Working out percentages and expenses etc

Discussion in 'Investment Strategy' started by Savy mum, 31st Aug, 2017.

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  1. Savy mum

    Savy mum Well-Known Member

    Joined:
    6th Apr, 2017
    Posts:
    76
    Location:
    NSW
    In the process of buying my first IP and just trying to work out what percentages to have for our names to be in.

    What expenses are used to work this out
    Rent
    Rates
    Water
    Interest

    What else can be included. It will start of positive just not sure what other expenses can be used.

    Hubby earns more than me so we are thinking 90/10. Just not sure.

    Thanks
     
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    41,675
    Location:
    Australia wide
    Depreciation
    Land tax

    But tax is only one aspect, other aspects are
    - access to strategies
    - finance
    - death
    - asset protection
    - incapacity
    - estate planning
    etc

    perhaps you could consider 1 name too.

    Seek legal advice
     
    Savy mum likes this.
  3. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    23,319
    Location:
    Sydney
    Our Property Estimator tool can help that process

    Its free for clients as part of the tools we share
     

    Attached Files:

    codeninja likes this.
  4. palindrome

    palindrome Member

    Joined:
    12th Sep, 2017
    Posts:
    13
    Location:
    Hobart
    Appreciate that - many thanks