Property Investor Trust - The Facts

coastymike said:
It's also interesting how some people come to their conclusions. Nowhere in Chris Batten's thread did he attack Kevin Munro & Associates or was their any inference of an attack on the firm. He was asking relevant and pertinent questions. It perplexes me when people think that asking such questions must therefore be a personal attack.
Click to expand...

Anyone who's been following the thread would have quickly picked up on that , and it rapidly destroys any credibility a first time poster will have on the forum. I was puzzled ....

I think the best thing to do with a post like that is to ignore it and let it fade into the oblivion that it so richly deserves.

See Change
 
"Put not your trust in money, but put your money in trust."
- Oliver Wendell Holmes

So Thats who we have to thank for this discussion. Thank god for Oli ! :D :D
 
Hi

"I was told by my solicitor that Chris Batten is not a solicitor and has not passed his BAR exams"

In my younger & wilder days I didn't pass too many bars but I don't remember any exams to tests.....well, a few medical tests after not passing bars that I should have...:D

Sorry, I could not resist.

Dale
 
DaleGG said:
Hi

In my younger & wilder days I didn't pass too many bars but I don't remember any exams to tests.....well, a few medical tests after not passing bars that I should have...:D

Sorry, I could not resist.

Dale
Click to expand...

Good one, Dale! :D :D :D
 
Yep, I agree re-first time posters. Funny how they have showed up for a shot at Chris.

You can learn a lot from being an observer.
 
Hey, more visitors to Perth :D

Posting this for any Sandgropers that are interested..

The Game of Tax Seminar

www.knowledgecentre.net.au

Perth

Tue 16-May

6.30- 9.30pm
Perth Convention
Exhibition Centre

21 Mounts Bay Rd, Perth
$55 Single

$44 ea for 2 more
 
Who ever writes something up here???

agent 86 said:
Amazing how thread seems to be attracting 1st time posters.;) :D
Click to expand...

And it's amazing how they both filled out the message title...

Great comment Seech.
 
Will I be locked to Chan & Naylor If I use PIT

Now I'm preparing to create a trust for my property investment. My concern regarding PIT may be different:

  1. If I use PIT, must I use Chan & Naylor to do my tax return? Is it possible for my accountant or another accounting firm to do the tax return after first year they have learned it? I'm quite concerned because of the post from the managing director of Chan & Naylor, Tony Melvin's post:
    We have had many requests from accountants wanting the deed. Initially we obliged but later discovered that they did the tax returns wrong. We fixed it for the clients at no charge. However, it became apparent that if we were to allow other accountants to use the deed we needed to train them first. Due to our increasing client demand we are unable to provide this service to accountants; although I am investigating the possibility of licensing the rights to the deed outside of Chan & Naylor.
    Click to expand...

  2. If I use PIT, must I use their C&N Fiance to do the financing? Is it possible for other loan brokers to do that? Please note they will charge you $450 - $750 if you use them as the broker. Please note the current market in Sydney is, some brokers pay customers $$$$, instead of charing customers $$$.

So generally I'm worried about if I'm locked in Chan & Naylor. Your input is much appreciated.
 
i need a trust said:
Now I'm preparing to create a trust for my property investment. My concern regarding PIT may be different:

  1. If I use PIT, must I use Chan & Naylor to do my tax return? Is it possible for my accountant or another accounting firm to do the tax return after first year they have learned it? I'm quite concerned because of the post from the managing director of Chan & Naylor, Tony Melvin's post:


  2. If I use PIT, must I use their C&N Fiance to do the financing? Is it possible for other loan brokers to do that? Please note they will charge you $450 - $750 if you use them as the broker. Please note the current market in Sydney is, some brokers pay customers $$$$, instead of charing customers $$$.

So generally I'm worried about if I'm locked in Chan & Naylor. Your input is much appreciated.
Click to expand...


I think you should email them, especially the partners of the firm and ask the questions directly, as most people in the forum are not using PIT trust and see what sort of response you get.

If they want to as their client, they should explain things to you politely. If they don't, you may want to reconsider.
 
Thanks Chris Batten.

You gain a lot of respect from this site. But you may lose a lot of your potential (making money). That is the price to be HONEST.

A bunch of gurus as mentioned (and many more), they recommend each other for their potential interests.

I respect you dearly.
 
Thanks Redwing,

First time I read those comments from Tony Melvin. Very interesting and seems like a pretty good reply to Chris Batten's comments.

Now I'm wondering what standard HDT users are missing out on by not using a PIT deed!

Eg. protection against divorce by keeping assets in blood line, transferring assets to children without incurring CGT/stamp duty?

GSJ
 
Last edited:
More information on trusts

Hi,

I have been investing in properties / shares under my name and my wife name for > 6 years. Just recently starting to learn more about trusts. Its an interesting readings. I would like to make a summary of my understandings on trusts and how it can benefit my investment plan.
Please feel free to make any comment / suggestion etc.. its all for discussion purpose .. everyone will need to seek your own professional advice.

These are structures i like
1. Family home in - Joint name ( me + wife )
2. Business - I got a trading company and family ( discre. ) trust with another company as trustee ( 2 companies + 1 discre. trust )
Assests - in trust . Liabilities in trading company.
3. Investment Properties - should be in my name or my wife until the land tax threshholds are used up. This take advantage of the NSW land tax threshhold.
4. Investment properties then be accumulate in either a) in HDT b ) in UT / HDT. Can anyone elaborate for me the prons / cons of a) or b). Is the only advantage of having the UT is for future transfer into SMSF ? Can IP in HDT can transfer into SMSF later? I like to keep things simple so if i can get around things by just having HDT then it is only ( one trust / one company ) as oppose to UT / HDT ( 2 Ts / 2 Cs ) - more paperworks , more fees pa.
5. Is it neccessary in future if one has many IPs to have more UT / HDT setups ? I prefer simpility if possible.
6. I invest ( buy + hold > 12 months) . trade ( < 12 months ) in Shares. I also do cover calls / writing puts options. I am currently doing this in personal names. I think doing this in HDT is perhaps benefit. Can anyone share his /her knowledge in this area?
7. SMSF - ( direct shares investment, MFs , own business Commercial premises , maybe in future move the IPs from UTs into here )

Many thanks in advances for your comments

Regards

Investor88
 
Investor88 said:
Hi,

I have been investing in properties / shares under my name and my wife name for > 6 years. Just recently starting to learn more about trusts. Its an interesting readings. I would like to make a summary of my understandings on trusts and how it can benefit my investment plan.
Please feel free to make any comment / suggestion etc.. its all for discussion purpose .. everyone will need to seek your own professional advice.

These are structures i like
1. Family home in - Joint name ( me + wife )
2. Business - I got a trading company and family ( discre. ) trust with another company as trustee ( 2 companies + 1 discre. trust )
Assests - in trust . Liabilities in trading company.
3. Investment Properties - should be in my name or my wife until the land tax threshholds are used up. This take advantage of the NSW land tax threshhold.
4. Investment properties then be accumulate in either a) in HDT b ) in UT / HDT. Can anyone elaborate for me the prons / cons of a) or b). Is the only advantage of having the UT is for future transfer into SMSF ? Can IP in HDT can transfer into SMSF later? I like to keep things simple so if i can get around things by just having HDT then it is only ( one trust / one company ) as oppose to UT / HDT ( 2 Ts / 2 Cs ) - more paperworks , more fees pa.
5. Is it neccessary in future if one has many IPs to have more UT / HDT setups ? I prefer simpility if possible.
6. I invest ( buy + hold > 12 months) . trade ( < 12 months ) in Shares. I also do cover calls / writing puts options. I am currently doing this in personal names. I think doing this in HDT is perhaps benefit. Can anyone share his /her knowledge in this area?
7. SMSF - ( direct shares investment, MFs , own business Commercial premises , maybe in future move the IPs from UTs into here )

Many thanks in advances for your comments

Regards

Investor88
Click to expand...

>Can IP in HDT can transfer into SMSF later?

No whitout paying CG and stamp duty.

Rgds,
James
 
I have also "opened my eyes" to looking at different structures in which to invest, outside of buying IP's in my and my wiifes name.

Is there anyone on the forums here in the NT who has a good property accountant/solicitor who has experience in setting up HDT's?

I am still actively seeking more information.....and would like to talk to others in the NT who have experience in this area......?
 
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