I know there are no shortage of subjects of the entity structure of how I should buy a property. Have a meeting with my accountant (understanding they will give advice what is best for tax) and any guidance on questions I should be asking about how to own IP1 - part of a planned journey of owning 4-5. Some points that may assist I am in a profession where I would have a low chance of being sued I earn the higher income of my wife who works part time (house-hold income aprox 130K) Property will probably be purchased in QLD Understand the simplest would be in my name for Negative Gearing reasons but understanding also down the road it will be positivity geared Any pointers would be appreciated TT
You should be thinking more than tax. I have a checklist of about 15 things to consider. Don't forget what is negative now will make a profit someday - otherwise there is no point in buying it. Once you consider ownership structure you need to consider funding structure. And there will probably be not just one structure, but multiple through out your investment life.
Thanks Terry. I will go through your earlier posts and find the checklist Appreciate the time to respond
I haven't put the checklist up, but you can work out many of the things to consider when buying a property from my posts.
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