Hi there folks!
Luke here looking for some direction, clarity and forum wisdom.
My Sister and I are both married with (pre-teen) children, in our late 40’s and have mortgages over PPOR and investment properties.
She lives in Mackay and I in Brisbane.
All spouses work in (self) employment not significantly affected by COVID…
My sister and I have discussed and at least in principal agree, we would like to purchase a rural property within SEQ (250km) as an investment to both enjoy now and leave to our children when we die.
A rural property (60 acres) + income producing tourism accommodation business is for sale.
The sale includes land, 2 x cabins, shed and all chattels, future bookings and reservations lead generation funnel.
It has historically produced a 50% profit before tax.
My questions:
- How best to structure the loan and purchase – considering personal, tax, property and business components, short and long term goals?
- How best to obtain a deposit – Cash, PPOR or IP?
- What else should we consider considering the potential complexities, upsides and downsides of such a purchase?
I appreciate there are complexities beyond the scope of this post but I would greatly appreciate your experience and expert opinion.
Many thanks,
Luke
Hi there
1. comprehensive legal advice is needed.
2. you or the entity would probably want to borrow it if possible. no relevant information given. have you a paid off main residence? Excess cash you can use etc.
3. heaps – death, family law, incapacity, bankruptcy, land tax, stamp duty, CGT/Revenue, serviceability, income tax, asset protection, estate planning, trust law, corporations act etc etc.
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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