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I have spent the last few hours getting up to speed again on HDTs and from what I have read there have been a few changes in the last 2 years. I guess they are not really changes if the trust deed was done right in the first place. As far as I am concerned I have no problems with the HDT...

Hello, Been a long time since I last posted here. Been busy working trying to get my business off the ground. I have spent the last few hours catching up with all the latest info on HDTs and SMSFs etc... and need to clarify a few things. One is... is it possible for a SMSF that has $50K...

Hello, Was wondering whether anyone knows of a good real estate agent in Gladstone. I am not sure whether to sell or rent. I will probably be going up there next week and would like to arrange some appointments ahead of time. Thanks, Nom

Has anyone heard of Adam Hudson form Wealth essentials? Web site is www.wealthessentials.com He is holding some seminars across the country, so I would like to know whether he is fair dinkum. (And if he is is there anything new from what we already know. (i.e. is it just a well polished...

Can we claim the costs of setting up a trust in our "personal" tax return? or Do we have to put money into the trust and get the trust to pay us back. This would mean the trust would be able to claim the costs for creating itself. Anyway what I really want to know is whether it is...

OK this might be an obvious one but I just need someone to confirm my thoughts. Can a Discretionary trust (or any trust for that matter) trade under a business name? I am thinking of having a company as trustee for the ABC trust, trading as XYZ.. I think it is possible, and would make...

I was just curious to find out if other people have found solutions to minimise their land tax. Most of our properties are held in NSW and so we were up for a big land tax bill this year. The only solution I know of is to stop buying in NSW and start buying in other states. I know that QLD...

In NSW and VIC we are only required to but the company name on a contract, even though we may be purchasing a property for a trust. (we simply have to keep minutes of what we are doing.) I was told toady that in QLD we HAVE to include the whole name of the purchaser. (i.e. ABC Pty Ltd ATF the...

I was just wondering. If I buy a property in january, mortgage it and then pay a year in advance interest, and then sell the property in June of the same year. Can I claim the "year in advance" interest I paid to the bank even though I only held the property for 6 months? Awaiting your...

Hello, This is my situation: I bought a block of ground in December last year. Since then, have built a property on it and was going to rent it out for the next 5 years.... However someone wants to buy the house. So I was wondering. If I sell them the property do I get the 50% CGT...

Just wondering... are all units purchased from a HDT, "special income units"? Is there a different typr of unit? (for HDTs) Nom

I am not sure about this one... Is there some kind of a tax on properties that sell for more than 1 million? Are there any implications for the buyer? for the seller? Thanks, Nom

This one is for the accountants. I am lending some money to "someone" and would like to make a record of it in MYOB. I am not sure how to categorise money I lend to someone. Should I file it as an "Asset" or "Equity"? Neither of them look good to me. (it isn't a liability becase "I" am...

Does anyone know where to find good info on superannuation and tax law? I have a few basic questions like: Can a SMSF be the beneficiary of a discretionary trust? If so what will it be taxed at? (I think there are different scales depending on the amount.) What is the earliest age I...

Does any one know the difference between cross securatisation and cross collaterisation?? I am pretty sure I know what collaterisation is ... but what about securatisation? I have heard that securatisation is better. Any thoughts? Cheers, Nom

OK I know this might sound silly, but what are shares for from a company point of view (i.e. the entity issuing the shares.)? And how does it all work? I know this is vague ... just curious. Nom

If we buy and then sell land, we pay GST on the margin. (if we opt for the margin scheme.) If we buy a vacant block then build on it then sell we pay GST on the margin. But what happens if we buy a block that already has a house on it, knock it down and build a new one then sell it. Do we...

Do any of you keep trust minutes, or is keeping records in MYOB enough? I have a lot of "back dating" minutes to do and was wondering how you all do it. Do you use a word template? (and re-use whenever you need to.) Cheers, Nom

I am entering some info into MYOB for my Hybrid disc. trust, and am left wondering.... When the trust sells 10K units to someone for a dollar each how do I enter the $10K into MYOB? (i.e. the Trust receives $10K) Is it "Equity" or "Liability"? (it surely can't be a "sale", I don't want...

This is probably a bit more tricky a question, but some of you might know the answer. We know that if we keep a property for more than a year we qualify for the 50% CGT discount. Now this is the scenario. I have a block of land that I have had for more than a year and I want to build on it...