The big news this month was the 2015 Federal Budget.
Small business will be happy with the news of immediate write-offs for equipment purchases up to $20,000. However that is about as far as the good news went. While the much feared changes to superannuation tax rates didn’t happen (that is a debate that will continue though) the budget was bad news for retirees with assets of more than $450,000.
Australians love property and our high level of (expensive) property ownership is one of the reasons we are ranked as one of the wealthiest countries in the world. Not only do we desire our own block of paradise, we also love to invest in property with 1.9 million individuals declaring rental income (or more likely a rental loss) in their annual tax returns.
Utilising a unit trust structure to provide multiple investors with ‘shares’ in an underlying property is not new.