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The following steps should be taken to make it clear that an asset was acquired for the trust: - The Contract for Sale should record that the purchaser enters into the contract as trustee of the trust. - If the purchaser is a company, the minutes of meeting of the company should show that the...

sorry should have been specific. mum as unit holder and shareholder of trustee company

this is a bit complicated and I'm planning an appointment with the lawyer though I thought I'd get advice off reputable people on these forums. ABC unit trust:- 3 brothers (all married with kids) have a third percentage in units in a unit trust with a substantial amount of equity in...

Thanks for your answers, I don't think many like the mention of prenups it just opens up an avenue to give them a taste of making sure everything is black and white across the board. It's all about trust in the end isn't it? :D new loan for the unit holder (mum)? does the bank lend to unit...

Hi all, I own a residential property valued at 650k. I'm planning to be married next year however I do not want to tie my property into marriage because I have been holding this property for my mum since purchase. As I am title holder can I somehow create a Unit trust with my mum as the...

you can pick up an investment close to mt druitt shops villa 3 bedda for around 280k fetching 340p.w rent. not a bad return and no trouble as its away from housos.

Thanks terry on an answer he'd like to hear :D Let's not be so negative people, we seem to think someone is guilty before proven innocent. If a business can claim legal fees for defending a claim of negligence we could argue the similarities of a "breach" in any case. FYI court hearing is...

Hi All, A close friend of mine is currently in dispute with the OSR in regards to the stamp duty exemption rebate claimed in 2007. This has been an ongoing dispute and the legal bill plus interest has cost my mate 3 fold what the stamp duty exemption was to begin with. Regardless, the...

Hi guys, I am buying land on saturday with a partner planning to build duplexes, we are getting a joint loan using our property as collateral. Our intentions are to build and sell, however if i wish to sell one duplex and my partner wants to keep his or live in his.. is there any stamp duty...

thanks brendio, your a champion!

I bought a house and lived in it for 15 years (street #36) until one day I opted to subdivide it into 2 blocks knock the original house down and build 2 new homes at once, the other house was allocated street number 38. I moved back into #36 for a couple of months and before selling it to move...

i use BMT, whatever you want whenever you want.. well worth it

...the changes coming into effect on 1 July 2008 will undoubtedly have a positive effect on Australia’s desire to become a regional centre for multinational companies. The abolition of quarantining rules will relieve companies with foreign sourced income from tracking and collecting different...

Isle of Man is an oldie though still tax effective however I advise my clients to keep it out of the UK and through an economy whom is reluctant to expose detail. ;)

just to note if tax return is your focus beware of CGT and Land taxes

thanks guys champion!

my real estate agent has the cash in his trust account, the purchaser issued the deposit to him. do i still debit cash because my entity doesnt physically have the cash yet?

I was thinking credit sale of property (income) and debit trade debtors or monies held in real estate agents trust (asset)??

Hi guys, Deposit relates 6 of the 30 apartments held in the real estate agents trust account. How do i treat it on the trial balance. Not a CGT event. Thanks Peter

who's to determine market rent? at who's discretion?