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Yes. My accountant was very pushy about getting this across to me. I purchased my first IP under my own name and 7 years later he's still annoyed at me. As I understand it, it MUST be purchased in the correct name.
Thanks all for the contributions. It will be helpful when I meet with my accountant next week.
Not sure if this helps but I have a family trust solely in my name. My accountant had me put mine as: xxxx (trust name) as trustee for the xxx (my last name) Family Trust
Thanks Richard. I'm not concerned with the tax returns etc. I'm the sole director of both my company and my trust so the bank will look at both regardless of which one does the investing. The company is profitable whilst the trust doesn't really do anything. My real question is whether it's better to make an investment with my trust due to the protection of assets ir offers, or my company which could sustain any costs and would benefit better from the tax deductions but is at higher risk if the company was sued or something .
Rahrahprincess. Great advise. Where would I want to live when I'm 50 is a good question and definitely one to consider. I think I'm going to go for a mix of inner city and growing outer suburban – spread the risk I guess.Hi there. I've been working from home for 12 years. I got tired of having to buy bigger homes to accomodate my business. 2 years ago I bought a new PPOR and we calculated the area used by my business was 40%. The property was then purchased in two names. 60% in my name and 40% in a trust. The trust then rents their portion to my business. Best thing I ever did.
