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Great video as always, just wondering if this trading trust ok for asset protection? Also does mum get a wage from the company? Could dad get a wage too? Thanks

Great video mate, simple and clear!

does turning a principal place of residence into an investment property be advisable to an accountant ?

Is a partnership bulletproof when things go sour as in, is the ownership of the business clearly defined for all partners?

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One of the most informative videos of our time

hello thanks for the great videos, i am wondering if a new business start up would be ok for a partnership structure husband and wife? Only to get it off the ground and then change to a trading trust structure ? i would think this would be beneficial for asset protection also . thank you

If the smsf has a corporate P/L trustee, is a separate P/L company required for the property?

Thanks, short sharp and direct. Can my SMSF buy an investment property from one I already own?

Thank you for your video. As you mentioned, the trustee company has its legal strength and advertises to the outside world, but the trust is to run the business and pay tax. I am wondering which one, the trustee company or the trading trust, should employ staff, pay payroll, pay all sorts of operation costs like rent, power, etc. claim GST, and receive sales revenue from customers? In other words, whose bank account should be used to account for the above transactions? What is your advice?

Thank you for your video. That is very helpful. A corporate trustee is a legal owner of the assets that are held by the trading trust, is that right? I am wondering who should prepare the financial statements? Do both corporate trustee (a company) and trading trust have to prepare their own financial statements respectively? What is your advice?

Can sole traders also do this? I'm looking to buy a second hand ute between $40-50k before the end of June to make the most of this. If I've made $100k gross income am i able to do this?

Just found your channel, good videos, thank you

Thanks Pat. It's a little like asking me whether I want to take a lump sum Lotto win or over the next 10 years when I'm already 70 yo! LOL

From the first to the last part of this video, you shared powerful messages!

I brought a truck 85k can I write that off

how does tax deduction on expenses work? would it also be 50/50?

Hi, thank you for your video. If the business structure is the trust, will it cause trouble with Div 7A? What happens if the money is transferred from the trust account to the beneficiary's personal account? will it cause Div 7A issues? or can individual beneficiaries transfer money freely from the trust account to their personal account?

Nice content. So for the company setup, who owns the company eg the shareholder structure?

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Hi Patt, I have a question for you. We are looking at establishing this trust structure for our new business. How do you structure share ownership of the corporate trustee company? In this example, of Living Pets Pty Ltd, does the Smith Family Trust non-beneficially own 100% of the shares or are the shares in Living Pets Pty Ltd owned by Mum/Dad in the example? - Matt

Thanks Pat. Yes about time some of these "dodgies" were held accountable. (Swapping first names for last names, wife as directors etc) Hopefully it might bring down all the indirect costs associated with it.

Hi Pat, I'm thinking about retiring from PAYG and starting up a new business. Can you claim TFE on a brand new business/start-up and claim this?

Does it have to be a 50/50 split for a unit trust. What if it's just one family trust? What would you recommend?

YOU ROCK

Thank you, very informative

Hi mate would this structure work for a sole trader who is a medical practice?

This wouldn't work for someone who is single with no kids though correct? What advice would you give to someone in that position (who has no intention of starting a family) ?

Richmond supporter? 😉

Installment doesn’t make any sense. Why would you pay tax on profit you haven’t made? I could have achieved much more without paying 10K installment. I will pay when next year comes, I don’t think Inland Revenue gonna reduce my tax liability for next year, if my current year is a loss.

This is very well explained sir. Thanks.

Would love to hear more about tax residency rules

How's the budget fair for renewables and Universities? Terrible.

Are you able to set up a discretionary trust unencumbered?

What a champ!

how do you get the profit out of the company? A dividend, even with the franking credit, will still be taxed at the marginal personal tax rate.

0:13 If you are from USA, Canada, Australia, NZ, or EU I will setup your blog and setup it to earn money w h a t s a p p +7 9 6 7 1 5 7 0 5 8 1

3. Victorian Grant was all bullshit. Didn't get a cent.

Talk to the government, tell them it's all fake

thanks this video was really insightful. whats the best way to get in touch with tax champion?

At 4.13 mins he sounds like chopper. Great vids. Got grad jobs?

good video mate

3 million are on keepjobber

The intro starts off well with a promise of explaining what Dov 7a is about, but after that the example is not clearly explained in enough detail. You also don't mention which country Div 7a is applicable for.

Nice Video, thanks for sharing.

But as u said they have already sold their business, so how can they continue to pay themselves a dividend from that business?

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Thanks Pat, very informative. Will the 50% discount for PAYG be applicable for self-employed?

Hi Patt I got some questions and I hope that you could help me to clarify them. 1, In this structure, we have a non-trading company Living Pet PTY LTD as trustee of Family Trust, whereas Smith Family Trust is responsible for business trading and tax matters (ABN,GST). However, I feel confused about the name in ABN lookup. In ABN Lookup, the Entity name of Family Trusts is always "Trustee of xxx family trust". Doesn't the trustee of family trust refer to the company itself? 2, In the real world, all the capital pruchases and expenses etc relating to this business are under the company name or trust name ? I wonder what is the name under the utility, rent other invocies. I guess they should go under the trust and its ABN? Regards Jack

lovely content