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From: Mr S
Can anyone help me with this concept.
I am employed full time - private industry earning a salary and paying tax. I am also the Director of a PTY LTD Company.
As an individual I intend to purchase a house to lease out... ie Negative gear / depreciate.
I intend to lease it to my Company. The lease fees are a company Tax deduction and I will personally collect the rent.
The house is a personal tax deduction due to it being negative geared and depreciated.
As I am my company... I intend to operate my business from this house and live in it.
What I'm trying to achieve is to legally negative gear my private residence and I'm wondering if this tax loop is legal and/or what am I missing? I'm aware that if I ever sell I'll have to pay CCT but I have no intention of selling... I'll simply move out, lease it with positive cash flow, upgrade my residence and do it again...
But only if legal... ha ha
Cheers
Can anyone help me with this concept.
I am employed full time - private industry earning a salary and paying tax. I am also the Director of a PTY LTD Company.
As an individual I intend to purchase a house to lease out... ie Negative gear / depreciate.
I intend to lease it to my Company. The lease fees are a company Tax deduction and I will personally collect the rent.
The house is a personal tax deduction due to it being negative geared and depreciated.
As I am my company... I intend to operate my business from this house and live in it.
What I'm trying to achieve is to legally negative gear my private residence and I'm wondering if this tax loop is legal and/or what am I missing? I'm aware that if I ever sell I'll have to pay CCT but I have no intention of selling... I'll simply move out, lease it with positive cash flow, upgrade my residence and do it again...
But only if legal... ha ha
Cheers
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