Thinking of Turning Your Home Into a Rental Property?
There are a few things to consider before you jump in and make this happen. Ownership structure, tax implications and debt allocation are the main factors – if you don’t get these right from the start they can affect you negatively for several years, you could end up paying extra income tax when really there is no need to!
By talking with us first, together we can work out:
Whether you’re better of as an LTC company, joint ownership, personal ownership or Trust,
How to structure your loans so that the maximum tax deductions are available to you,
How to balance your income so that any tax refunds or payments are being actioned at the best tax rate for you,
What the next steps are to action this plan
So contact us early, make this big change work the best it can for you!