Hi
I would be curious to know the author & title of that book.....and, whether the author is actually qualified to comment on such issues or is merely voicing their own ignorance and passing it off as fact....
I can give you a copy of a private ruling provided by the tax office to NickM that goes into the legal argument re HDT's. Furthermore, they agree that there is nothing wrong with the concept and that the tax benefits are perfectly OK to claim.
Dale
I would be curious to know the author & title of that book.....and, whether the author is actually qualified to comment on such issues or is merely voicing their own ignorance and passing it off as fact....
I can give you a copy of a private ruling provided by the tax office to NickM that goes into the legal argument re HDT's. Furthermore, they agree that there is nothing wrong with the concept and that the tax benefits are perfectly OK to claim.
Dale
PurpleP said:Hi Michael
The author didn't say they were illegal. I guess just intimating that they may be open to challenge by the ATO in the future and possibly be reigned in or legislated against. ( as most politicians probably have at least one of these structures I somehow doubt it)
The author does beleive strongly in positive cash flow property and this may be the cause of their particular view. I must say it has made me think before leaping into trusts. Not from a .....are they legal point of view? but are they necessary?
PP