See this insightful 3-minute video presentation by Garreth Collard, Principal of EpsomTax.com in which he explains the nuts and bolts of the most common rental ownership structures to APIA members. Click here for a copy of the handout being used at the presentation.
Disclosures: EpsomTax.com does not claim endorsement by APIA. Garreth Collard was invited to speak to APIA members by APIA. Garreth was not remunerated for this.
Note: Some partnership agreements do allow annual adjustments to distribution of losses/profits; check the wording of your agreement with your lawyer if you are not sure.
Accounting for your rental residential investment property; general taxation advice.