hi
wonder what would be the advantages and disadvantages for buying a second house in a childs name , company or wife or joint names?
i own my own small old house out right in just my name but with 2 toddlers its a bit small now. dont really want to sell until i get my roi for the solar panels installed. might just rent the rooms to students and move.
im self employed with a company turning over about $100 000 to 12000 gross
and from this a draw a wage of about 30-40k per year
have about 250k cash saved up
wife is getting partial parenting payment
i wonder if i buy a new home with the wife name on the title too and live in it for at least 12 months rent out the rooms of old house for cash to uni students will we have to declare anything to centrelink and will it effect the wife getting parenting payment and family tax benefit.
also wonder if its possible to buy a new home in companys name or childs name and live in it? any pros or cons in doing this instead?
wonder what would be the advantages and disadvantages for buying a second house in a childs name , company or wife or joint names?
i own my own small old house out right in just my name but with 2 toddlers its a bit small now. dont really want to sell until i get my roi for the solar panels installed. might just rent the rooms to students and move.
im self employed with a company turning over about $100 000 to 12000 gross
and from this a draw a wage of about 30-40k per year
have about 250k cash saved up
wife is getting partial parenting payment
i wonder if i buy a new home with the wife name on the title too and live in it for at least 12 months rent out the rooms of old house for cash to uni students will we have to declare anything to centrelink and will it effect the wife getting parenting payment and family tax benefit.
also wonder if its possible to buy a new home in companys name or childs name and live in it? any pros or cons in doing this instead?