All Topics / Legal & Accounting / Maximum percentage for tenants in common

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  • Profile photo of lukebe2lukebe2
    Member
    @lukebe2
    Join Date: 2004
    Post Count: 20
    February 28, 2011 - 10:00 pm

    Hi – just curious to know what the maximum percentage is for tenants in common?
    I am on a high income and my wife is on very little. I run the investment so it makes
    sense to run everything through my name.

    Can I put myself down as having a 99% interest? or can you put 99.9%

    Thankyou

    Profile photo of MarJacMarJac
    Member
    @marjac
    Join Date: 2010
    Post Count: 71
    February 28, 2011 - 11:18 pm

    I believe 99% & 1% maybe the realistic percentages

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,856
    March 1, 2011 - 4:15 am

    is using a family or discretionary trust an option? Thus distributing profit to the lower income earner first?

    If not, 1%/99% split is not uncommon.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    March 2, 2011 - 10:38 am

    Think long term.

    If you own 99% now then you will pay 99% of the tax later. A property should only be negative for a short time and there will also be a  CG (otherwise there is no point).

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 4 posts - 1 through 4 (of 4 total)

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