Forum Replies Created
Ahh the old look after you kids catch call. I currently pay for my sons school fees {private catholic school} as well as pay child support. I don't see why I should pay both when I know that the child support is funding my ex wifes trips away with friends, shopping etc etc. I have no problem paying child support , providing that is goes to my son. I will happily pay for his education as I don't want him to go to a public school in the area they live but to pay both and now more because I am successfull and she refuses to get a job just doesn't sit right with me.
Anyway back to the point. Is there anyway to minimise the tax I am paying now without negative gearing Terry ? I'm trying to save up for a sizeable deposit as well as putting a few bucks away for when my sons goes to high school.
Terryw wrote:Yes, CGT on the sale may be avoided, but you will inherit her cost base so, in effect you could be paying her CGT bill too – laster on when you sell.So how do I avoid this then Terry ?
Terryw wrote:Also watch out for any CG implications. If you transfer an asset under a family court order you may inherit (or give) the CGT implications with it.How does that work Terry ? I thought if I bought her out and the loan and the home was in my name only I avoided any Capital Gains Tax
I am sure there is an insureance you can buy to help cover these situations. Not sure if It only applies once you buy the house though. Speak to a conveyancer about it they will be able to help
No she doesn't have the money to do that
Hi Ryan, thaks for the reply. We have paid about $10,000 off our loan so far as we only bought the house late last year. The house is about 20-25 years old and we have done a few minor renos like floor boards , re painting etc after we purchased the property. I get what you are saying about selling the house and starting fresh
Thanks
Gords
Thanks for the tip mate. But once I buy her out which way do you think is better
