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Sorry to jump in, but can I clarify something here.
dannyde said that he has PPOR on his own, therefore both of them own two properties, so if his partner is selling her PPOR she doesn't have to pay CGT is it? and vice versa if dannyde selling his PPOR he doesn't pay CGT given same example.
sorry for my English
Thank you all for the reply.
Qlds007:
The current house is not rented out and we both not even live in it, basically right now my uncle (from dad side) live in it. Does that incurred any CGT if we going to sell it?
I'm not 100% sure why, but the reason my sister want to remove her name from the title because she afraid her second house will be consider for CGT or some Tax purposes after she sell the second house. Are there any complication if she choose to buy another property and avoid CGT or any Tax related issues?
Scott No Mate:
I'm not thinking of selling this house, I felt that if we sell this house it's like we want the inheritance while our parents still here with us, and even I agree with her to remove her name from the deed, I don't have to money to pay for SD anyway.
Sorry for the confusion, please read below, i believe i have made myself more clear this time round.
In 1996, my dad bought a house for my sister and I (both of our names are on the title deed).
My sister and her spouse (Tony) also have a house of their own, but the deed of their house is only under Tony's name.
The issue started when my sister wanted to buy her second home (a house purely under her name). They plan to live in the second home but may sell it in the future, and will rent out Tony's house.
The reason why they plan to have the second home purely under her name is because Tony is afraid that if his name is also on the deed, he will have to go through the hassle of the CGT.
Now, my sister wants me to remove her name out of the title deed (from the house our dad bought for us back in 1996). I'm not happy to do this as i will have to pay for the Stamp Duty (NSW), because I've got other commitment i.e saving money to buy a house of my own.
Are there any strategies that would help all of us in this circumstance? Your help would be appreciated.
Cheers,
David
