Hi all, first time posting but long time reader.
We are just about to bite the bullet and purchase our first IP. In 12 months time we hope to have another child then my wife will stop working for a few years. The plan is to buy a couple of slightly negative geared (or even positive if we find a decent one) before my wife goes on maternity leave (after which the banks will look less favourably on us for loans..).
The question is, should we purchase the IPs in my name only as it will help reduce tax. But if so, can my wife be on the loan even if her name is not on the title for the IP?
Sorry if this is a silly question, still on a steep learning curve..
We are just about to bite the bullet and purchase our first IP. In 12 months time we hope to have another child then my wife will stop working for a few years. The plan is to buy a couple of slightly negative geared (or even positive if we find a decent one) before my wife goes on maternity leave (after which the banks will look less favourably on us for loans..).
The question is, should we purchase the IPs in my name only as it will help reduce tax. But if so, can my wife be on the loan even if her name is not on the title for the IP?
Sorry if this is a silly question, still on a steep learning curve..