I wouldn't want to incur LMI unnecessarily.
Interest is only deductible against the income it relates to. If the ownership of all the properties is the same, and assuming all interest is...
If they are strata titled take them to 4 different lenders.
But there are laws for absences
When a joint tenant owner dies their share of the property passes to the other surviving owners. There is no opportunity to deal with the property...
search the address on google and see who last advertised the property
Thats better, but the ATO disagree. I am not sure the ATO argument is correct though, but there is one private ruling where they denied the...
Buy the property and become the landlord
Real estate agent?
can't claim any expenses as there is no income, but not a big deal perhaps if largely paid off
Edit - some could be deductibe in year 6 as it must be apportioned in the first year
Yep, sounds like your accountant is wrong
LMI only potentially deductible over 5 years so you would have to apportion it for the 3 remaining years.
see s102AG ITAA36 and get some legal advice. Minor children will be taxed as adults on income from a deceased estate.
I don't know how insurance...
You will also lose deductibility of interest in full if you change from 50/50 to 70/30
Small business c o ncessions
But with any transfer you have consider the bankruptcy and conveyancing act drawbacks as week as...
You will have recourse against the conveyancer, but prob not the vendor. Best to go and see a lawyer now (or tomorrow).
I have about 5 draft posts on FTE, but will post under the tax tips as it is mainly a tax thing.
FYI a bucket company can be part of the family.
Legal Tip 245: The Two Ways to Jointly Own Property – Joint Tenancy v Tenants in Common Legal Tip 245: The Two Ways to Jointly Own Property –...
When two or more people buy property together, they must decide which way they will jointly own the property.
The two ways are either:
Separate names with a comma.