The other drawback that's not mentioned in this video which I think is pretty significant is that a trust pays a lot more land tax. However if you have more than $3,000,000 in land value then the land tax would be the same, so IMO if you are setting one up to hold properties, only really worth it if you have $3m or more in land value.
@cassiewestland4688 ай бұрын
Is this land value total that can be spread across multiple properties or a single property only?
@vinnyjones66625 ай бұрын
@@cassiewestland468 The total in a state/territory. It can be single or multiple properties. Each state/territory have different land tax thresholds for Family Trusts.
@The10dai2 жыл бұрын
Absolutely loved this video guys. Thank you so much for sharing this information in a very clean & precise manner. As a director l appreciate this content!! Please Keep the content coming
@DavieMach2 жыл бұрын
Glad it was helpful!
@msmoove8154Ай бұрын
Thank you. An Australian channel that talks business. I can relate too. 😊
@shanpieeeАй бұрын
great video! thanks!
@dmenace9288 Жыл бұрын
You guys are awesome. Thanks for doing all this.
@DavieMach Жыл бұрын
Thanks for watching!
@thanht902 жыл бұрын
This video was great. Concises and straight to the point! Plus I think i'm getting a pretty big crush on Davie! He's pretty cute
@DavieMach2 жыл бұрын
Thanks Thanh, you always had the crush. Just approach him and be honest!
@TheTraveler2222 Жыл бұрын
Can the Trustee(s) themselves also be their own beneficiary?
@kerinbooth31662 жыл бұрын
Excellent video thank you! Will share with family members.
@DavieMach2 жыл бұрын
Please do, Kerin. Glad you got something out of this!
@hjuniform Жыл бұрын
Explained really clearly, thank you! I read that the 50% CGT is applicable to a family trust, am I correct assuming that if the capital gain is 10000 and the two beneficiaries each received 5000, then when the beneficiary do their tax at the end of the year, they only need to report 2500, am I correct?
@user-bz8kg8vt7q3 ай бұрын
Yes
@pongpong1129 ай бұрын
Nice one guys!🎉
@tongPoh2 жыл бұрын
Thanks so much for this video!! Very informative. Takes the sting out all of this stuff. My name is JD. Question: Can a Trustee also be a Beneficiary? Couldn't that be a conflict of interest? Question: The Trust protects my personal assets from Creditors, but can Creditors still attempt to sue the Trust? Thanks so much guys!
@deemad21802 жыл бұрын
Brilliant
@DavieMach2 жыл бұрын
Thanks for watching, Dee!
@nammalilleee32072 жыл бұрын
Discretionary Trusts still have PSI rules applicable?
@DavieMach2 жыл бұрын
Yes if you earn PSI income
@rishabhpatadia2288 Жыл бұрын
Does the split income work for TFN income as well, or does it have to be business or other income?
@davidmcdonald5693 Жыл бұрын
Could I open a trust and buy a property under that trust and rent it out to myself? 🤔🤔🤔
@DavieMach Жыл бұрын
you can, but then you will have to pay income tax on the rental income?
@TysonTheRand Жыл бұрын
Why tf would you wanna do that
@enxhifusha5979 Жыл бұрын
@@TysonTheRand to claim it for tax purposes “claim interest, depreciation, and other associated expenses as a tax deduction “ A lot of big investors do so or rent vest instead
@justwingit16332 ай бұрын
Mate u can do whatever u like the world is your oyster
@sushantkarki27086 ай бұрын
If i am the trustee , can my creditors come after the trust assets?
@DavieMach6 ай бұрын
Best to speak to a lawyer about this
@watekininaivaukula3291 Жыл бұрын
I really need help for this , can I buy property without business??
@DavieMach Жыл бұрын
ofcourse you can, the only thing that will stop you will be coming up with the money via cash/loan
@PeterParker-st9ps Жыл бұрын
Can you feature Molly in more of your videos? She is pretty cute.