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  • Profile photo of ArkyCArkyC
    Participant
    @arkyc
    Join Date: 2004
    Post Count: 3

    Thanks Derek,

    Yes, the property is in Victoria. I actually contacted the ATO and the only way I can claim 100% is to:

    Buy my wife’s share but she will need to pay CGT as you mentioned. I guess the question is, if she doesn’t have an income, and CGT is based on your taxable income, does she pay any CGT at all?

    The accountant I chose is crap, even though he claims to know about property.

    Does anyone know of a good accountant in Melbourne who owns their own IP?

    I guess the positive out of this is that if I can’t change ownership easily and without too much cost, is that if my wife still isn’t working when we sell the property, the CGT we will pay is reduced and not based solely on my income.

    thanks,

    Richard.

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