Hi all,
would really love some advice any appreciated, I have two IP in my name that I have had for a little while, I got with my partner two years ago and she already had a PPOR, we have recently started a family and I have decided to be the stay home dad, because she earns more than me.
We now want to put the IP into both our names because of negitive gearing purposes. So does that mean her name has to go onto the titles, so costing more stamp duty
. I have been reading abit about unit trusts on these forums and wondering if they could be used for this instance, or some other way to set this up, any advice would be great.Thanks
dotkangaroo
some states allow you to add your spouse to the title without stamp duty imposition. Speak to your solicitors/Conveyancer or the LTO.
dotkangaroo – Welcome!
Scott is right, some state allows you to place you partner’s name on the deed without paying the stamp duty ie VIC ( pay a $20 rego fee only), another states such as NSW require you to pay the stamp duty portion of the “sell off”.
I’m not up to date about QLD, SA, NT, WA…..maybe another members who knows can fill us in on these states?
A trust will allow you to transfer the deed to the trust without any stamp duty payable, BUT the beneficiaries of the trust will not have any “personal tax advantage”; the trust is it’s own identity within it’s own right
Regards
MichaelMick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
. I have been reading abit about unit trusts on these forums and wondering if they could be used for this instance, or some other way to set this up, any advice would be great.
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