Sometimes I encounter clients who think their whole property is exempt from CGT but that turns out to not be the case on closer inspection....
Loans really only need to be split in the following situations: a) Where the end users will be different b) Where the uses of the borrowed...
Powers of Attorney appointments are made under State law with the rules differing from state to state. There are laws in NSW (and other States) to...
I often see statements that the 6 year rule for CGT can only apply if the taxpayer does not buy another main residence. But this is not true!...
Legislation has been introduced to change the tax rates, for resident taxpayer individuals, in the 2024-2025 tax years and later. This can be...
If a new trust or company is established, it will have just $10 or so of capital. It will need more money if it wants to invest. To get this money...
No that won’t work. The definition of a trust is someone holding something for someone else. Where the trustee and the beneficiaries are the same...
Did you know you can get your executor to do stuff for you after you are dead? Nifty hey? One thing you can do is to instruct them to buy a...
It is largely irrelevant what the LVR is for a loan when working out serviceability. Someone wanting to borrow $1mil at 50% LVR will be treated...
Death sometimes happens after signing a contract of sale but before settlement of the property. Usually, these sales do not complete as there may...
Older people sometimes are asset rich and income poor and they are reluctant to sell to raise funds as this can affect the pension. So, they...
This is a basic strategy that I wasn’t even going to post but think some people may not realise this. Once the non-deductible debt is gone it is...
Sometimes we see situations where a property is owned by one person yet both them and their spouse are on the loan. This can be common for...
I will use this thread to record cases that relate to asset protection. I will add new cases as they appear and sometimes add in old cases when I...
Shares can be negative geared just like property. This can even be the case where you borrow against property to buy the shares – for tax the...
A deceased estate is a separate taxpayer for tax purposes. It is a trust but taxed in a special way. The executor or administrator of the estate...
It is possible to give a power of attorney to someone just for one asset or transaction rather than an open ended power over all assets. This...
Depending on the circumstances the rate may not matter, immediately, because there is no interest payable on a loan that is fully offset. But...
It is possible to move borrowed money around without losing deductibility of interest. A taxpayer might want to redraw from a loan with a low rate...
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...
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