I felt this could go in a number of threads, but my real focus is how to minimise my tax and maximise my wealth, so here it is.
I recently moved from my PPOR in Sydney, which is debt free and I've owned it for 15 years so the capital growth is great.
I have just purchased a new PPOR in Melbourne, and am thinking of selling the Sydney PPOR to reduce debt on the new PPOR. Financially, I don't have to do this, but from an investment perspective I think it generates the best return/wealth. Alternatively, I could keep the property and rent it out. I know the full details and history of it and it is the type of property I would add to my investment portfolio if I was buying.
But I'm wondering if there is something I'm not considering, that perhaps I should? e.g. using a trust structure? Something else?
Any suggestions appreciated!
I recently moved from my PPOR in Sydney, which is debt free and I've owned it for 15 years so the capital growth is great.
I have just purchased a new PPOR in Melbourne, and am thinking of selling the Sydney PPOR to reduce debt on the new PPOR. Financially, I don't have to do this, but from an investment perspective I think it generates the best return/wealth. Alternatively, I could keep the property and rent it out. I know the full details and history of it and it is the type of property I would add to my investment portfolio if I was buying.
But I'm wondering if there is something I'm not considering, that perhaps I should? e.g. using a trust structure? Something else?
Any suggestions appreciated!