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Hi all, If a disc trust sells its property does the profit have to be distributed straight away? - what I mean is is there anyway for the trust to retain the money in the trust and use it to purphase another property.. rather than distributing it if that makes sense..

Thanks for replies. Jclegg yes I think your idea of buying "and/of nominee" is the best way to do it. Good Idea. I suppose the potential nominee's would all have to be named on the O&A? do u know?

Basically in the situation where Im doing small developments joint venture with a finance partner. I will put the offer on, get the DA, due the due diligence etc, obtain some presales. Once all stacks up I want to transfer it over to the finance partner who can then settle on the purchase and...

Hiya, If I buy a property as trustee of a normal disc trust. Then before settlement I change the trustee to someone else, does that sound doable? Could it 1) Give the seller a right to say O&A void and get out of sale if they wanted? 2) Cause us to have to pay stamp duty twice? (im in WA)...

Thanks for the replies - that explains things!

Hi, Been sent a letter from the bank saying the IO term is coming to a end and loan will revert to P&I. (banks are Westpac & RHG) Do u know can I still keep these loans at IO? The letters read like I dont have a choice and P&I is now my only option? WHy do they have these 'terms' as such...

thanks - can u (or anyone) recommend a solicitor that would be familiar with more innovative styles of purchasing..

Hi Aaron, By solicitor do you mean settlement agent? In WA we use settlement agents - whereas Ive always thought of a solicitor as a lawyer..? Is it just a matter of the wording on the O&A?, or are we talking about some seperate document that would need to be drawn up with this sort of...

No dramas. Your solicitor will word this up in the contract of sale Thanks that sounds great. By solicitor do u mean settlement agent? Does one need a special settlement agent for these sort of deals or is just the normal one down the street fine do u think?

Hi all, Im looking at buying a property and splitting it into 3. I can get a long settlement which means I will obtain the DA on the property before settlement. As I understand If I then on sold the land at a higher price with the DA that would be a normal flip (just learning about these)...

Not true. With a warrant, you can borrow a maximum of up to 72% (sometimes 80%, depending on lender). _____________ Thanks - so the other replies that talk about borrowing 70% or so, what is a lender providing funds against if the land is not security??

Thanks muchly for the replies.. Could I buy something say 50/50 with my SMSF. ie say then if the land split and sold 50% of profit goes into SMSF and 50% to me now? Excuse my ignorance - these are probably fundamental questions but only just started looking at SMSF thingee and theres seems...

hiya If I buy a property with my SMSF can I split say off the rear block and sell the block (retaining the house). Where would the money go? - will it always stay in the SMSF? Same thing could I just buy a vacant block and split it? or is vacant land not allowed with SMSF's.. Thankyou...

"Why do you keep saying you are not caught by PSI rules" Not sure where u get this from? as I said previously "The key point though with my situation is yes its personal services" Don't people involved in selling a property need a licence? What about if the employer brings her on as a...

Hi, Anyone used a online or phone accountancy type service for queries etc..- searched on internet and kind find anything (except lots for other countries..) Thanks

No no licence required either way. Just the rules come in a year ago that new sales consultants have to be paid a minimum wage. Doesnt apply to existing consultants. Wouldnt apply to her if acting in a partnership.

The whole point is that the tax legislation effectively disregards any structure (apart from entity maintenance deductions) and treats ALL INCOME as if earned by the individual performing the personal services. Additionally, outside of tax law, a common law partnership only exists where a...

Thanks. From my reading I understand I dont meet PSI rules, so trust company etc.. not a option. However partnership with wife seems like might be OK, as wife doing a % of the work. I read one of the partners can be paid a salary, which could work if Im paid a base salary as I do most of the...

Thanks for replies. I do not meet the PSI rules so cannot & havent split income previously. However now that wife will be actively working with me I want to be able to genuinely divert income to her. I still dont understand if that justifies me setting up as a partnership. (read the link...

Thanks for answers. Question is with the personal services rules thingees I wouldnt have thought I was allowed to operate as a trust? As I technically only invoice one company? Thats what Ive heard anyway - do u know anymore re that situation?