- Fudge111Broz00Participant@fudge111broz00Join Date: 2003Post Count: 245
Hello property investors,
I have a question as someone who is still learning the ropes.
If my wife and I invested in an IP and the loan was securedundern both our incomes is there any way that the negative gearing can be applied to one income and then the capital gain after sale be applied to the other income.
Or are the rules that whichever income was used for the negative gearing tax deductions must also be the same income that the capital gain is applied to once it is sold.
Thank you for your help,
fudge111Fudge111Broz00Participant@fudge111broz00Join Date: 2003Post Count: 245
I guess what I am trying to learn about is if there is advantages in a joint loan scenario and whether what I have said above is illegal or legal?TerrywParticipant@terrywJoin Date: 2001Post Count: 16,213
Yez. Buy it in the name where you want the income to lie
Generallynot a good idea to have joint loans if you can avoid it.