Hi formites,
We are considering purchasing more IPs for the intention later on this year, but want to structure it right for tax as well as for loans.
Currently we have our PPOR in joint names and IPS in a discretionary trust. However, as the IPS is still negatively geared we are not able to utilise the losses in our discretionary trust. We would like to have the flexibility to have asset protection as well as be tax effective in claiming the interest and expenses when it exceeds rental income. The reason why we do not want it in our own names because we run a business in the company structure.
Hence, we are looking into a Property Investment Trust (PIT) with a corporate trustee from Chan and Naylor.
We would love to hear from other Tax experts or experienced investors on the view on this structure – if this structure is as good as it is been marketed.
Alternatively if there is a much simpler structure that will suit our needs that would deliver the same results. What are your thoughts?
Also could anyone refer to us a proactive mortgage brokers in Melbourne who is also a property investor?
Thank you for all your comments so far.
TAG
We are considering purchasing more IPs for the intention later on this year, but want to structure it right for tax as well as for loans.
Currently we have our PPOR in joint names and IPS in a discretionary trust. However, as the IPS is still negatively geared we are not able to utilise the losses in our discretionary trust. We would like to have the flexibility to have asset protection as well as be tax effective in claiming the interest and expenses when it exceeds rental income. The reason why we do not want it in our own names because we run a business in the company structure.
Hence, we are looking into a Property Investment Trust (PIT) with a corporate trustee from Chan and Naylor.
We would love to hear from other Tax experts or experienced investors on the view on this structure – if this structure is as good as it is been marketed.
Alternatively if there is a much simpler structure that will suit our needs that would deliver the same results. What are your thoughts?
Also could anyone refer to us a proactive mortgage brokers in Melbourne who is also a property investor?
Thank you for all your comments so far.
TAG