Imagine dying while one of your children are bankrupt. Whatever you have left that child will end up in the hands of creditors. It’s enough to...
If you control a discretionary trust you might be thinking about setting up a bucket company to be a beneficiary of the trust. When is the best...
This is a different strategy to a recent one which involved borrowing money from parents and parking in an offset account to save non-deductible...
Yesterday the ABC News ran a story “The 60 millionaires who paid no tax and the richest and poorest postcodes revealed”, see The 60 millionaires...
Loan approvals don’t last forever. The offer generally must be accepted in a limited time frame, often one month, and then settlement must occur...
Companies are supposed to be operated in accordance with their constitutions. The constitution may restrict what the company can do or may impose...
When a trustee operates a bank account or share trading account, they will need to quote a tax file number, or TFN. Do they declare their own TFN...
I am not a fan of people borrowing money and parking it in an offset account. My very first Tax Tip was on this topic. See Tax Tip 1: Parking...
When borrowing from a related company the repayments back to the company will need to be high to meet the division 7A requirements. Unsecured...
I thought I would test potential borrowing capacity once per month for a theoretical test couple so as to see how much they can potentially borrow...
person but the person that inherits it rents it out and sells in after 2 years? Normally if the property is sold within 2 years, (actually settles...
I just ran a servicing calculator, our comparison calculator which is not entirely accurate, for a couple and thought I would post up the range of...
People often borrow money to acquire property or shares. When borrowing to buy property they may borrow the deposit from a related entity and the...
Minor children can contribute to super if they are earning income from the carrying on of a business or are an employee. S 290-165 ITAA97 INCOME...
Pensions worry about losing the pension when they are trying to change house and want to sell before they buy a new one. They think this make take...
In my loan tips I explained how it can be possible to temporarily borrow from a related company (see Loan Tip: Using a Related Company as a Short...
Sometimes someone might need to borrow money in a hurry before a loan with a bank is actually set up. This might be to pay deposit on a property...
What happens if someone dies and leaves a minor child an asset to be held on trust until that child reaches a certain age and that child dies...
A right to occupy a property in a will can be a CGT saver. Example Homer dies and leaves his main residence to Ned Flanders but he gives his...
There is a general misunderstanding out there that capital gains can be reduced by moving into a rental property just before selling it. There...
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