Trust and Finance HELP!

[The Y-man]

Stamp duty to transfer from someones personal name to a company trust structure. You might say, well you don't need to transfer that house into a trust, just each subsequent house. Well, what if I intend to earn over 180k in salary from my job?

Long term investment - Long term outlook.

The way we did it was to own high CG / negative CF properties in our own names to relieve the tax on the high income. The trust was used for running our business.

BTW - I think there is a ATO rule against setting up trusts purely for Tax minimisation purposes.... could be wrong. Can anyone enlighten me?

The Y-man

 

[Terryw]

BTW - I think there is a ATO rule against setting up trusts purely for Tax minimisation purposes.... could be wrong. Can anyone enlighten me?

The Y-man

Never heard of this before.

 

[The Y-man]

Never heard of this before.

Thanks - must have been from some scare story somewhere.

The Y-man

 

[alex9050]

The way we did it was to own high CG / negative CF properties in our own names to relieve the tax on the high income. The trust was used for running our business.

BTW - I think there is a ATO rule against setting up trusts purely for Tax minimisation purposes.... could be wrong. Can anyone enlighten me?

The Y-man

Each to their own. I don't really like the idea of pure negative gearing, if your property price goes sideways for 5 years you're at a loss, a substantial loss for that matter.