due to the high tax rate for kids under 18, is it possible to have a co owned property with the kid and i borrow the exact amount for the rent to pay repayments so there is no taxable income, thus no tax,
and in 18 years time when i'm dead, the property passes to the kid practically debt free.Kids can own property but they cannot get loans – and all people on title must be on the loan. What you are describe could be done with an adult too?
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
Why not just purchase in a discretionary trust?
ruk wrote:am i smart or stupid
Not to state the obvious – here you are asking this question, about some solution you have devised, instead of visiting an accountant and asking the right question, and having them devise the right answer.
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:)” title=”>:)” class=”bbcode_smiley” />Stupid
:)” title=”>:)” class=”bbcode_smiley” />
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