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  1. Bob Mullin
    Post

    Tax Tip 4: Borrowing to Pay investment expenses

    Thanks Paul. I follow that with regards to the destructibility of the insurance premiums themselves. But I'm trying to understand whether interest...
    Post by: Bob Mullin, 26th Nov, 2019 in forum: Accounting & Tax
  2. Bob Mullin
    Post

    Tax Tip 4: Borrowing to Pay investment expenses

    Thanks Paul. Sorry for being a bit slow, but I'm not clear whether you're saying the interest on a loan used to pay insurance premiums for a...
    Post by: Bob Mullin, 26th Nov, 2019 in forum: Accounting & Tax
  3. Bob Mullin
    Post

    Tax Tip 4: Borrowing to Pay investment expenses

    If property is currently PPOR and I borrow to pay for house (building) insurance premiums and then subsequently rent out, does the interest on the...
    Post by: Bob Mullin, 25th Nov, 2019 in forum: Accounting & Tax
  4. Bob Mullin
    Post

    Any issue with bucket company of a DT being owned by that same DT?

    Thanks Terry - saved me from a potentially costly mistake!
    Post by: Bob Mullin, 22nd Nov, 2019 in forum: Legal Issues
  5. Bob Mullin
    Thread

    Any issue with bucket company of a DT being owned by that same DT?

    Hi folks I was potentially thinking of having a bucket company as a beneficiary of a family trust to help smooth income over years. Is there any...
    Thread by: Bob Mullin, 22nd Nov, 2019, 2 replies, in forum: Legal Issues
  6. Bob Mullin
    Post

    Getting assets into a testamentary trust

    Awesome, thanks Terry. Also, if a DT were to vest in a beneficiary on the death of that beneficiary, would that be a CGT event/stamp duty? Would...
    Post by: Bob Mullin, 15th Nov, 2019 in forum: Wills & Estate Planning
  7. Bob Mullin
    Post

    Getting assets into a testamentary trust

    FIRST OPTION: Bart gifts $100k to Homer. Homer lends $100k back. Homer dies and bequeaths "the debt owed by Bart to Homer" to a TT that Bart...
    Post by: Bob Mullin, 15th Nov, 2019 in forum: Wills & Estate Planning
  8. Bob Mullin
    Post

    Getting assets into a testamentary trust

    Also, if a DT vests to a person on the death of that person (i.e. vests in their estate), does this trigger a CGT event/stamp duty?
    Post by: Bob Mullin, 15th Nov, 2019 in forum: Wills & Estate Planning
  9. Bob Mullin
    Post

    Getting assets into a testamentary trust

    That is correct. The intention is to be able to get capital into the TT without having to gift that to Homer before his death and also not...
    Post by: Bob Mullin, 15th Nov, 2019 in forum: Wills & Estate Planning
  10. Bob Mullin
    Post

    Getting assets into a testamentary trust

    I got the impression it's not possible to bequeath the benefit of the debt (as opposed to the repayment proceeds that Bart actually pays to...
    Post by: Bob Mullin, 15th Nov, 2019 in forum: Wills & Estate Planning
  11. Bob Mullin
    Post

    Getting assets into a testamentary trust

    Thanks Terry!
    Post by: Bob Mullin, 15th Nov, 2019 in forum: Wills & Estate Planning
  12. Bob Mullin
    Thread

    Recommendation for accountant/lawyer in Melbourne

    Hi everyone I was looking for a recommendation for lawyer/accountant in inner urban Melbourne to help with the following. I’ve never used an...
    Thread by: Bob Mullin, 15th Nov, 2019, 2 replies, in forum: Accounting & Tax
  13. Bob Mullin
    Post

    Getting assets into a testamentary trust

    Right! Could this potentially work? Bart gifts $100k to Homer, Homer lends $100k back to Bart. Under Homer's will, three TTs will be setup each...
    Post by: Bob Mullin, 15th Nov, 2019 in forum: Wills & Estate Planning
  14. Bob Mullin
    Post

    Getting assets into a testamentary trust

    So there is no issue with the benefit of the loan from Homer to Bart (i.e. the debt owed by Bart to Homer) being bequeathed to Bart? Or is it that...
    Post by: Bob Mullin, 15th Nov, 2019 in forum: Wills & Estate Planning
  15. Bob Mullin
    Post

    Getting assets into a testamentary trust

    Sorry to be pain. Could you elaborate on how the gift and borrow back would work? I thought that was what I suggested above and that you thought...
    Post by: Bob Mullin, 15th Nov, 2019 in forum: Wills & Estate Planning
  16. Bob Mullin
    Post

    Getting assets into a testamentary trust

    Thanks Terry - will steer clear. Any ideas of how to achieve the same kind of outcome or would Bart just need to gift the money before Homer's death?
    Post by: Bob Mullin, 15th Nov, 2019 in forum: Wills & Estate Planning
  17. Bob Mullin
    Post

    Getting assets into a testamentary trust

    So you think a company would be needed? Appreciate we're getting into the weeds here.
    Post by: Bob Mullin, 15th Nov, 2019 in forum: Wills & Estate Planning
  18. Bob Mullin
    Post

    Getting assets into a testamentary trust

    You're probably right - maybe a company isn't necessary. I was concerned that there would be a debt obligation owed by Bart to Homer, and then if...
    Post by: Bob Mullin, 15th Nov, 2019 in forum: Wills & Estate Planning
  19. Bob Mullin
    Post

    Getting assets into a testamentary trust

    Thanks for your time Paul. The way I had envisaged this working is that because the promissory note was issued to the company and was essentially...
    Post by: Bob Mullin, 15th Nov, 2019 in forum: Wills & Estate Planning
  20. Bob Mullin
    Post

    Tax Tip 4: Borrowing to Pay investment expenses

    That makes perfect sense. Council rates really only refer to a specific period whereas repairs and improvements (like the purchase price and stamp...
    Post by: Bob Mullin, 15th Nov, 2019 in forum: Accounting & Tax
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