@Kay Lakshmi Cruse Yeah I’m not normally a happy clappy hugging type but I don’t think Peters meets are like that. I’ve been to property meets in the past where they try to get you fired up shouting, clapping and hugging the stranger next to you. That made my shit itch and had to go to the bar till they get on with the business stuff

@Kay Lakshmi Cruse Yeah that’s the one- like being on some corporate team building exercise with a room full of murderers

Thank you Peter 👌

B&G 👌👍❤️

@Melanie Lambert That’s great advice thanks 🙏

@Melanie Lambert I put my property portfolio into my trust and me and my wife manage the portfolio for the trust. We take the rent and maintain the properties for the trust and anything left is ours. But due to recent tax laws we can’t offset the mortgage interest against income only 20% of the mortgage is allowed to be offset so the tax burden is a lot higher. I am setting up a PMA where me and my wife are members and will take a donation every month from the rental income for managing and any maintenance on the properties thus significantly reducing the tax burden on the rental income. I don’t think a sub trust would be needed in this set up but I will question the bot on what documents required to put the PMA in the trust.

There are different camps on this from what I hear. I’m of the opinion that I don’t owe CG tax on an asset I don’t own