Hi there.
Currently after some advice and some fact gathering before I see a financial adviser.
I want to move out of my PPOR and rent it out and live in a new place. I owe about 48k on a free standing property worth $410 (can prob rent it for $450 per week). Looking to buy a townhouse or unit worth $500k.
whats the best way to structure the new loan to take advantage of any tax benefits? I currently earn $100k /y before tax.
also is there any benefit tax or otherwise to a family trust for the new PPOR?
cheers
Hi Papina,
I can't offer you any advice unfortunately but am in a very similar situation…. am more worried about CGT and not being able to claim interest as a deduction if we turn it in to a rental property…sold a previous rental last year and put it on the property unaware of the tax implications…can redraw 290K (we have basically paid it off)
Also our current PPOR is in my husbands name….do we put the new home in his name also or both?
Am interested to what anyone can offer to both our situations!
see my answer to Zara's post. https://www.propertyinvesting.com/forums/getting-technical/finance/4332871?#comment-214928
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
Hi Papina
I have just answered zara's other post and you might want to read this first as it covers the issue.
Richard Taylor | Australia's leading private lender
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