Ed Chans new Property Investment Trust

Discussion in 'Accounting & Tax' started by seaview, 23rd Feb, 2007.

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  1. seaview

    seaview Well-Known Member

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    Hi,
    I just heard that Ed Chan and associates have come up with another PIT. This one is said to offer land tax exemption and avoids compulsory wind up of trust after 80 years. It also contains wording which excludes it from adverse government changes in the future. :mad:
    Has anyone heard more details about this? It sounds just great, but we will wait to see if this one lasts longer than the last one.
    Cheers
    Seaview
     
    seaview, 23rd Feb, 2007
    #1
  2. jscott

    jscott Well-Known Member

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    Tha last one (PIT) is stil alive and working well... I think the only thing that went wrong was that you couldn't get out of land tax in NSW due to some government changes.
     
    jscott, 23rd Feb, 2007
    #2
  3. Glebe

    Glebe Well-Known Member

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    Seaview,

    No need for all the capital letters mate. It comes across as though you're shouting. ;)

    Glebe.
     
    Glebe, 24th Feb, 2007
    #3
  4. Simon Hampel

    Simon Hampel Founder Staff Member

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    (I fixed the title)
     
    Simon Hampel, 24th Feb, 2007
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  5. jeddi

    jeddi Member

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    All I heard about it was what he said last Wednesday night on the teleseminar. Exactly what you have said in that the major improvements were the "no 80 year windup", "land tax thresholds" apply and the fact that it was "impervious to future government rulings".

    I understand that it will be available from March this year and from all accounts looks to be a really good trust.
     
    jeddi, 25th Feb, 2007
    #5
  6. Julia

    Julia Active Member

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    Julia, 27th Feb, 2007
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  7. markstan

    markstan Member

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    Property Investment Trusts

    Great book by the guys but One huge concern from my point of view.

    Think about it from thr ATO workers perspective. Cardigan office workers on 40k a year getting jealous seeing the authors making millions and on the Top 10 list at major bookstores....

    A matter of time for a test case? The ATO can use Part IVA or test cases anytime they like....

    Any thoughts?
     
    markstan, 26th Apr, 2007
    #7
  8. Nigel Ward

    Nigel Ward Well-Known Member

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    There's an article in todays AFR in which the Tax Inspector General has again slammed the ATO for taking a win at all costs attitude, being non-responsive and evasive about whether or not they've changed their tune on service trusts (a different issue admittedly). :eek:

    So...who knows?! ;)
     
    Nigel Ward, 26th Apr, 2007
    #8
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