Tenants in Common ( is Dale CPA available)

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From: Paul Hodgson


If husband and wife are planning to buy a
number of investment properties in the over the next few years. Is it acceptable ( for the first ) to structure the ownership as Tenants in Common with a 99% ownership to the larger income earner 1% to the smaller. Would it be acceptable to the Taxation Department as long as income and expenses are distributed in the same ratios. There is no other partnership under general law. Just co-owners of investment property.
Hope someone can assist
Paul.
 
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Reply: 1
From: Dale Gatherum-Goss


Hi

Yes, it is fine with the tax office. However, just keep in mind that your circumstances might change at some stage and the ratios may not suit you then. This is always my concern when we're investing in long term assets.

Otherwise, no problems.

Good luck

Dale
 
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From: Paul Hodgson


Thank you Dale
Paul
 
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