Scenario:
It looks like I might have a full-time job (my first in 18 years - I usually contract) on the Gold Coast. We currently live in BrisVegas.
Instead of paying "dead rent" or rushing in to buy a house on the GC, I thought we could purchase an apartment in my husband's name and then I could rent it. After four-six months, we will make a decision on moving permanently to the GC at which time we hope to purchase a house to live in and rent out the appartement. The house in BrisVegas would also be kept as another rental.
Question
Is this legitimate according to the almighty ATO?
As always your advice / help would be appreciated.
Joanne L.
It looks like I might have a full-time job (my first in 18 years - I usually contract) on the Gold Coast. We currently live in BrisVegas.
Instead of paying "dead rent" or rushing in to buy a house on the GC, I thought we could purchase an apartment in my husband's name and then I could rent it. After four-six months, we will make a decision on moving permanently to the GC at which time we hope to purchase a house to live in and rent out the appartement. The house in BrisVegas would also be kept as another rental.
Question
Is this legitimate according to the almighty ATO?
As always your advice / help would be appreciated.
Joanne L.
