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Nek, if you are serious about considering buying via trust mate, I would suggest you have a chat to either your accountant or legal representative, perhaps have a chat to your accountant, as they would probably have a better idea of your overall financial circumstance

Ok, trust borrow the money, and you are the guarantor?

Trust buys land, and you will become the guarantor Ultimately, is it you who's borrowing the money That's how I understand it so far Our experts probably can explain it better than me

Can I apply mi self or should I get the accountants to?

On another note, do I need to apply for a separate tax file, ABN etc...? My lawyer said it is better to speak to my accountant about this

I am not even going to pretend to understand this, I will just remember, don't get sued

Thanks for clarification. As a L plate developer, is it worthwhile to go this extra step of setting another company for the building aspect? I mean, I will sub contract to a builder to help with the building Will it be over kill in my case?

Correct me if i am wrong Abc company can go bankrupt, however the assets are still owned / belongs to my trust If my trust go bankrupt, then the asset is liable So in reality. What are the protrction here? Say we build the homes, and someone sues abc company, the trust is still going to...

So what you are saying is, trust owns the land, then setup another company to do the building. Trust sub contracts to the comany for the building, company then sub contract to contrators to do the job. This is what you mean?

No shes kinda like a friend

Yes Terry, when is your book available, need to read up more on this topic, rather than looking stupid here, :D

I am buying under a company due to development opportunities with this purchases. Apparently there are legal, protection and tax benefits I am hoping to become a L plate developer

Mail from my lawyer and explanation "You guys are directors and shareholders of the company ABC Pty Ltd. The company is the trustee of the XYZ Family Trust. Whilst the property will be registered in the name of the company, the property is in effect owned by the trust. As the trustee, the...

oh... But it is ultimately ABC PTY LTD buying the property?

Ok, sorry for my ignorance on this matter So, I am buying under xxx PTY LTD, where XXX family trust is the trustee. Am I not the trustee here?

Ok PT, understood. I shall proceed with depreciation with Scott to reduce income earned.

Hi PT, Thanks for your clarification Therefore Depreciation is applicable to reduce income (rent collected) However, you cannot negative gear your personal income, even though your the trustee of this trust. Thanks for all the advice

based on this, depreciation is still applicable to reduce its income (rent collected), right? However, under trust system, you cannot negative gear, is that right?

DT, we are buying under a discretionary trust (company trust), where we are the trustee of this company

Hi Guys, Does anyone here buy under a Company Trust? If so, can you still claim for depreciation? Thanks,