I am looking at ways to structure my affairs so that it is beneficial to my family of 4 . Wife and I are in 30 and 33% tax brackets with a UNI/high school attending children
I have approached my CA who suggested I sell my shares to a Trust but unsure which entity should I use if I purchase more properties, possibly a development or a reno for buy and hold , potentially slightly negative.
Current have a couple of properties in LTC with no mortgage as we advanced money to pay debt off. We are looking to grow our portfolio when an opportunity arises.
1. If I sell my LTC shares to a Trust, does this Trust has to be different to a Family Trust if we use the equity from our home?
2. Can The new trust charge interest to funds that has been advanced to the LTC to pay off debt? I have a large shareholders fund in the LTC, (loans paid off) if this money is owned to a trust , trust then charges interest to the LTC, is the interest deductible?
I have approached my CA who suggested I sell my shares to a Trust but unsure which entity should I use if I purchase more properties, possibly a development or a reno for buy and hold , potentially slightly negative.
Current have a couple of properties in LTC with no mortgage as we advanced money to pay debt off. We are looking to grow our portfolio when an opportunity arises.
1. If I sell my LTC shares to a Trust, does this Trust has to be different to a Family Trust if we use the equity from our home?
2. Can The new trust charge interest to funds that has been advanced to the LTC to pay off debt? I have a large shareholders fund in the LTC, (loans paid off) if this money is owned to a trust , trust then charges interest to the LTC, is the interest deductible?
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