There are many ways to own property.
You can hold property in your sole name or own it with other parties.
If you own property with other parties you can hold it as joint tenants (where there is no specific ownership percentages) or tenants in common (where you can specify each party's interest).
You can hold property in a discretionary (family) trust, unit trust or hybrid trust.
You can own property in a company or a self-managed super fund.
There are plenty of choices. However, many people do not stop to consider the best option for their circumstances.
When choosing the most appropriate ownership structure, consideration needs to be given to immediate tax benefits (negative gearing), future tax liabilities (when the property produces taxable net income), future capital gains tax liabilities, asset protection, estate planning, retirement strategies, managing exposure to investment risks, and so on.
We assist our clients to weigh up all of these issues carefully to avoid the wrong decision and as lives change over time we assist in review of past ownership structuring decisions which have become suboptimal for changes circumstances.
Call us on 08 8523 8400 for a no obligation consultation with one of our lawyers to discuss ownership structuring for you or email us at firstname.lastname@example.org.