I know the answers to these sorts of questions depends on personal circumstances, and the usual answer is "talk to your property-savvy accountant", but I thought worth a post 
My wife and I are about to get an IP, I am in the 40% tax bracket and she is in 15% or 30% (we expect it to stay this way for a few years also with maternity leave etc).
The different between owning the IP 70/30 or 99/1 makes about $1500k less holding costs (according to PIA estimates).
Our strategy does not invole selling property so we are not fussed about CGT down the track.
Apart from CGT (and the difficulty of changing ownership later), are there anyother disadvantages of putting a most of an IP in the higher income earner's name?
Thanks!
My wife and I are about to get an IP, I am in the 40% tax bracket and she is in 15% or 30% (we expect it to stay this way for a few years also with maternity leave etc).
The different between owning the IP 70/30 or 99/1 makes about $1500k less holding costs (according to PIA estimates).
Our strategy does not invole selling property so we are not fussed about CGT down the track.
Apart from CGT (and the difficulty of changing ownership later), are there anyother disadvantages of putting a most of an IP in the higher income earner's name?
Thanks!
