Hi there,
My friend and I are looking at getting into property investing. We are initially doing renovations that we will either hold or sell (depending on the figures). Can someone advise what the best structure would be for us to use. I currently have a family trust setup that I am yet to do anything with, as well as a company that doesn't do much either.Appreciate the feedback.
AdamIt depends on many things.
Probably a discretionary trust would be good as they offer the ability to flexibiliy distribute income. But if you hold the property then they cannot allow any losses to be offset against your personal income. If you have other income in different trusts, then this income could be used to offset the losses in the reno trust.
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
thnaks terry
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