Hi,
my wife will be having 2 IPs soon, all under solely her name. both are negatively geared.
we intend to manage it ourselves. Her income bracket are higher than mine.
can i get an ABN, formally start a "business" that only manage my wife's IPs? if her IP is getting $300 per week and i charged her say $30 per week and it will become an expenses for her but it is an income for me. Hence this $30 will be at a lower tax bracket. is this legal?
cheers,
Scott
my wife will be having 2 IPs soon, all under solely her name. both are negatively geared.
we intend to manage it ourselves. Her income bracket are higher than mine.
can i get an ABN, formally start a "business" that only manage my wife's IPs? if her IP is getting $300 per week and i charged her say $30 per week and it will become an expenses for her but it is an income for me. Hence this $30 will be at a lower tax bracket. is this legal?
cheers,
Scott