They don’t tell you this, so the society stays in the rat race, or potentially they actually don’t know it. Words of Robert kiyosaki founder of rich dad poor dad.
In this video you say that the trust doesn't pay tax and doesn't trade, but in my text book it mentions that a trust can run with the profit motive. Please explain.
Hi McMillan,, if you watch again, i'm referring the the trustee company of the family trust not trading on its own, as opposed to what we would call a trading company, which is what has been drawn on the left side of the whiteboard. Your text book is right, trusts can operate to make a profit... and so they should! Hope this helps clarify
Okay now that all the stuff has been explained one of the biggest questions I have is that none of this is actually possible without investors and what they call huge amounts of money, possibly this will never become a reality for me so just watching this is like buying lotto tickets not much of a possibility of happening
Hey Michael, not everyone has heaps of capital to start a company and that's fine! If you really wanted to you could start up your own company for around 1k and then just borrow your initial capital if you already know how much you need to spend to get it up and running. Depending on the type of business you would like to run, becoming a sole trader could also be an option. In that case, it's just a matter of getting an ABN which takes about 10 mins and costs less than $100 and your good to go
Lenny Cooper hey Lenny I already know and have been in buisness automotive buisness which require huge investment GOT IT, in the way the system is here in Australia in automotive it is fantasy you can start a buisness with no money, as is the case with mining companies anything of high resource without capital investment you are sunk and that’s reality, if you have a birthday card buisness then you can start it with nothing however if you talk big buisness you have not got the money you won’t survive , been there done that, nice fantasy you have mate but not real !
Amazing presentation and very simple to understand. Which city/ country your practice is located in ? Also, if you put your contact info and address on the description of your channel it will be easier for us to contact you. Thanks
Re - family trust structure
You failed to mention having a bucket company as a beneficiary to avoid the potential highest tax bracket beneficiary.
They don’t tell you this, so the society stays in the rat race, or potentially they actually don’t know it. Words of Robert kiyosaki founder of rich dad poor dad.
mad presentation brother thankyou man
In this video you say that the trust doesn't pay tax and doesn't trade, but in my text book it mentions that a trust can run with the profit motive. Please explain.
McMillan Kaputjaza p
Hi McMillan,, if you watch again, i'm referring the the trustee company of the family trust not trading on its own, as opposed to what we would call a trading company, which is what has been drawn on the left side of the whiteboard.
Your text book is right, trusts can operate to make a profit... and so they should! Hope this helps clarify
Okay now that all the stuff has been explained one of the biggest questions I have is that none of this is actually possible without investors and what they call huge amounts of money, possibly this will never become a reality for me so just watching this is like buying lotto tickets not much of a possibility of happening
Hey Michael, not everyone has heaps of capital to start a company and that's fine! If you really wanted to you could start up your own company for around 1k and then just borrow your initial capital if you already know how much you need to spend to get it up and running. Depending on the type of business you would like to run, becoming a sole trader could also be an option. In that case, it's just a matter of getting an ABN which takes about 10 mins and costs less than $100 and your good to go
Lenny Cooper hey Lenny I already know and have been in buisness automotive buisness which require huge investment GOT IT, in the way the system is here in Australia in automotive it is fantasy you can start a buisness with no money, as is the case with mining companies anything of high resource without capital investment you are sunk and that’s reality, if you have a birthday card buisness then you can start it with nothing however if you talk big buisness you have not got the money you won’t survive , been there done that, nice fantasy you have mate but not real !
Amazing presentation and very simple to understand.
Which city/ country your practice is located in ?
Also, if you put your contact info and address on the description of your channel it will be easier for us to contact you.
Thanks
How can i contact you to discuss setting up a new company?
You are handsome. I would like to know more about asset protection.