I had this all figured out, but somehow have gotten my head in a spin.
For my latest purchase, I need to access most (all) of the negative gearing/tax offsets as my wife earns zilch.
The loan is purely in my name, but the contract has her name.
I cannot figure out how to make this work.
We have another two properties, I am the only one on the title/contract/loan on one, and we are tenants in common 90% her/10% me on another.
Should we be joint tenants? Can I still claim all the tax?
Tenants in common 99%/1%?
Something else? Despite needing the asset protection, I've decided that I need the cash this year, rather than deferring the tax benefits etc.
The loan has only my name on it.
To complicate it further, we have taken quite a liking to the property and might just move in for 3-5 years. Does this change things or how I should set it up?
Aaargh!
Thanks
For my latest purchase, I need to access most (all) of the negative gearing/tax offsets as my wife earns zilch.
The loan is purely in my name, but the contract has her name.
I cannot figure out how to make this work.
We have another two properties, I am the only one on the title/contract/loan on one, and we are tenants in common 90% her/10% me on another.
Should we be joint tenants? Can I still claim all the tax?
Tenants in common 99%/1%?
Something else? Despite needing the asset protection, I've decided that I need the cash this year, rather than deferring the tax benefits etc.
The loan has only my name on it.
To complicate it further, we have taken quite a liking to the property and might just move in for 3-5 years. Does this change things or how I should set it up?
Aaargh!
Thanks
What sort of contract?
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