Adding family member to a title

spouse, parents or kids?

Some states allow you to put your partner on title gratis but others may have to pay stamp duty & trigger a cgt event for you.

As said depends on which State but usually fairly easy, often known as a 'Love a Affection' Transfer, see a solicitor who will be able to advise fully

However also check with your lender, if the new joint proprietor will not be also become a borrower they will have to Guarantee your loan. 
Some lenders (if not most) may not like this situation especially if the family member is a dependant (i.e. not working) and or not living in the property (i.e. not gaining a direct benefit)

hi Intrigue

A PPOR can generally be passed to a beneficairy without tax or stamp duty under a will. It remains tax free for 2 years and then would be subject to CGT if they were to rent it out or may be exempt if it were to become their PPOR.

Not sure about the gifting a portion each year. Maybe you are referring to the centrelink rules where someone on a pension can give away a certain amount of money each year and still be able to get the full pension. If they were gifitng part of a house there would be stamp duty involved and conveyancing costs. These wouldn't make it worthwhile doing I think.

Also look at getting your relatives a testamentary trust in their will as these can have significant tax and asset protection advantages where the property will be a rental.

If someone passes their main residence to a beneficiary under their will then sell it within 2 years it will generally be exempt from CGT.
s118.195
http://www.austlii.edu.au/au/legis/cth/consol_act/itaa1997240/s118.195.html

If it is not the main residence of the deceased or the beneficiary then s118.200 will apply
http://www.austlii.edu.au/au/legis/cth/consol_act/itaa1997240/s118.200.html

If a beneficiary wants to rent the house out then they are taken to have acquired the property at the date of death and to have acquired it at market value.

You should get some legal advice on the consequences first and decide how the property will be owned – JT, TIC in equal shares, TIC in unequal shares.

Then egage a conveyancer – which may be the lawyer you used above.

sister will pay the stamp duty on the value transferred to her.

It will be a CGT event to you and/or husband who are transferring. If your main residence an exemption may apply, if not CGT.

Before you do all the above best to get the pre-approval in place as if the loan cannot be changed you cannot transfer.

One additional thing – what will be the consideration fro the sister becoming legal owner. Will it be a gift or will she be paying market rate for the property, or even undermarket rate. This has far reaching tax and asset protection and estate planning issues.

Curious5 wrote:

Hi! I’d like to find out what’s the process of adding a sibling’s name onto an existing house title? There will be no money exchange. Are there any legal implications and if there are any costs involved? Appreciate advice.

See above.
Heaps of legal implications.
Costs include legal advice, tax advice, conveyancing, mortgage discharge new loan costs and registration of mortgage, stamp duty and possibly CGT unless the main residence exemption can apply.

If no mortgage then there should be nothing to discharge or register.