Hi all,
I am looking to purchase several properties over the next 12+ months (most likely wa)an am currently researching the best way forward in regards to structuring etc. I've spoken to a few people regarding trusts and its benefits and protections etc however it seem to me it always involves a number of beneficiaries in which profits can be distributed to be most tax effective.
#1 can trusts work for a single trustee\ benificary ie me and me.
#2 it would seem that I would lose any negative gearing benefits against my payg income. I understand that should the trust makes a loss it simply carries over to the next year. However to maintain the cashflow i would need to prop this up. Could i claim this against my payg income.
#3 Is there a certain criteria that is needed to consider starting a trust if so what would they be.
Slightly different topic:
I need to relocate to Perth from nqld so my next property will be in Perth. If I purchased a property with a granny flat/semi detached unit, lived in the gf and rented out the main house. Is this classified as ppor? If this was purchased in a trust would I simply pay my rent into the trust and the property would be classed purely as an IP?
Cheers for any inputs. I may be way off the mark but that's one way of learning I guess
I am looking to purchase several properties over the next 12+ months (most likely wa)an am currently researching the best way forward in regards to structuring etc. I've spoken to a few people regarding trusts and its benefits and protections etc however it seem to me it always involves a number of beneficiaries in which profits can be distributed to be most tax effective.
#1 can trusts work for a single trustee\ benificary ie me and me.
#2 it would seem that I would lose any negative gearing benefits against my payg income. I understand that should the trust makes a loss it simply carries over to the next year. However to maintain the cashflow i would need to prop this up. Could i claim this against my payg income.
#3 Is there a certain criteria that is needed to consider starting a trust if so what would they be.
Slightly different topic:
I need to relocate to Perth from nqld so my next property will be in Perth. If I purchased a property with a granny flat/semi detached unit, lived in the gf and rented out the main house. Is this classified as ppor? If this was purchased in a trust would I simply pay my rent into the trust and the property would be classed purely as an IP?
Cheers for any inputs. I may be way off the mark but that's one way of learning I guess
