Trust structure

Have been searching for information about trust structures and wondered what the most common one people use for investment in NSW is for asset protection without making finance difficult? My wife and I own several properties in Sydney tenants in common, but they are units so still under land tax threshold.
My accountant said most people use discretionary trust but this would mean we need to pay land tax on the properties in the trust. If use unit trust the proportion of ownership can still be covered by land tax threshold, but mortgage broker said unit trusts with are not good for finance, especially when use corporate trustee.
He recommended to use discretionary, with myself and wife being both trustees and beneficiaries directly. Does that still have the same asset protection benefits, or does it reduce the separate entity characteristic of the trust?

I'm planning to get more specific advice from a financial advisor or such, but wanted to get an idea what most investors use first so I don't get tricked by advisor into a chan& naylor hybrid trust or Natalie Grubisca 'vesty trust'"etc that more experienced investors would avoid.
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Do you plan to get many more in sydney?

Disc trust and unit trusts have same treatment towards land tax from what i remember.

Not really much different for lending for the most part, assuming your broker is decent he'd know this.

If the property deal you're buying is buy and hold forever, and you're a couple, then id prob choose disc.
It does depend on your strategy - losses in a DT cannot be distributed, they have to be quarantined within the trust and used against future trust income. So no good for neg gearing, especially longer term.
I think you're accountant is right. The most commonly used type of trust for asset protection purposes is a discretionary trust. It's also the easiest type to get finance through.
D.T. has a bad memory. Fixed unit trusts do have different treatment to discretionary trusts for land tax in NSW. The unit holders are considered the owners for land tax purposes. However Fixed unit trust offer absolutely no asset protection advantages over owning in individual names because the units make the holders presently entitled to both income and capital.

There are 4 broad types of discretionary trusts, each with varying degrees of asset protection upon bankruptcy. You also need to consider drafting of the deed for asset protection from family.
Thanks for the great replies!
So discretionary trusts are no good for negative gearing- so I should only use trust for positive or neutral geared property...
Few more questions:

1. For land tax, is it that even if I personally don't pay land tax, the discretionary trust cannot pass the land tax on to the beneficiary to use beneficiary land tax threshold so the trust has to pay land tax? Or is it that land tax is assessed against trustee and trustee can use their land tax threshold?

2. And is it ok to use company trustee as far as finance goes, or is it better for wife and myself to both be trustees and beneficiaries?

Strategy is buy and hold long term of a negative geared sydney apartment property around $650,000. May live there in the future (but probably not) only for few years then rent out again. Will also buy other positive geared investments in qld but use seperate trusts for those.
Discretionary trusts can negative gear like all tax payers. But a loss in a trust cannot be used to offset person income - Directly.

In NSW discretionary trusts receive no land tax threshold at all. No trust can distribute losses or expenses. If a trust incurs land tax the trust claims the deduction.

It is best to use a company as trustee for a few reasons
1. Asset protection = Trustee is personally liable for trust debts
2. Passing on control = title to property need not change on death etc
3. Clearly distinguishes trust assets from your own assets.

Company trustee generally does not make finance any harder. Also not a good idea to have 2 trustees.