Investment Property Scenario - feasible?

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

hearyourself
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@hearyourself
Join Date: 2013
Post Count: 1
April 28, 2013 - 7:10 am
Scenario:
1. Married couple.
2. First Property purchase.
3. Husband purchases property as IP (NSW).
4. Loan in Husbands name only.
5. IP title in Husbands name only.
6. Both husband and wife move into the IP.
7. Wife pays as the tenant.
Would this scenario constitute as an investment property for tax purposes?
Terryw
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@terryw
Join Date: 2001
Post Count: 16,213
April 28, 2013 - 2:16 pm
Sounds like a main residence to me.
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TheFinanceShop
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Join Date: 2012
Post Count: 1,271
April 28, 2013 - 10:15 pm
No. Why not rent out another property and use this property as an IP? You just need to be wary of CGT implications in doing so.
Regards
Shahin
TheFinanceShop | Elite Property Finance
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Jamie Moore
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Join Date: 2010
Post Count: 5,069
April 29, 2013 - 12:03 am
Terryw wrote:
Sounds like a main residence to me.
Same. Everyone would be doing this if they could get away with it.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
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