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Someone saying that should have their head examined. I am not a lawyer, but I don't think so. Only if you transferred them from your own name to a trust within the time frames of the bankruptcy legislation would there be a risk. Transfers with the intention of defeating specific creditors can...

But Nigel, I think the deed provider ought to have some sort of ATO approval of the tax treatment of a certain type of deed before making claims as to their tax effect. Otherwise, why are these people making these claims without testing them first? I only give advise to clients that I know has...

If you want to be as safe as can be, the MGS deeds are highly recommended.

I was just pointing out some of the distinguishing characteristics of the ruling that make it different from most other rental operations. Who here would be comfortable signing a 10 year lease? I wouldn't feel comfortable doing more than 2 years. I can't help feeling that the ATO felt more...

That's the one NickM lodged. Here's the kicker - "The rental property will be a residential property. A rental agreement will be entered into between the Unit Discretionary Trust and a Company providing serviced accommodation. The rental agreement for the property will be for a period of 10...

Actually, I think they are conservative because they can get sued, and they are paid to advise clients of the risks.

Surely you realise that the ATO's view of a trust has absolutely nothing to do with whether a creditor could seize the assets. What happens with a creditor's claim in court dealing with clawing back transactions has nothing to do with the tax code. As for the rest, it has already been...

I still disagree with Alexlee's position. A basic DT offers asset protection from creditors, but guarantees, charges on trust assets and special circumstances can invalidate that protection. I don't know why those other people in that seminar didn't use trusts - I can't see why anyone would...