Say if my wife and I were to buy an off the plan ip at a 30/70 split, do I have to state this when signing the contract? Or can I change this a few months after putting an or nominee?
State when buying.
Specify either buying as Tenants in Common with the split 30/70
or
Set up a Trust structure and buy from the trust and then define the split in the discretionary trust. This method may not allow negative gearing a hybrid trust may be required for negative gearing but you need to check with an accountant as special rulings from tax department mean it has to be set up correctly to be able to negative gear it.If you change it later stamp duty may be incurred.
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