"think i'm correct,at present owner occupied homes when held in trusts the interest is tax deductable would b interesting if this was scrapped and tax charged on interest"
If the property is owned by a family trust any loss made by the trust would be a carry forward loss. Also for you to be able to claim interest and other costs you will have to pay rent at a market rate to the trust as the property must be earning income (or at least be available for rent) to be able to claim deductions. The biggest gains you get from trusts are: 1) A level of asset protection if structured right. 2) Allows you to distribute income to beneficiaries - allowing you to make the most tax beneficial choices.
Bearing in mind putting your own personal residence in a trust means you will have to pay CGT when you sell, and if you go over the threshold limit you will be liable for land tax - Both of which are not a concern to the average Joe if they own their own home in their own name.
