All Topics / Help Needed! / +Changing IP from my name to wife’s name

Viewing 5 posts - 1 through 5 (of 5 total)
  • Profile photo of ANDREW BAXANDREW BAX
    Participant
    @andrew-bax
    Join Date: 2009
    Post Count: 6
    March 16, 2010 - 1:30 pm

    Hi All,

    I would like to know if i can transfer one of my IP to my wife's name for tax reasons and what cost's are involved. 

    Thanks

    Andrew

    Profile photo of BankerBanker
    Participant
    @banker
    Join Date: 2010
    Post Count: 371
    March 16, 2010 - 2:02 pm

    Depends on your state

    Profile photo of ANDREW BAXANDREW BAX
    Participant
    @andrew-bax
    Join Date: 2009
    Post Count: 6
    March 16, 2010 - 2:15 pm

    WA

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    March 16, 2010 - 10:31 pm

    Check with the OSR in WA but Stamp duty will more than likely be payable and of cours CGT if applicable. 

    Richard Taylor | Australia's leading private lender

    Profile photo of number 8number 8
    Participant
    @number-8
    Join Date: 2010
    Post Count: 333
    March 17, 2010 - 1:49 am

    As stated above it can be done, taking into consideration CGT (where applicable) and stamp duty.

    Further, you have to consider Part IVA of the ITAA, (an arrangement set up for a tax benefit). You may require a private tax ruling, in any event you will need a good reason such as "asset protection as your spouse has a job where they may be sued".

    http://www.birchcorp.com.au

Viewing 5 posts - 1 through 5 (of 5 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.