either large or will be large as there is a reasnoble cost to set up and maintain a trust of any sort. Apart from that i agree with the comments above. The phrase property trust is generally used in two circumstances...

As others are saying Unit trusts and hybrid trusts are tidier for this and we only use normal family trusts for property where the overal trust will be neutrally or positively geared. There appears to be nothing wrong with what your accountant is suggesting but in my experience you will come...

We used Damien Wooster from Brad Cann in Chelsea to sell our Frankston IP, rapt with the result and speed. I have used heaps of agents in Chelsea and Frankston Damien & Brad are the only ones I would deal with by choice!

I don't understand where people get the idea that a family trust is the right structure for buying property?

I agree with coasty mike, this doesn't sound like great advice. For one thing you are going to have to have enough security for the bank in your own name without using the new property. Discretionary trusts really are not the best structure for negatively geared investments unless there are...