After buying our first IP recently we have to option of going with joint proprietors or tenants-in-common, i've bought the IP with my partner, we are not married but been living together for 5 or 6 years now. The loan is in both our names.
my question to all the experts is:
Which option should we go for? is there a good reason to go for joint prop or tenants-in-common?
from a tax point of view i earn circa 100K pa and she earns about 65K pa, from a tax point of view i dont see why we should not put the property down 50/50 from a tax point of view?? unless i've done my calcs incorrectly there is no big saving having it all in my name or 50/50 split between us both?
thanks for any comments
my question to all the experts is:
Which option should we go for? is there a good reason to go for joint prop or tenants-in-common?
from a tax point of view i earn circa 100K pa and she earns about 65K pa, from a tax point of view i dont see why we should not put the property down 50/50 from a tax point of view?? unless i've done my calcs incorrectly there is no big saving having it all in my name or 50/50 split between us both?
thanks for any comments