Are You buying an investment Property? Have you thought who should own it?
There are many different and competing factors to consider when deciding who should own an investment property. The factors include tax (and different types of tax), Incomes, duration which the property will be owned, the likelihood of ever being sued, whether the property will be owned during retirement, which State the property is located and even more factors.
1 crucial consideration is How do you by it? In your name, with your partner, joint or tenants in common, and…a trust or company or which type of trust? And this Does Matter depending on where the property is located.
You need to get this right at the start or you could suffer significant tax consequences.
Contact us to find out what is suitable for your particular situation. Ask for our Ownership Considerations paper.