Tax/GST/LTC Expert

Ask Mark Withers, director of Withers Tsang & Co questions relating to Tax and Asset Structures

Mark Withers and his team at Withers Tsang & Co specialise in advising on property related transactions, valuation and restructure services and tax planning.

Choosing a vehicle for new rental

Kelly asks:

My husband and I are currently looking to purchase our first rental property but we are not sure what the best vehicle is for owning it.

We currently are in our own home with approximately $200,000 of existing equity. We plan on getting 100% finance to purchase the new rental property (based on our existing equity) and, in a few years time, we expect to purchase a new property for us to live in and to retain our current house as a rental. Over time, we expect to be in a position to purchase subsequent rentals as well.

We want to make sure that we set up the best ownership structure now to ensure that we are able to get the best gains. Thanks for your advice to help us get started on our property investment journey.

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To LTC or not to LTC

Ross asks:

I'm buying a rental property and am wondering whether I should set up a Look Through Company (LTC). I would be the only shareholder. What advantage would an LTC offer me as an individual?

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Rental income tax

Steven asks:

I have recently bought a home and income property as a first home owner. It has two separate dwellings on the title. I stay in one and rent out the other to help to pay my mortgage. It has a seperate power and water meter. Do I still need to pay tax for the rental income? If so, how do I pay it please? 

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