Search results

Cash in a real estate agent's trust account belongs to the purchaser until settlement (at least in NSW). So Richard's technique should work well. You simply pay more at settlement from borrowed money and any cash in the trust account is reimbursed to you. Seek specific legal advice.

Yes it has. Best to seek tax and legal advice otherwise interest may not be deductible.

A company is a separate legal person so should be ok from a legal point of view. But if you have contributed money to the trust or company and then borrow it back the ATO may have a few issues with this.

Seek legal advice before doing that.

s8-1 If you reimburse yourself you are borrowing to pay for something already paid for so the interest doesn't relate to the expense the money was used for initially. A way around it may be to borrow from someone and then refinance this loan with the loan from the LOC.