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Reply: 2.1.1.2.1.1.1.1.1.1 From: Duncan M On 3/13/02 2:54:00 PM, Dale Gatherum-Goss > >Partnerships are dangerous >things!!! OK, I'll bite again :) Are partnerships dangerous because all partners are joint and seperately liable for the debts of the Partnership? Regards, Duncan.

Reply: 2.1.1.2.1.1.1.1 From: Duncan M >However, a partnership does >not allow the same flexibility >because "mum and dad" are not >employees of the partnership. I see. In order to benefit from this concept if you're running as an indvidual or a Mum and Dad parternship is to move an amount...

Reply: 2.1.1.2.1.1 From: Duncan M Thanks Dale, I see now. Would it be true that this concept would apply to any non-individual entity correct? Including Pty Ltd's and Partnerships? ie, its not specifically a Trust thing is it? Many thanks for feeding my bite. Regards, Duncan.

Reply: 2.1.1.2 From: Duncan M >Flexibility (again). A trust >allows for essentially private >expenses to be claimed as a >tax deduction as we discussed >at the pub crawl the other >day. Could you expand on this one a bit Dale? Many thanks, Duncan.