Hi all
I really wasnt sure where to post this as it probably fits under Tax and Legal and other sections of the forum.
Ive recently settled on my first IP, with plans over the coming 7-8 years to add another 8-10 properties. My first was purchased under my own name but im wondering how to set up my portfolio from here. My circumstances are: single income earner on a high salary, with 1 child and my goal is to semi-retire in about 10 years, to work just part-time.
At the moment i'm negatively geared but anticipating this to change over the years.
I would like to think that I will hold all (or most) of my properties "forever" - living off the rental income and equity and that I pass the portfolio down to my child when I go to that better place in the sky.
I was thinking of a Trust/Company structure but understand I can't use any of the negative income against my current high income so not sure about this.
Would love anyone's thoughts, ideas or examples of how you've structured.
Many thanks
Kaia
I really wasnt sure where to post this as it probably fits under Tax and Legal and other sections of the forum.
Ive recently settled on my first IP, with plans over the coming 7-8 years to add another 8-10 properties. My first was purchased under my own name but im wondering how to set up my portfolio from here. My circumstances are: single income earner on a high salary, with 1 child and my goal is to semi-retire in about 10 years, to work just part-time.
At the moment i'm negatively geared but anticipating this to change over the years.
I would like to think that I will hold all (or most) of my properties "forever" - living off the rental income and equity and that I pass the portfolio down to my child when I go to that better place in the sky.
I was thinking of a Trust/Company structure but understand I can't use any of the negative income against my current high income so not sure about this.
Would love anyone's thoughts, ideas or examples of how you've structured.
Many thanks
Kaia