All of those are applicable if gifting a large lump sum as well, right? I.e. gifting a salary every month does not make it more likely to be...
Which are the ways could it be attacked, if it is a regular transaction spanning possibly many years?
Ah ok. That sounds like a more genuine plan IMO, if it ever came under attack because they're regular contributions as opposed to one lump sum...
I mean the interest paid to the bank to release the equity and gifting the equity to the trust, as per the situation described before with John....
Ok, but that still doesn't help to claim the interest paid to the bank, right?
Not sure I follow. What does that achieve?
Thanks Terry, that makes sense. Re. 2, it seems like a big disadvantage tax-wise to use this strategy to gift money borrowed from equity to a...
Hi, it's me again. I can't let seem to let this topic rest :) Say, John has an IP worth $500k and he owes $300k to the bank. John wants to protect...
4. You're right, knowledge of impending bankruptcy or, like in this case, knowledge that someone can't pay their debts, prevents the mortgagor...
1. Some interesting things in this case: The equitable mortgage was recognised, even though it was only a verbal agreement. 2. The legal mortgage...
Thanks everyone! It's a complex topic and it is very helpful to get all the facts from the experts!
I understand banks don't like lending to HDs. But I think there is still merit in setting up a HD to buy property and be able to negatively gear...
Thanks It appears such transfer would be void if made in the period beginning 6 months before the petition, so that pretty much covers any notice...
Suppose one sets up an equitable mortgage. Then he/she is sued and they're after that asset. Before anyone else puts any caveats that person then...
I see. It sounds like putting such a clause there would defeat the purpose of setting up a HD for the tax benefits I.e negatively gear
Separate names with a comma.
