Hi I am getting married with a guy who has owned a few properties under his name. We are looking to buy a residential property together now. However, we are worried paying too much land tax if under his name, so we are thinking to buy under my name only before we get married( I only own a unit now and its over 2 years already). Is this a best way to be eligible for land tax exemption in our current situation? Also we are considering to set up a trust to co own this property once we get married. But we are not sure a few things:
1. Is it tax free to transfer this property to my husband;s name once we get married?
2. Whats the best trust structure for us to co own this property and future investments together?
Any advice would be much appreciated. Also any recommendation on a good tax planner or lawer in terms of setting up trust and tax advices in sydney would be much appreciated.
Regards
Lisa
Property law differs in every state. In some states Trusts have the benefit of the threshold for land tax, in others there is no such benefit.
To many questions with specific answers to give a general advice statement.
A good Mortgage Broker should be in a position to help you structure the loans and set up correctly.
Richard Taylor | Australia's leading private lender
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