company trust

Discussion in 'Legal Issues' started by tj22, 5th Jun, 2015.

  1. tj22

    tj22 Member

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    hi guys i'm under the assumption that a company trust set up to buy property through is around 2k set up with a 1k p.a ongoing fees.

    my question is if u buy ip1 through this structure and then you go to buy ip2 in the same structure how much more does your annual costs go up by? is it another 1k?

    Cheers,
     
  2. Propertunity

    Propertunity Real Estate Buyers Agent

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    That's not the question you should be asking. You should be asking what you are trying to do in the first place. Asset protection? Tax savings? Etc.
     
  3. Terry_w

    Terry_w Member

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    There would generally be no extra costs other than a slight increase in tax return fees (just as it would increase if you bought a 2nd property).
     
  4. tj22

    tj22 Member

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    mainly for tax reasons
     
  5. D.T.

    D.T. Property Lookerafterer

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    That's not what Propertunity was getting at.
     
  6. tj22

    tj22 Member

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    hi D.T could you explain what he meant then? :s

    i'm trying to figure out if it's worth buying through a company trust structure to save on income tax but also land tax and the fees that go along with it.

    the property i'm looking at is positive by $90 a week
     
  7. Scott No Mates

    Scott No Mates ...and people wonder why?

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    Just get a depreciation report, that'll knock some $ out of the return.
     
  8. tj22

    tj22 Member

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    i thought that only worked on newer properties? i buy older properties
     
  9. Scott No Mates

    Scott No Mates ...and people wonder why?

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    Things break or wear out even in older properties - eg stoves, lighting, carpets etc.
     
  10. Terry_w

    Terry_w Member

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    How old? I have a report here for a 25 year old property purchased for $580k which allows $10k in depreciation in the first year.
     
  11. tj22

    tj22 Member

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    it's around the 200k mark and i'd say 1970-1985 build