trusts
- Thread starter BMan
- Start date
No trust!
If you rent to yourself the interest wouldn't be deductible. If you rented from a unit trust which you controlled and had an interest in as a unit holder then it may be possible, but the ATO will be carefully considering Part IVA of the tax act - why are you wanting to do this?
Setting a trust up after you own properties doesn't affect the properties you already have.
i read on here a while ago about someone renting to themselves via a trust
thought it could be a good way to get into a new house sooner
also read that through a certain trust you could borrow money and it was tax deductible. it didnt matter what the money was used for
must of mid read what was said
thought it could be a good way to get into a new house sooner
also read that through a certain trust you could borrow money and it was tax deductible. it didnt matter what the money was used for
must of mid read what was said
With unit trust it may be possible to borrow to buy the units and claim the interest. Needs care.
You may also be thinking of the 'refinancing principal' which involves selling the units to another entity and that entity borrowing to buy them. Released funds could be used for private purposes with the interest deductible (in certain cases).
If the house is held in a discretionary trust and structured the same as Janmoor Nominees then possible. In Vic no land tax on PPOR held in a trust. Remember the losses will be trapped in the trust.
