Buying House with Trust, then lease back & LAFHA

[radelaide]

Work might be relocating me to another state so I would be eligible for LAFHA, so was wondering if it would be possible to buy a place using some sort of trust, then rent the place back to myself but still claim my LAFHA?

 

[Ergophobia]

My rule of thumb is "if it sounds dodgy then it usually is"

To get LAFHA you need to sign a declaration, so if you are found out you'll be in a world of s#!t.

IMO you should lease the place to a work mate and stay "somewhere else" preferably rent free.

 

[BMan]

My rule of thumb is "if it sounds dodgy then it usually is"

agree
doesnt mean it cant be done but if its dodgy then there could be consequences

IMO you should lease the place to a "work mate" and stay "somewhere else" preferably rent free.

still dodgy but as long as you dont get mail sent there or do transactions to yourself theres less chance of getting caught

 

[Ergophobia]

I need to update my profile so my sig reads <insert long winded disclaimer here>

 

[coastymike]

I think the Commissioner would argue that your "usual place of residence" has now changed to the property leased by you from the trust and so you would not be eligible for a LAFHA.

 

[Ergophobia]

I think the Commissioner would argue that your "usual place of residence" has now changed to the property leased by you from the trust and so you would not be eligible for a LAFHA.

thats what I was getting at with the declaration

here is a typical one http://adm.monash.edu/human-resources/forms/lafha-declaration.pdf

get caught and its a criminal offence... I prefer to sleep at night

 

[Aaron_C]

I don't understand why people try and do silly things like this for small money...

 

[radelaide]

Not doing it if its illegal...