Hi Terry Thanks for replying. That was my feeling too but I thought surely it can’t be that easy? The trust deed etc was done by lawyers but with...
Hi guys We setup a trust with a corporate trustee and bucket company for a purchase of shares. Due to changes in interest rates this became a non...
Ok… we’ve made the call that in this environment for us… it doesn’t make economic sense to buy in the trust and will purchase in our own names....
Thankyou mike, Paul and Terry @Mike A - by stuck in the trust you mean lost forever if distributable income is negative yes? So the consensus is...
Have sent it on to them… Thankyou and fingers crossed!
Thankyou Terry… so just to clarify the example would suggest the franking credits are part of the net income of the trust in calculating whether a...
So our accountants believe the taxable income for the trust is without grossing up if the trust is loss making ie. 10k in franked dividends is...
Yea… same class of shares for all shareholders. Bigger dividend not possible without overall increase in profits which is possible. The previous...
Paul@PAS.. Paul… how would we apportion interest if the trust borrowed to buy VAS in order to get different sorts of income such as non-primary...
Thankyou Paul and terry much appreciated. Sorry Paul I had started that post before yours and did not finish it until after. Thankyou everyone...
Currently the trusts expenses would be greater than the trusts income. We would therefore lose the franking credits attached to the shares...
Hi brains trust We have recently set up a discretionary trust with a corporate trustee in preparation for purchasing shares/potentially...
In addition, does anyone have any recommendations for a good solicitor for this in Brisbane (or elsewhere I guess as this could all be done...
I received accounting advice that there would not be a benefit to setting up dual trusts but I tend to double check things out of caution. Paul,...
Hi brains trust My wife is looking at buying shares in her current employers business and I am looking at potentially becoming a partner/director...
I should say that the 7k is the only deduction we have claimed thus far (on last years tax return). The 50k payment only came through this...
Hmm… so we claimed around 7k in repairs last financial year but received ~50k for damages alone (not including the rent cover). Should we...
We are in the same situation. We have received loss of rent cover which I understand will be taxable but we have also received a payout for...
So… I have a property that we re-certified to type 1b. Would it be beneficial to get it re-classed as a granny flat. Mainly, 1. would it then...
If you don’t already, take out income protection insurance, I’d highly recommend it anyway. If you do go to a conference or do some continuing...
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