All Topics / Legal & Accounting / What’s the best and appropriate ownership

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  • Profile photo of TveiaTveia
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    @tveia
    Join Date: 2005
    Post Count: 25
    April 20, 2006 - 2:08 pm

    Your help will be much apreciated.
    I’m the main breadwinner.
    I like to purchase one investment property. Would you like to tell me what’s better for me and my wife for the long run. We will borow all the money for the purchase., and I’m 48 years old.
    1. Haw can we structure these property on more effective means for tax?
    2. What’s the best and appropriate ownership structure that we should consider before we purchase the property?

    Thanks in advance for your help.
    Regards
    Steve

    Profile photo of TerrywTerryw
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    @terryw
    Join Date: 2001
    Post Count: 16,213
    April 20, 2006 - 3:37 pm

    Depends on many things, like is it cashflow positive? Who earns the most income? etc

    I would say, probably a hybrid trust is best, with the unit holder being the higher income earner.

    Best check this with a good accountant.

    Terryw
    Discover Home Loans
    Parramatta
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    Profile photo of Paul DobsonPaul Dobson
    Participant
    @pauldobson
    Join Date: 2003
    Post Count: 1,196
    April 22, 2006 - 12:22 pm

    Hi Steve

    Terry is absolutely correct in directing you to a good accountant for this type of advice. However, before you get there, I’d suggest you race out and get a book called, “How to Legally Reduce Your Tax”. One of the authors is Ed Chan. It’s got to be the best educational tool around, for the price, on structuring your property investment purchasers. It’s only $25 and it’s a very easy read. Good luck.

    Cheers, Paul

    Paul & Karen Dobson
    negative2positive
    Turn your negatively geared property into a positive cashflow investment.
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    An alternative way to finance your home.

    Profile photo of redwingredwing
    Participant
    @redwing
    Join Date: 2003
    Post Count: 2,733
    April 23, 2006 - 1:03 pm

    I’d also suggest Dale GatherumGoss’s books and Ed BURTONS re:Structures

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

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

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