hi guys,
looking for opinions
we currently have one ip (in husband’s name) and am just about to purchase our ppor (in both names).
is there any point in structuring these 2 properties in a manner different to above? our plan is to live in the ppor for up to 3 years and then rent it out if viable. for that reason we intend to get a maximum lend IO only loan and drop all our money into a linked offset account. that way we can make the property tax deductible at a later stage.
been hearing a lot about trusts lately and wondering if it should/could apply here. something about the IP being converted under a trust and lending the trustee money to buy the ppor making the whole amount lent tax deductible.
all thoughts appreciated
julie
Hello Julie
If you are only intending to live in the property for a sort time and then rent it out, it may be an idea to consider purchasing it thru a trust structure and then renting it off the trust.
However there are a lot of things to consider. eg if you purchase in your own names and then move out later on, it may still be possible to sell CGT for a period of up to 6 years.
Better talk to your accountant about scenarios
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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