Aussie Firebug

Financial Independence Retire Early



Today I’m speaking with Terry Waugh who you may know as TerryW from his online legal and tax tips. Terry is admitted as both a solicitor and barrister to the Supreme Court of NSW as well as the High Court of Australia and holds specialist qualifications as a Chartered Tax Adviser. He operates as a lawyer specialising in tax, estate planning, asset protection, and trusts for property and share investors.

Some of the topics in today’s episode include:

  • What structuring options do investors have when owning or controlling assets – specifically property and shares? (05:22)
  • Land tax – when is it relevant to property investors? (08:34)
  • Do many people invest through a company and what are the benefits of doing so? (10:43)
  • What trust structures work best for property and share investors? (13:40)
  • What is a trust, how do they work and how do investors benefit from trust structures? (15:44)
  • What are discretionary trusts and why are they so commonly used? (19:05)
  • What are the main pros and cons of using a trust structure and when does it make sense to use one? (20:49)
  • How does a trust structure protect your assets? (25:20)
  • How do distributions work when investing through a trust? (27:10)
  • Who can pay money into a trust and how does that work? (29:42)
  • When does it make financial sense to set up a trust? (34:38)
  • How much do trusts cost to set up and to keep running? (35:34)
  • What is a bucket company and why would anyone use it? (36:14)
  • Terryw’s Tax Tip #14 – Never park money in a loan – why avoiding mixed purpose loans is so important. (40:09)
  • How to set up and execute a debt recycling strategy in 2021. (42:54)
  • Are testamentary discretionary trusts a good option for preserving wealth for your kids? (47:49)
  • Why Terry thinks that a testamentary discretionary trust is the ultimate structure. (50:00)
  • Buying an investment property through a company structure. (54:06)
  • Protecting your own assets when entering a new personal relationship. (55:34)
  • Who is the best person to see for investment structuring advice – a lawyer, accountant or financial adviser? (01:00:12)



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