I am selling a property to fund a year off to study (learning to trade [which this forum is a great help] and doing a masters so I have something concrete to show for the year) and am considering whether or not putting the money in a Trust (or company structure/whatever) would be the best way forward?
I thought there would/could be these advantages:
1. I can trade and put my profits (hopefully) back into the trust and draw a next to nothing wage and therfore could receive the equivalent to Austudy (I know I should be able to make that trading anyways - but a smart person isn't going to say no to 'free' money). i.e. If I keep the 100K I will clear from the house in my name I would fail the assets test - if I put it in a trust/company setup it might get around it?
2. (I know this sounds bad but) Protection from partner splitting up and getting hands on my lifes savings. I dont want to go into specifics as I dont think this is going to be an issue for me, but I'm smart enough to look around see a lot of people that _had_ that idea too, so it doesn't hurt to be prepared. But I always thought they had changed things such that if you were to split up you need a swiss bank account or something as they get it out of you anyways (i.e. trust funds aren't the security that they used to be).
This is all I know so far. I remember when I bought my 2nd property people mentioning it to me and it being too late as the property was already in my name (and hence I would have to 'sell' it to the trust and incur CGT). Since I am freeing up this capital I was wondering if it would be smart this time to get it out of my name and into some form of structure?
All opinions and experience welcome
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