Advice needed on which "Name(s) on contract? Or Trust Structure? -- Cox Business Accountants

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Date Posted: Thursday, February 27, 12:00:26pm
Author: Damian
Subject: Advice needed on which "Name(s) on contract? Or Trust Structure?

My wife and I have received pre-approval on a loan application for an Investment Property in the ACT. We are now close to signing a contract so I was hoping to get some prompt advice on the following.

My question is:
How should we structure ownership of the IP on the contract, so as to best maximise tax benefits?

After originally being advised that we could do it under �Joint Tenants�-99% me/1 wife, now I�m a tad unsure? Our solicitor has advised that �providing the funds for the purchase come from joint funds then it is unlikely there will be any query if the proportion of ownership was say 70% for one party and 30% to another�. i.e. I�m assuming that the ATO let people do the 70/30 split? So how high can you go, can a couple safely do the 99/1 split under Joint Tenants? Sole ownership in my name was not discussed when we last met with the solicitor but I realise now that that is a serious option.

Other investors have now suggested that I set up a trust structure which gives you the flexibility of distributing income from the trust further down the track- and offers some form of asset protection.

Our solicitor suggested we get advice from an accountant I which is the reason for my post. Hoping someone may be able to get back to me on this one soon. Many Thanks.

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Replies:

Re: Advice needed on which "Name(s) on contract? Or Trust Structure? -- Angus Sherlock, Friday, February 28, 01:11:58pm
- Thanks Angus -- Damian, Friday, February 28, 02:29:49pm
  - Re: Thanks Angus -- Colin, Monday, March 03, 07:42:39am