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.
@@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.
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
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?
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!
@@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
oh man i got a headache trying to comprehend from someone with broken english explaining and also what was the point of the dude being there at the start ... he would of done a better job🥲
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.
Is this land value total that can be spread across multiple properties or a single property only?
@@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.
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
Glad it was helpful!
Thank you. An Australian channel that talks business. I can relate too. 😊
You guys are awesome. Thanks for doing all this.
Thanks for watching!
Excellent video thank you! Will share with family members.
Please do, Kerin. Glad you got something out of this!
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
Thanks Thanh, you always had the crush. Just approach him and be honest!
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?
Yes
great video! thanks!
Nice one guys!🎉
Can the Trustee(s) themselves also be their own beneficiary?
Discretionary Trusts still have PSI rules applicable?
Yes if you earn PSI income
Does the split income work for TFN income as well, or does it have to be business or other income?
Brilliant
Thanks for watching, Dee!
How to open family trust
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!
If i am the trustee , can my creditors come after the trust assets?
Best to speak to a lawyer about this
I really need help for this , can I buy property without business??
ofcourse you can, the only thing that will stop you will be coming up with the money via cash/loan
Could I open a trust and buy a property under that trust and rent it out to myself? 🤔🤔🤔
you can, but then you will have to pay income tax on the rental income?
Why tf would you wanna do that
@@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
Mate u can do whatever u like the world is your oyster
Can you feature Molly in more of your videos? She is pretty cute.
oh man i got a headache trying to comprehend from someone with broken english explaining and also what was the point of the dude being there at the start ... he would of done a better job🥲
Sorry to hear of your experience, I thought she did a good job
What ? She was awesome. Good English with a slight accent.