When the husband works and the wife is not working (home duties) and in order to receive the maximum tax benefits from negative gearing it would be the husband who would only need go on title as mortgagor while both the husband and wife can go on as borrowers.
Is this correct ? Please advise ?
no, don't think so.
Tax deductibility depends on ownership. look at http://www.bantacs.com.au. House can be owned jointly by both with salary sacrificing allowing the higher income earner to save more tax while also allowing the CG to be split according to ownership.
If you just buy in the higher income earner's name then you may save a bit of tax now but pay huge CGT later
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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