Forum Replies Created

  • Juan

    Member
    October 17, 2023 at 1:00 pm in reply to: Trusts and Loans

    Yes that was also my plan.

    Thank you again.

  • Juan

    Member
    February 13, 2024 at 2:30 pm in reply to: $500 Fine in coming after Non Consent in Court

    I’m from Melbourne, I did the “Non Consent” process that Mark teaches. Rather than striking out the charges the Mag has decided on a $500 fine. Which I did not consent to.

  • Juan

    Member
    October 17, 2023 at 11:27 am in reply to: Trusts and Loans

    Thank you for the answer.

    I should explain my situation in a little more depth.

    I am 21 and in the process of opening up a trust account. I will receive my productivity of labour (base + commission) via invoice to my business partner/employer which would then go straight into my trust account, therefore I am not obligated to complete a tax return each financial year.

    So in the future if i was looking to obtain a loan as the trustee, I would have no tax returns in my name to show the bank during the loan process. Which I would assume they need when taking out a loan.

    I do not have any other assets that i would be able to use as collateral.

    If i can still obtain a loan, i am wondering how?

    If not, what is a way i can work around the process? potentially receive portion of money into public and portion of money into private, just to show i am earning something?

    Thank you in advance.