What others do I wouldn't have a clue. This would be my first step….. Make appointment with your accountant and discuss the options of which there are many, but there is only one that is right for you and your individual circumstances; or start with the ato website, lots of clues there.

When buying a property, my understanding is that money spent on improvements within the first 12 mths cannot be claimed, or have I got it wrong and then there is CGT. I would think it would be the first step, talk to the people who know this (oh to be an accountant), who hopefully guide their clients in what should be the direction that's right from the start for each individual. 

Don't forget keep us up-to-date when you find the answer!

We all have to start somewhere, if anyone is prepared to share and devulge on this subject, don't be shy, why not share this info with the newbies…….that would be f-a-n-t-a-s-t-i-c.  And a thank you in advance to those who do.

Cheers