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Whats worse is that Ubank (a subsidiary of NAB) has cut the interest rate on their savings account by 0.4%! Their screwing us from both ends, Sash!

In that situation though, couldn't you show a copy of the trusts' bank statement showing the deposit of the money into the trust's account accompanied by the words "Gift" in the description column and then the corresponding outflow of money with the reason "Loan to XXXX"? Sure it's informal...

Hi all, Thanks for your feedback and comments. Terryw, In regards to my intention for the gifting yes it is for asset protection, but it is not to defeat creditors as i do not have any! I am a PAYG employee who does not owe money to anyone. I have previously looked at the bankruptcy...

Hi All, I have heard about the gift and loan back strategy for family trusts for a while and was wondering if it was necessary (or even worthwhile) to have formal documents for i) the deed of gift ii) a loan agreement and also, iii) whether it is necessary for the gift amount to...

Thanks all for the feedback. I think the safest thing to do would be to staple the settled sum to the trust deed.

Hello all, I am just curious what the correct thing to do with the $10 settled sum to create the family trust? It was suggested to me I should make it the initial deposit into the trusts' bank account, but to me that doesn't look right, as wouldn't it then appear on the bank statement as...

Hi Terry, Does the gift and loan back strategy work for cash? I thought it only worked for things like equity in a house, because when the trust loaned the equity back, it had a mortgage registered to it. I don't think you can obtain a security/mortgage with cash?

If property doubles every 7 years, in the 42 years since it was purchased off the plan it should have doubled 6 times over. But 15,000*2^6 = $960,000, not the $615,000 it was sold for. Therefore the property has underperformed by about 36%!!! :)

What was the dimensions of the change? I had a tiny bowl about 10cm x 10cm 5cm that i thought had about $20 worth of coins, turns out it was just shy of $60

to add a bit more info: http://www.zerohedge.com/news/sp-downgrades-us-aa-outlook-negative-full-text

I do - what's worse is he takes 4 lots of blazers/jackets, not just one.

Its even worse when the lunatics believe they're geniuses...

I've read all five posts above and don't know what anyone is getting at :(

I agree Sunfish, it pays to listen to different sources other than those which are convenient. On a different note, what do you think of Prechter's prediction of the Dow falling to 1000??

couldn't you move into the house once you passed your preservation age?

Hello, I was just curious whether it is possible to borrow money from a bank (say $50000), invest it in your super fund, then claim a tax deduction for the interest paid to the bank. Is this legal? I've tried googling and the ATO website, but I can't seem to find the answer. Cheers

I agree, but what are the many people who have a small amount in super supposed to do? A smsf is only cost efficient for sums larger than $200,000. :(

nonrecourse, if the reports eventuate of a US fund to deal with bad mortgage-related assets (similar to the Resolution Trust Corp that was used to clean up bad debts from the savings and loan crisis in the late 1980s) will this alter your view at all of a soft depression? Combined with the...

apparently he was ommitted before the Saints match due to back tightness http://www.realfooty.com.au/news/rfmatchreport/marching-in-right-direction/2008/07/19/1216163236157.html?page=fullpage#contentSwap1

I agree with this post