FAQ 47 Do deals which are posted on the forum require due diligence?
Guys, The forum is an excellent way to network with fellow Ultimate members. Members often come across deals in many parts of the country. These…
Category: FAQ
FAQ 48 – Can I rent from a trust where I am a beneficiary and claim normal rental expenses.
There is an ATO ruling regarding this issue. http://www.ato.gov.au/rba/content/?ffi=/misc/rba/content/83291.htm http://law.ato.gov.au/atolaw/view.htm?DocID=ITR/IT2167/NAT/ATO/00001 There are also a number of posts on the web one of which. http://www.bantacs.com.au/QandA/index.php?xq=233 http://www.bantacs.com.au/QandA/index.php?xq=226…
FAQ 49 What is due diligence? Is there a checklist?
Due Dilligence is very much a personalized activity. It is about GATHERING facts and numbers about a property in order to make an assessment of…
FAQ 50 Where can I find a booklet for renovating on the website?
There is no booklet on renovation on the website. There is however an extensive checklist available at the rear of the 3 day bootcamp manual…
FAQ 51 How are trust profits taxed
A trust ordinarily does not pay tax. It only pays tax on the funds that it fails to distribute. It is the beneficiaries/ associated entities…
FAQ 52 How do I update my profile on the Ultimate website
Hello Guys We are constantly looking at ways to improve the level of service we provide to the Ultimate members. One way would be take the Ultimate…
FAQ 53 – How do I save the Dymphna online books to my iPad
The books that are in pdf format can be saved to your ipad by following these instructions 1. Install iBooks onto your ipad by going…
FAQ 54 How do I work out if a property is Cash Flow Positive? – Rule of 2
Hello Students, It is very important to understand this process. Like any business there is a requirement to know if the property is making or will…
FAQ 55 What are the steps needed to set up a Trustee/Trust
IT IS RECOMMENDED THAT A TRUST OWNS A SINGLE PROPERTY FOR ASSET PROTECTION REASONS. IT IS FURTHER RECOMMENDED TO HAVE A SEPARATE TRUSTEE FOR…
FAQ 56 What should I consider when using an offset account
The following is applicable to offset accounts set against personal debt ( PPR loans) The major consideration is the future use of the funds held…