PropertyInvesting.com | Terryw | Activity https://www.propertyinvesting.com/members/terryw/activity/ Activity feed for Terryw. Thu, 06 Nov 2025 10:25:45 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 1fc214d9e4a12f28847358e17c107a57 Terryw replied to the topic Inception Wealth Group and ModeSMSF in the forum Heads Up! https://www.propertyinvesting.com/topic/5037785-inception-wealth-group-and-modesmsf/#post-5115212 Sat, 04 Oct 2025 12:07:26 +0000 Are they licenced? i.e. do they have an AFSL?

 

If not then stay clear, and report them to ASIC.

 

Did they approach you or did you approach them? I would never use a company that approached me, especially about financial matters.

]]> bc2551814942b89f4f32fd07cb2dfabf Terryw replied to the topic Second mortgages and caveats in the forum Finance https://www.propertyinvesting.com/topic/5032567-second-mortgages-and-caveats/#post-5106799 Thu, 07 Aug 2025 02:39:44 +0000 caveats are used to show others that someone else has an equitable interest in the property. A legal interest is one recorded on title such as a registered second mortgage. This would be a legal interest.

A second mortgage could also be unregistered, it would then be an equitable interest. A caveat could be lodged, potentially, over the property…[Read more]

]]> 365474d33f7ec74109581e0737d4e307 Terryw replied to the topic Mortgages in a company/trust structure in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5087290-mortgages-in-a-companytrust-structure/#post-5106798 Thu, 07 Aug 2025 02:35:35 +0000 If a trust ‘gets’ a loan it will be the trustee that borrows. Where there is a company as trustee the company will be the borrower with the directors as guarantors of the loan.

 

If the directors set up Company B for the next purchase (whether it acts as trustee or not) it will borrow. The debts of Company A are no able to be counted as debts of…[Read more]

]]> 47a720b0ffb6d53dc68d6750f1a3df3b Terryw replied to the topic Did Your Mortgage Broker Explain the Tax Traps of Redraw vs Offset? in the forum Finance https://www.propertyinvesting.com/topic/5106752-did-your-mortgage-broker-explain-the-tax-traps-of-redraw-vs-offset/#post-5106797 Thu, 07 Aug 2025 02:31:29 +0000 Brokers generally are not licenced to give tax advice so you can’t expect them to explain tax issues. Most run around saying ‘its the same thing’ and not understanding the tax issues. But it would be a good idea for them to suggest going to get tax advice before lodging the applciation.

 

Keep in mind too that a mortgage is different to a loan.…[Read more]

]]> 1a518bcb6c359d75c03772ad4917ec32 Terryw replied to the topic Chan & Naylor trust and now can't get finance in the forum Help Needed! https://www.propertyinvesting.com/topic/4405265-chan-naylor-trust-and-now-cant-get-finance/#post-5106796 Thu, 07 Aug 2025 02:26:29 +0000 The issue is likely to be that the borrower of the loan is going to be different to the mortgagor of the property.

e.g. Trust Co Pty Ltd owns the property, as trustee, but Homer needs to be the borrower so he can claim the interest on the loan that he has used to acquire units in the trust.

The owner Trust Co Pty Ltd is the mortgagor. Homer…[Read more]

]]> bd5f1cb5df7141f0cd5895932ec2aa79 Terryw replied to the topic Had a conversation with my tax accountant about Melbourne property in the forum Help Needed! https://www.propertyinvesting.com/topic/5039607-had-a-conversation-with-my-tax-accountant-about-melbourne-property/#post-5106795 Thu, 07 Aug 2025 02:19:40 +0000 No potential to claim the main residence CGT exemption on mere intention to live in a property without actually doing so.

]]> 4d9850c8bccffb41bdc0d7dda1008447 Terryw replied to the topic Company title in the forum Help Needed! https://www.propertyinvesting.com/topic/5100075-company-title-2/#post-5100129 Wed, 04 Sep 2024 15:53:02 +0000 harder to finance means harder to sell generally.

]]> 34e8f94229d33f5a911b9dad0131ff6f Terryw replied to the topic A Guide To Land tax in 2024 in the forum General Property https://www.propertyinvesting.com/topic/5099516-a-guide-to-land-tax-in-2024/#post-5099828 Sat, 06 Jul 2024 09:57:30 +0000 There is some inaccuracies in your post so best to seek legal advice on land tax specific to your situation

]]> e07257c9110a86e533af502ae1f715dd Terryw replied to the topic Jan Somers - Building Wealth in the forum General Property https://www.propertyinvesting.com/topic/4400983-jan-somers-building-wealth/#post-5099827 Sat, 06 Jul 2024 09:54:33 +0000 Oh i just realised that first post was written in 2010 so 14 years ago!

]]> f52c12c053e7be63f795e696024862ae Terryw replied to the topic Jan Somers - Building Wealth in the forum General Property https://www.propertyinvesting.com/topic/4400983-jan-somers-building-wealth/#post-5099826 Sat, 06 Jul 2024 09:52:28 +0000 Google tells me the medican is around $933,000 as of sept 2023 so she was not that far off.

 

Keep in mind they were predictions

]]> eac556bb64fa2074d2b33211d0b39bf2 Terryw replied to the topic Land Tax - State Revenue Office in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5099028-land-tax-state-revenue-office/#post-5099514 Mon, 10 Jun 2024 15:32:02 +0000 Borrow to pay it is one option.

Did you do some planning before purchase so you could minimise land tax?

]]> 2a4c0f71a037fbab58b4d01bba4373bd Terryw replied to the topic Financial Advice in the forum Help Needed! https://www.propertyinvesting.com/topic/5099265-financial-advice-9/#post-5099513 Mon, 10 Jun 2024 15:28:39 +0000 Financial advice is advice on a financial product. Property isn’t a financial product so you likely need finance and tax advice based on what you have written.

]]> f0dde8e353c6082c8b743589c8b5b2a4 Terryw replied to the topic Investment properties just went negative cash flow, weather the storm or sell? in the forum Help Needed! https://www.propertyinvesting.com/topic/5095679-investment-properties-just-went-negative-cash-flow-weather-the-storm-or-sell/#post-5095701 Sat, 13 Apr 2024 08:50:09 +0000 If you sell you will likely pay CGT and will loose future capital growth. You would also be up for agents fees and if you later buy something else more stamp duty.

 

Do you guestimate they will be growing more than they are costing you? if so it might be worth holding. ALso have to factor in the opportunity cost of having the money tied it, the…[Read more]

]]> e894722b77c411c1751c065a60121c73 Terryw replied to the topic Buying primary residence in the forum Finance https://www.propertyinvesting.com/topic/5094866-buying-primary-residence/#post-5095700 Sat, 13 Apr 2024 08:46:00 +0000 If the house is being used as security it would require a joint loan with both of you as borrowers, or 2 loans with each guaranteeing the other’s loan. Your income isn’t mentioned, but together you might be able to qualify.

Best to seek legal advice before purchase and consider entering into a deed of partition so the titles can be transferred…[Read more]

]]> 3a40186b06cbe04bc7d8181ab389fe0e Terryw replied to the topic CGT, 6 year rule and two properties sold in same FY in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5090942-cgt-6-year-rule-and-two-properties-sold-in-same-fy/#post-5095699 Sat, 13 Apr 2024 08:42:42 +0000 There should be no need for a private ruling for a question like this. basic tax advice should be enough.

]]> 579bc65d85867b1f109f48c6335a1e03 Terryw replied to the topic To Trust or not to Trust! in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5088820-to-trust-or-not-to-trust-8/#post-5094816 Thu, 28 Mar 2024 15:24:44 +0000 1, Trust in NSW, but not true for most other states

2. Not true

3. Yes – a little ASIC fee plus tax returns

4 yes

5. trusts can negative gear like any taxpayer.

]]> 221c3d84a150e846df46f5d0fe9f16e8 Terryw replied to the topic To Trust or not to Trust! in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5088820-to-trust-or-not-to-trust-8/#post-5094815 Thu, 28 Mar 2024 15:21:57 +0000 I am a trust lawyer and mortgage broker of 24 years and you have misunderstood a few things here.
A trust cannot borrow as its not a legal entity, just a relationship. It is the trustee that borrows. If hte trustee is a company the loan will be taken out by the company with the director giving a personal guarantee. that means it is not a debt of…[Read more]

]]> aaf24f19b0d766bd2bc260923aa0c1c7 Terryw replied to the topic CGT, 6 year rule and two properties sold in same FY in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5090942-cgt-6-year-rule-and-two-properties-sold-in-same-fy/#post-5094814 Thu, 28 Mar 2024 15:17:05 +0000 Not enough info to know for sure, but it could potentially be the case that PPOR 1 could be claimed as the main residence for the whole period because of s118-145 ITAA97

 

6 year rule can apply even if you do buy another main residence- but you can’t claim the exemption on both for the overlapping period

]]> 8ea52dbf4cabfc2a717298010b347bc9 Terryw replied to the topic Depreciation inside a Family Trust in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5093082-depreciation-inside-a-family-trust/#post-5094813 Thu, 28 Mar 2024 15:13:43 +0000 If the trust’s income is going to be less than the tax free threshold there may be no tax benefit for the trust to claim depreciation. but it would still be added back to the cost base on sale, but there is an exception to this if the taxpayer doesnt know what the depreciation values are so the trust shouldn’t get a depreciation schedule if it…[Read more]

]]> 791511b562edd5ad8ec312fb30c273ae Terryw replied to the topic Distribute Income from Trusts to minors? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5093236-distriubute-income-from-trusts-to-minors/#post-5094812 Thu, 28 Mar 2024 15:09:19 +0000  

You shouldn’t be paying off trust properties as that will create legal issues. You could gift the trust (the trustee) money or lend it money which it can store in its offset account or pay off the loan. Either will decrease the expenses and mean the trust will have a larger taxable income so it could result in more tax.

 

2. The trustee…[Read more]

]]> cbcd8a4f11d8d173c13153b7f917e44f Terryw replied to the topic Subdivison of PPOR - Tax Implications in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5093667-subdivison-of-ppor-tax-implications/#post-5094811 Thu, 28 Mar 2024 15:05:30 +0000 You need to apportion the cost base expenses between the 2 blocks and the best way to do that is to instruct a valuer to do it. The other block has a house on it so it cant be worked out on an area basis. Your valuation would be done as of the date of purchase. Main residence exemption can’t be used on vacant land and can only apply to 2 acres anyway

]]> 52f24c74f2eecc13aceb5463132b0b19 Terryw replied to the topic Issue after settlement - vendor not responding in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5093732-issue-after-settlement-vendor-not-responding/#post-5094810 Thu, 28 Mar 2024 15:02:54 +0000 the contract ended at settlement so they are unlikely to be under any obligation to asset.

]]> 43e5151df318a40c49a27678bff7dd5b Terryw replied to the topic My PTY LTD renting property from my trust in the forum Help Needed! https://www.propertyinvesting.com/topic/5093860-my-pty-ltd-renting-property-from-my-trust/#post-5094809 Thu, 28 Mar 2024 14:59:33 +0000 The trustee would need an express power in the trust deed to rent to a beneficiary.

But if the trustee as the same company you are referred to? There is a common law rule against contracting with yourself, even in different capacities. but the ATO seems to allow it for tax purposes. Best to seek legal advice

]]> a1fe5351690b5a7b669aad054d58bae5 Terryw replied to the topic Finding an Accountant for Trust Structure in the forum Help Needed! https://www.propertyinvesting.com/topic/5089633-finding-an-accountant-for-trust-structure/#post-5090630 Tue, 22 Aug 2023 14:46:55 +0000 Why an accountant? Trusts are legal relationships so you are best off with a solicitor to explain, but if you are after advice on borrowing capacity they will need a credit licence as well so you would need a broker for this.

]]> ea2272fae085653483c7478024bc53bc Terryw replied to the topic Can trusts increase burrowing capacity? in the forum Finance https://www.propertyinvesting.com/topic/5071060-can-trusts-increase-burrowing-capacity/#post-5090629 Tue, 22 Aug 2023 14:44:36 +0000 An asset held by a trustee of a discretionary trust is not an asset that you own, so it is the same as paying off someone else’s loan. It has various consequences so best to seek legal advice. One strategy might be to lend your cash interest free to the trustee instead and let them pay off the loan with the loan from you. Another may be to gift to…[Read more]

]]> a5f15180b69d97679d612c96e1b19026 Terryw replied to the topic Purchasing a property using a trust in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5084507-purchasing-a-property-using-a-trust/#post-5087306 Wed, 15 Mar 2023 06:19:35 +0000 A company cannot own a trust. A company might be acting as trustee for a discretionary trust. The company would own the property, the company would be the borrower with the director of the borrower giving a personal guarantee. The lender would want the company to enter into the contract as trustee of the trust and have a right of indemnity out…[Read more]

]]> 6587a65bb076148aa1ef9518e3c6b09e Terryw replied to the topic Struggling to understand asset protection provided by a trust in the forum Help Needed! https://www.propertyinvesting.com/topic/5084537-struggling-to-understand-asset-protection-provided-by-a-trust/#post-5087305 Wed, 15 Mar 2023 06:15:27 +0000 It doesn’t matter what an accountant says as this would require legal advice.

 

This might be taken out of context or is a bit vague. First what are you trying to protection the property from? Creditors on bankruptcy? A trustee of a discretionary trust can still hold a property and let a beneficiary use it, perhaps rent free, if they have…[Read more]

]]> 2cb250779b5bf9c5c43a839fa351afe8 Terryw replied to the topic Struggling to understand asset protection provided by a trust in the forum Help Needed! https://www.propertyinvesting.com/topic/5084537-struggling-to-understand-asset-protection-provided-by-a-trust/#post-5087305 Wed, 15 Mar 2023 06:15:27 +0000 It doesn’t matter what an accountant says as this would require legal advice.

 

This might be taken out of context or is a bit vague. First what are you trying to protection the property from? Creditors on bankruptcy? A trustee of a discretionary trust can still hold a property and let a beneficiary use it, perhaps rent free, if they have…[Read more]

]]> 9474770a04b426396a9b8f44376cc260 Terryw replied to the topic Banks that do not consider a directors guarantee as a personal liability in the forum Help Needed! https://www.propertyinvesting.com/topic/5087047-banks-that-do-not-consider-a-directors-guarantee-as-a-personal-liability/#post-5087304 Wed, 15 Mar 2023 06:02:34 +0000 There are banks other than the big 4 – actually one is a big 4 – that will disregard personal guarantees if the borrower is self funded. It is just a contingent liability for the guarantor so they are only liable if the borrower defaults.

]]> 6c952bb24a0ff751d4087d975efeffde Terryw replied to the topic Personal guarantees in the forum Help Needed! https://www.propertyinvesting.com/topic/5087302-personal-guarantees-2/#post-5087303 Wed, 15 Mar 2023 05:50:52 +0000 There are none in Australia as far as I know

]]> 512c5d6aae803718990ecd06fef91984 Terryw replied to the topic Using trusts to never get ''maxed out borrowing capacity''. in the forum Help Needed! https://www.propertyinvesting.com/topic/5083677-using-trusts-to-never-get-maxed-out-borrowing-capacity/#post-5084415 Tue, 25 Oct 2022 05:23:12 +0000 If you are investing in personal names you would be paying the same interest rate, generally, as a corporate trustee would be.

]]> 904d2ede718cab59779541aa07dc0724 Terryw replied to the topic 2 dwellings on 1 block in the forum General Property https://www.propertyinvesting.com/topic/5084226-2-dwellings-on-1-block/#post-5084238 Mon, 03 Oct 2022 02:41:09 +0000 speak to a town planner to see if it is possible to do first.

]]> a6809774dfc351c54af7bdf15e25ae7c Terryw replied to the topic Using trusts to never get ''maxed out borrowing capacity''. in the forum Help Needed! https://www.propertyinvesting.com/topic/5083677-using-trusts-to-never-get-maxed-out-borrowing-capacity/#post-5084236 Sun, 02 Oct 2022 16:48:00 +0000 as a lawyer specialising on trusts I wish I could charge this much for advice on trusts.

 

This strategy works with companies – the company could be acting as a trustee or be acting in its personal capacity. i.e. a trust is optional – and in fact should be avoided in many cases due to the land tax laws.

]]> 5b7366bbdf94f1e21d8fe2affc6789eb Terryw replied to the topic To invest or pay down debt? in the forum Help Needed! https://www.propertyinvesting.com/topic/5083724-to-invest-or-pay-down-debt/#post-5084235 Sun, 02 Oct 2022 16:44:09 +0000 This doesn’t sound good to me. I think you should get some alternative tax advice – might be too late to fix things though.

 

At the very least it might be worth shifting the cash in the offset to the loan on your main residence and to break this fixed period.

You could also consider investing in a different entity, a more tax effective one,…[Read more]

]]> 463fef6d8c48978bd04bb545267348a2 Terryw replied to the topic To invest or pay down debt? in the forum Help Needed! https://www.propertyinvesting.com/topic/5083724-to-invest-or-pay-down-debt/#post-5084235 Sun, 02 Oct 2022 16:44:09 +0000 This doesn’t sound good to me. I think you should get some alternative tax advice – might be too late to fix things though.

 

At the very least it might be worth shifting the cash in the offset to the loan on your main residence and to break this fixed period.

You could also consider investing in a different entity, a more tax effective one,…[Read more]

]]> df447201bc912472cd891a88204648f5 Terryw replied to the topic To invest or pay down debt? in the forum Help Needed! https://www.propertyinvesting.com/topic/5083724-to-invest-or-pay-down-debt/#post-5084234 Sun, 02 Oct 2022 16:39:17 +0000 The answer will depend on the ownership structure for the existing properties as well as the business and the new investment. Plus your expectation on returns..

]]> de5146ed317e2eb13a64078af21785ff Terryw replied to the topic To invest or pay down debt? in the forum Help Needed! https://www.propertyinvesting.com/topic/5083724-to-invest-or-pay-down-debt/#post-5084234 Sun, 02 Oct 2022 16:39:17 +0000 The answer will depend on the ownership structure for the existing properties as well as the business and the new investment. Plus your expectation on returns..

]]> 6be0a4b04f2ad5ecd1c0514779ad2b76 Terryw replied to the topic What bank should I open my trust with? in the forum Help Needed! https://www.propertyinvesting.com/topic/5084135-what-bank-should-i-open-my-trust-with/#post-5084233 Sun, 02 Oct 2022 16:36:24 +0000 If the trustee is going to borrow money it might as well open an account at the same bank it gets its loan from – ideally an offset account.

]]> f2a916cd806afa26b1660957e4192c7c Terryw replied to the topic Draw equity from IP to fund PPOR purchase in the forum Finance https://www.propertyinvesting.com/topic/5084227-draw-equity-from-ip-to-fund-ppor-purchase/#post-5084232 Sun, 02 Oct 2022 16:33:51 +0000 You cannot take out equity, all you can do is borrow money. You can do this by using the property as security for a loan and borrow the deposit and stamp duty etc for the new property. But the interest will not be deductible because the deductibility is determined by the use of the borrowed money – which isn’t income producing in this case.

]]> 106335f9b40697a01f510ceda96ce06c Terryw replied to the topic I want to ask about the tax on the sale of the house. in the forum Opinionated! https://www.propertyinvesting.com/topic/5083030-i-want-to-ask-about-the-tax-on-the-sale-of-the-house/#post-5083610 Mon, 13 Jun 2022 23:02:27 +0000 They are statements not questions

but

1. No that is not correct

2. No that is not correct – loans have no bearing on CGT

]]> bba37c5fea4afe409d7c7213b24a884a Terryw replied to the topic CGT event and CGT Discount in the forum Help Needed! https://www.propertyinvesting.com/topic/5083472-cgt-event-and-cgt-discount/#post-5083609 Mon, 13 Jun 2022 22:59:27 +0000 It is generally the contract dates – but not always.

]]> 8094cf9454237483bdf569aa838b2def Terryw replied to the topic Renting SMSF property to EX Spouse. in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5081412-renting-smsf-property-to-ex-spouse/#post-5082312 Fri, 18 Feb 2022 03:51:59 +0000 It is possible, but something you should seek specific legal advice on.

]]> 26dd92b4772ae47cb2e37bc9e5716637 Terryw replied to the topic Capital Gains Tax query in the forum Help Needed! https://www.propertyinvesting.com/topic/5077869-capital-gains-tax-query-2/#post-5081395 Sat, 12 Feb 2022 09:26:27 +0000 Yes, it could be either

a) cost base reset to the value at date first income producing

or

b) above plus using the 6 year rule and apportioning.

 

seek tax advice

]]> 132480139695323fa5bfabbe59b9bc04 Terryw replied to the topic Lending leniency in the forum Finance https://www.propertyinvesting.com/topic/5076650-lending-leniency/#post-5077823 Sat, 25 Dec 2021 04:38:48 +0000 It will depend on the circumstances, such as, if PI or IO, what the expenses are, how long left on the loan, type of property, type of tenancy, yield etc

 

Assuming PI residential rate with minimum expenses it would probably neither improve nor decrease serviceability

]]> e0458c2ccaafe652abd9fbe31f47e03c Terryw's profile was updated https://www.propertyinvesting.com/activity/p/399723/ Wed, 15 Dec 2021 02:20:57 +0000 babb6f824a4c67610d5ba012dee52783 Terryw replied to the topic Is Sasha Hopkins & the A Team Property Group Legit? in the forum Heads Up! https://www.propertyinvesting.com/topic/5077675-is-sasha-hopkins-the-a-team-property-group-legit/#post-5077687 Thu, 09 Dec 2021 06:57:37 +0000 Didn’t a lot of investors recently lose large amounts of money by investing in companies related to this group?

]]> 9c4c9032d60f57b54bfd7ba84fbf51f5 Terryw replied to the topic Difference between being a guarantor to the loan and own the loan in the forum Help Needed! https://www.propertyinvesting.com/topic/5077599-difference-between-being-a-guarantor-to-the-loan-and-own-the-loan/#post-5077686 Thu, 09 Dec 2021 06:55:06 +0000 Steve, you have confused terms here or conflated ‘borrowers’ with ‘mortgagors’.

Mortgagor is the one who gives a mortgage

Borrower is the one who borrows the money

usually but not always they are the same

e.g husband owns the property and husband and wife go on the loan. Husband is the mortgagor and both are the borrowers.

You cannot be a…[Read more]

]]> f21d99022700ff0edbe6cb75979faa84 Terryw replied to the topic Difference between being a guarantor to the loan and own the loan in the forum Help Needed! https://www.propertyinvesting.com/topic/5077599-difference-between-being-a-guarantor-to-the-loan-and-own-the-loan/#post-5077603 Tue, 30 Nov 2021 10:55:27 +0000 Why would a ‘bank’ be interested in reading a link to an article?

 

What are you trying to show them? And Why?

]]> e6ce15c27a2212587324862cc9716868 Terryw replied to the topic Upgrading our PPOR but wanting to keep and Rent it out in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5077194-upgrading-our-ppor-but-wanting-to-keep-and-rent-it-out/#post-5077198 Thu, 04 Nov 2021 05:29:53 +0000 That can work out well in limited circumstances, but in these days of low interest rates the trust would soon make a profit on the property that it rents to you and that income would be taxable income where it otherwise wouldn’t had you bought in your own names. Also have to factor in land tax on trusts if buying in NSW and VIC, plus the estate…[Read more]

]]> 35e67bf4d6e3e7f61d7f3de2a5950c62 Terryw replied to the topic Conveyancer query in the forum Help Needed! https://www.propertyinvesting.com/topic/5077177-conveyancer-query/#post-5077183 Fri, 29 Oct 2021 02:18:08 +0000 Yes, a potential conflict of interest. What if something pops up with the property and it is something the buyer’s agent should have picked up or that they caused will the settlement agent tell you or down play it?

 

You should use a lawyer, a solicitor, to protect yourself and to get some legal advice as well as transferring title.

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