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Hear hear, very eloquently put . My sentiments exactly.thanks

G'day Zimby, Your post resonated with me because at your age that was something I was trying to achieve but there weren't the SMSF readily available as they are today. I did however reach my goal to retire early, but not without a few mistakes along the way.so for what it's worth here's my...

I did indeed Mr W, but only after changing accountants. It was simply a matter of going to a competent accountant who knew of these matters. Unlike the previous accountant who was unable to help , this one supplied me with the relevant paperwork that I needed and for which I could just go and...

Interesting comments about how good some of these accountants are, my past experience was how could someone not see that I was entitled to a $5k refund ( pointed the error out before I signed the papers and sure enough had I not done so, but relied on his reputation as being thorough , I would...

Thanks for those comments Terry. Also like your precis on your other post re property ownerships Transferring will result in CGT and Stamp duty. You also have to consider other aspects such as if you gift there will be no deductibility of interest on any loan on the gifted portion. If...

Whether it is a good idea or not is another question. well I thought it;d be a good idea for the reasons mentioned and as an after thought , in the right circumstances you could make a taxable contribution into super and trade off the equivalent CGT that would be triggered by some of the...

Gday Alexee, Unit trust allows me the option to have my other children involved at a later date if they were interested. I thought I could gift it ie not receive money but of course be liable for CGT The Unit trust is empty ( had been set up by me for an IP that has been sold and so it...

Does anyone know if it would be relatively easy (or possible) for me to form a tenant in common relationship between myself and a unit trust (in which I hold an interest) with regards to an IP already owned by me and held in my name? My thoughts are that I could sell off some of my ownership...

Yes understood, but the point of my question is in the 3rd paragraph below ie whether you could lend funds to purchase shares via LRCB (ie In a similar manner as had the bank when the super fund wished to for purchase property)? If you could, it would appear to be a great way to build up your...

Unless you are talking a very short timeframe, surely if the property has already been income producing, you would have declared this fact via declaring this income in your personal tax returns ; so you would have already alerted the ATO to the particulars of that property? If you were...

So in a previous post about a company being used as a custodian trust for the purpose of limited recourse borrowing, it was ascertained that upon the loan being paid the cert of title needs to be transferred from the company to the super fund. The logic would be then to deregister the company as...

... well some hope for future customers - refer the bank's response received today; "I have been advised that once the loan has been repaid it is up to the customer to transfer the Title from the security custodian to the SMSF itself. This can be completed by a conveyancer or direct via the...

Yes Perth Guy, exactly, very easy to believe it would be a 'done deal' when the loan is paid out but nothing is ever simple as it appears...

My original situation involved having the accountant changing the bank he used for dealing with LRCB after I had signed the contract, such that I was obliged to go down this more expensive path as I was relying on his superior knowledge in how these loans worked and the "water tightness" of the...

Yes well I guess if it's not going to be the drama I thought it was, it would have been a good customer relation exercise for the bank (given they are the first one to know that the loan has been extinguished) to include in the "congratulations you've paid off your loan note" a paragraph about...

Thanks for that, but really how many of us who have been setup into these had been told that is what would occur at the end? The lawyers on here would no doubt say caveat emptor and you should have undertaken your due diligence, but really when you are seeking professional advice in the first...

We'll I appreciate the heads up on that, cos I was ready to have a go at the bank ... ( still , you'd think that sort of info would have been been known by my accountant given he deals with setting up these structures !)

Thanks very much for that Terry. It would seem that I need to go back to the bank that lent me the money as it would have been the bank that required the company in the first place? Surely that should have been done by them at the time of closing out the loan / issuing the cert of title ?

Anyone know what happens when the instalment loan for a super owned IP has been paid off? The use of a company was necessary because of the set up of the recourse loan, but given the loan is paid off, the function of having a company is now redundant. I don't see the point of having to pay...

Thanks for all you suggestions. I dont think there would be room to move the meter box to in front of the carport roller door, (and I thought moving the carport would have been at his expense) which is why I was suggesting that the carport go back further. However may be it would need to...