Hi i would like to ask any person that has experience with rent to buy and the best approach to set this up for tax purposes.
Currently we have a property worth approx $60k mortgage free under a LAQC which is part of our property portfolio.
With the recent current law changes in NZ, what would be the best way to get as much money back without getting stung heavily from IRD. please note myself and partners income would be less than the average wage as new baby born and and im trying to find work and should do soon). i want to be open as it could impact how we set this up.
Also if we go with the rent to buy, our LAQC would then be making profit.
There has been some suggestions of tranfering our company name to personal names then lending from the company..
if you have any questions please ask
Cheers
Currently we have a property worth approx $60k mortgage free under a LAQC which is part of our property portfolio.
With the recent current law changes in NZ, what would be the best way to get as much money back without getting stung heavily from IRD. please note myself and partners income would be less than the average wage as new baby born and and im trying to find work and should do soon). i want to be open as it could impact how we set this up.
Also if we go with the rent to buy, our LAQC would then be making profit.
There has been some suggestions of tranfering our company name to personal names then lending from the company..
if you have any questions please ask
Cheers
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