In this episode, Cheryl and I we dive into the nuances of property ownership and the implications of choosing between trusts and personal ownership. We discussed how high-income earners often approach their property portfolios from a tax perspective, highlighting that losses in trusts can’t offset personal income. It's crucial to maintain a neutrally geared property portfolio, especially during growth phases, and we explored the benefits of combining personal and trust ownership for effective long-term tax planning.
As we wrapped up, we emphasized that our ultimate goal should be net wealth creation rather than merely minimizing taxes. Whether you’re a high earner or just starting out, these strategies can enhance your portfolio. I encourage you to work closely with your accountant to ensure you’re maximizing your tax efficiency while focusing on building wealth for the future.
Episode Highlights:
00:00 Welcome to Help Me Buy Property Podcast
04:00 Negatively Geared Properties
08:30 Understanding Tax Benefits
10:16 Negatively Geared Properties and Land Banking
13:53 Self-Managed Super Funds (SMSFs)
18:46 Risks and Limitations of SMSFs
19:53 Trust vs. Personal Ownership
Click on the link below to buy Australian Bestseller “The Millennial’s Guide to Property Investing” now!
https://www.amazon.com.au/dp/B0CRF48GGR
Resources:
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Keep smiling, be kind, and continue investing. Peace out!
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