Hi,
We owned a rental property under ltc
Me and my wife would have different income next year.
Wife would be doing part time.
Our understanding is having LTC, is that we can change the shareholding so that the tax losses or gains can be offset to the "most appropriate" income level.
ie : if Gains on rental, then should change shareholding so that most of the gains is allocated to the lower income level
if losses on rental, then should change shareholding so that most of the losses is allocated to the higher income level.
Our accountant said that this is tax avoidance ?!?
is that right..?
Ready to change my accountant, wanna make sure first.
Thanks
We owned a rental property under ltc
Me and my wife would have different income next year.
Wife would be doing part time.
Our understanding is having LTC, is that we can change the shareholding so that the tax losses or gains can be offset to the "most appropriate" income level.
ie : if Gains on rental, then should change shareholding so that most of the gains is allocated to the lower income level
if losses on rental, then should change shareholding so that most of the losses is allocated to the higher income level.
Our accountant said that this is tax avoidance ?!?
is that right..?
Ready to change my accountant, wanna make sure first.
Thanks
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