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Question My husband and I have lived in our own home for 4 years, taking out the original loan with no thought of renting it out at any time in the future. However, we have now decided to rent our home as we are leaving the area, with the possibility of returning in a few …
Question My wife and I currently own a house which is our principal place of residence. We purchased the property in 2001.We are constructing a new home and are planning to move into the property when it is completed. This property is also in joint names.We are considering keeping the existing house as an investment …
Question I purchased a property with my late wife as tennants in common in 1979 prior to the introduction of capital gains tax.In 1989 my wife passed away. We had lived in the property from it’s purchase.On my wife’s death the title to the property was automatically transferred/transmitted into my name soley. I continued to …
Question I have clients in NSW who recently bought a B&B business and were advised by a previous financial adviser to hold both the freehold property and the business in a DFT with both of the individuals named as trustees and beneficiaries. They are unable to recall the specific reasons they were advised to use …
Question I am 56 and my wife is 53 and jointly own a property which we are in the process of reconfiguring into 2 separate lots and intend to build a duplex in the back yard which will be on a separate title.Can we build the duplex in the name of a SMSF and still …
Question Thanks Julia for your answer to the question about buying shares in children’s names.I have another question. In your answer you mentioned a Bare Trust. My question is how do set up a Bare Trust orDeclaration of Trust and what are the pros and cons. I understand that if capital is added then a …
Question Is it possible to buy shares in a child’s name when they are aged between 0 and 17. More particularly 0 and 7ie the child is unable to sign the TFN application. As I understand if the shares are bought in the name of a parent atf the TFN used is the parent’s and …
Question Entirely- contrary to Newsflash 8Feb.2008 now_ Ihave it upon -warranted! advice , that-with a prior profit making intention , the main residence exemption -CAN_ be available (Duplex Proposal Finding 4.12 Bantacs Ninghi , financed by me). Associated Duplex Finding 4.1, 4.2 seem contrary , to also How Not To Be a Developer Booklet (definition …
Question I have been negotiating with a local landowner (who has owned the land pre CGT) to assist in sub-division and development of his block.He wants to build and live on the bottom block, we want to build and live on the top block, and our SMSF wants to build a house on the middle …
Question We have two properties that were bought in my wife’s and sister in law’s names as tenants in common 50/50. I being the higher income earner stayed out of it as the intent was to build and sell short term. Building has taken a little longer than anticipated and we might hold on a …
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