All Topics / Help Needed! / Negative Gearing and Capital Gains for couples

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  • Profile photo of Fudge111Broz00Fudge111Broz00
    Participant
    @fudge111broz00
    Join Date: 2003
    Post Count: 245
    February 2, 2015 - 11:09 am

    Hello property investors,

    I have a question as someone who is still learning the ropes.

    If my wife and I invested in an IP and the loan was securedundern both our incomes is there any way that the negative gearing can be applied to one income and then the capital gain after sale be applied to the other income.

    Or are the rules that whichever income was used for the negative gearing tax deductions must also be the same income that the capital gain is applied to once it is sold.

    Thank you for your help,

    fudge111

    Profile photo of Fudge111Broz00Fudge111Broz00
    Participant
    @fudge111broz00
    Join Date: 2003
    Post Count: 245
    February 2, 2015 - 12:58 pm

    I guess what I am trying to learn about is if there is advantages in a joint loan scenario and whether what I have said above is illegal or legal?

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    February 2, 2015 - 5:48 pm

    Yez. Buy it in the name where you want the income to lie

    Generallynot a good idea to have joint loans if you can avoid it.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 3 posts - 1 through 3 (of 3 total)

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