The main focus being buying in the trust name, or, parents buying in their nsme...pros, cons, tax implications
Hi. Hi i dare say u are correct. They are prob are trustees....but i incorrectly thought it was the same as a director.
Sorry. My bad for being in a hurry. Children are beneficiaries. Sorry!! Rewritten below Hi. Just wanted to see what options there were to...
Hi. Just wanted to see what options there were to buying conmercial properties. There is a family trust fund with parents as directors, and...
No issues. But have heard from my friends, that yheyve had insurances denied due to stuff they possibly could not have know n about. One was a...
And dont forget...insurance companies DO in advance work out if a house is insurabkl...based on being in a flood zone or not...so whats the diff....
The issue is not about honesty... its about being ignorant. There could be stud wallls (for example) that have no tie downs...hidden behind...
And you think thats reasonable. Why dont they get off there ass and ensure the customer is able to be insured. And what about the 'old lady' that...
Thats not the point of the post. The point being im not a bulider or professional to deem what isna defect when i join for.insurance. the oneous...
Hi I have a hypothetical query. If a home is 20 years old and a claim is made(say roof tile moved and caused a leak)...assessor comes out and...
Ok. I see. So long as the ATO recognises that 70% is a main residence for my parents under a 'tenants in common' arrangement.
Ok. I thought thats what my latest graph showed...but thankyou anyway :)
I suppose another issue: during the 2 year period after inheritance, does the ATO consider the value appreciation of the 70% portion that would...
Hi Terry. I think the attached graph captures what you mean? Blue arrows are my cgt responsibilities. Vertical Grey bar graph is me. Other 2...
I agree. And I know i have not split the parents apart as they are both 35 % each. The end result is that i will only ever own 30% and then...
I was doing some very rough calcs on CGT. I think this attachment is correct but appreciate any feedback…it considers only the main cost of the...
Any advice on the type of solicitor needed. Ie conveyancing type? Or other. I got a feeling the bank would not have loaned me the money as an...
Hi Terry. It was based on their affordability at the time. The mortgage is all 3 names. For me to get the small loan and be responsible of for it...
Sorry Paul. Did not quite understand that. I do mean a typical case...ie one parent passing on...then the remaining parent owns the 70% (and my...
Cheers Paul. Thought that may be the case. ** I presume then in the future with inheritance etc... if i decide to sell the entire home...then i...
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