Hi everyone,
I’m in WA and I would like some input. We have paid off our PPOR and have just borrowed to purchase a bigger house for the family. We have decided to keep our old property and rent it out.
We burrowed about 360 to purchase our new property. We will be receiving 450 for our old property. I am thinking of setting up our investment property through a family trust. Is there a lot of benefit me doing this as I would have to pay stamp duty for the property to be set up in the trust fund.
Just wondering if anyones had any similar experiences.Thankyou Peter
There could be benefits.
The trust would be able to borrow 100% to buy from you and deduct the interest. This could release cash to you to pay down your PPOR loan and also you won't have the rental income which would have otherwise paid tax on . This will now be in the trust and be offset by the interest. Do the sums and see how long it would take to make the stamp duty back
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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