property in whose name

[topdog]

Hi I was just wondering if any one out there could help. I am thinking of buying a positively geared property, I am the main income eaner and my wife only earns 10K. Whose name would the property be best bought in for taxation purposes.

 

[XBenX]

Have you investigated trusts - can be beneficial if your circumstances change

In general, geared property is best in the name of the lowest income earner

 

[Aceyducey]

Topdog,

The first thing you need to do is get a good accountant.

There are lots of factors which affect your situation, how much you earn & entire financial situation, how happy both of you are for a property to be in only one of your names, what type of property you want to buy and where it is, etc, etc.

You also don't need to buy in either of your names - you can buy via a Company or Trust instead.

As a non-accountant non-expert, who has a great team of advisors, I can only recommend that you track down an expert in your state to help you answer these questions and work out the best approach to take.

Cheers,

Aceyducey