Hello all,
Would love to hear your opinions on this as I've been receiving mixed and unclear feedback from different professional sources.
I've been to see Gilligan and Rowe and have been told to set up an LTC for my new purchases (have not settled yet). My broker isn't too fond of the idea for our situation. I've read a lot of forum posts and a lot of info on LTC and I think I'm too daft to understand.
My partner and I have the same tax bracket and likely to remain so for the next 2 years. I'm not seeing how and why the LTC benefits us and I'm also not seeing the disadvantages (complications maybe?). The 2 rentals will be negatively geared, but with a slight rent raise, they'd both be neutral to positive.
Was suggested that having the LTC owning our rentals would help us purchase our next personal home property - and something about being able to claim tax on our personal home this way? I don't get how this works and have not found any info on it. (To clarify, we don't own a personal home and is our next goal.)
Thanks in advance!!!!!!!!!!!!!!!!!!!!
Would love to hear your opinions on this as I've been receiving mixed and unclear feedback from different professional sources.
I've been to see Gilligan and Rowe and have been told to set up an LTC for my new purchases (have not settled yet). My broker isn't too fond of the idea for our situation. I've read a lot of forum posts and a lot of info on LTC and I think I'm too daft to understand.
My partner and I have the same tax bracket and likely to remain so for the next 2 years. I'm not seeing how and why the LTC benefits us and I'm also not seeing the disadvantages (complications maybe?). The 2 rentals will be negatively geared, but with a slight rent raise, they'd both be neutral to positive.
Was suggested that having the LTC owning our rentals would help us purchase our next personal home property - and something about being able to claim tax on our personal home this way? I don't get how this works and have not found any info on it. (To clarify, we don't own a personal home and is our next goal.)
Thanks in advance!!!!!!!!!!!!!!!!!!!!
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