in this type of situation you have to weigh up the benefits of getting you an income verses your husband saving tax.
If you were to use a discretionary trust you could divert the profits to yourself. Up to approx $16,000 pa tax free. Where as if you bought in your husband's name he would pay approx half in tax. But this is assuming there is a profit.
With property there is usually a loss in the first few years, so if bought in a trust then the losses will need to be carried forward (assuming trust has no other income) and husband cannot save tax.
If bought in husband's name you may be able to save a few thousand in tax in the intial years. This in turn could help you afford further investments.
But, thinking long term, your rental income will increase and the property will make a profit. So if in husband's name he will be paying approx 50% tax and you will still have no income - assuming your situation doesn't change. Same if you sell, though CGT will be a max of 24%, but you will still have no income.
So i think you need to weigh up short term verse long term. Maybe do some spreadsheets, make a list of pros and cons of using a trust.
If you were self employed it would be much easier to divert income into the trust to offset the loss and to save tax, but being PAYE makes it inflexible in this regard.
If you were to use a discretionary trust you could divert the profits to yourself. Up to approx $16,000 pa tax free. Where as if you bought in your husband's name he would pay approx half in tax. But this is assuming there is a profit.
With property there is usually a loss in the first few years, so if bought in a trust then the losses will need to be carried forward (assuming trust has no other income) and husband cannot save tax.
If bought in husband's name you may be able to save a few thousand in tax in the intial years. This in turn could help you afford further investments.
But, thinking long term, your rental income will increase and the property will make a profit. So if in husband's name he will be paying approx 50% tax and you will still have no income - assuming your situation doesn't change. Same if you sell, though CGT will be a max of 24%, but you will still have no income.
So i think you need to weigh up short term verse long term. Maybe do some spreadsheets, make a list of pros and cons of using a trust.
If you were self employed it would be much easier to divert income into the trust to offset the loss and to save tax, but being PAYE makes it inflexible in this regard.