Thanks for the advice Terry,
To answer your question, if we were to leave the titles in my parents name, I would pay for the monthly repayments myself out of my savings account.
Will I be able to claim the expenses when I sell the property?
But my understanding is that if we do it this way, my repayments will not be able to use my repayments to minimise their CGT.
Also, where dies registering for GST come into play if we leave things as they are?
I think I have things far more compicated than what they need to be
Thanks
If you leave things in your parent's name, then you cannot claim things, only the owners. You could lend them the money and they would be able to do the development and claim the expenses though. They have lower incomes so this may result in less tax later on too.
Not sure what you mean about your repayments being used to minimise CGT. CGT is not affected by repayments on interest. Interest is an income expense so comes into play elsewhere.
I am not too sure about GST – it is too complicated to understand.
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
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