Trust Documentation

[igs]

From: Igs Kanny


Ladies and Gents,

We've got 3 IPs. All in our two names (mine and my wife's).

The forum is boiling about trusts and I am beginning to think that I'm playing with fire having all properties in my name.

Besides the Renton's book "Family trusts", is there anything I can find on the WWW or otherwise about trusts tips and tricks and how to use them?

I'm not new to property investment but completely missed out on trusts. Our accountant once told us not to bother since they're closely watched by the ATO (he must've been protecting his own rear end there) and we're not rich enough to get into this kind of stuff so just go with the flow.

Any info would be greatly appreciated.

Igs

 

[Tibor]

Reply: 1
From: Tibor Bode


Hi Igs,

Regarding to trusts you may want to talk to our resident finance guru, Dale. He made an excellent book called "Tax Battles" (I have it) which explains the pros and cons of having one. After listening to him and reading his book, it might just make sense to me to purchase properties in the future (I am stuffed with the past ones, or it is expensive to transfer them over) using a trust. Personally it seems to me that the advantages overweight the disadvantages.

Tibor

 

[igs]

Reply: 1.1
From: Igs Kanny


Thank U Tibor,

I've ordered Dale's pack yesterday after some consideration, I haven't got it in the mail yet though.

I pretty much need all on trusts. In what flavors they come, how to organise one, why would I use them etc etc. Our accountant is totally useless in PI area.

Igs

 

[see_change]

Reply: 1.1.1
From: See Change


Igs

Nick Rentons book and Dales notes probably cover anything you need to know about trusts.

While not an expert, I have spent a fair bit of time reading and talking to people about trusts, and haven't come across any sources of info that enlarge on the knowledge in these two sources.

see change

it's better to be guided by your dreams than your fears

 

[watto]

Reply: 1.1.1.1
From: .watto .


Hi Igs,

I have not had a chance to read thru this page just yet, the quality of info contained within my be relevant to you.

Hopefully you find some useful info.

http://www.taxlawyers.com.au/manuals/FamilyTrusts.htm

Cheers
Watto
Melb Freestyler

 

[igs]

Reply: 1.1.1.1.1
From: Igs Kanny


Thank U all.

Much appreciated.

Igs