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  • Profile photo of leonk84leonk84
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    @leonk84
    Join Date: 2012
    Post Count: 5
    October 24, 2012 - 12:17 pm

    Hi Jamie, can you please elaborate what you mean by "not being a true offset". And in your opinion can I do better than 5.7% with them ?

    Cheers

    Profile photo of leonk84leonk84
    Member
    @leonk84
    Join Date: 2012
    Post Count: 5
    October 15, 2012 - 10:33 am

    Hi Terry, thanks for your feedback. You are 100% correct, unfortunately there will be no claims on interest (or potential interest). The only benefit will be because the property will be positively geared – any rental income I believe can go into my wife's name as the lowest earner – and hence on a lower tax bracket. (rather than me who is on a higher bracket.).

    Does that scenario sound correct to you. eg. [1] Transfer property to my wife 100%, and [2] Rental income earnt for the year will go under my wife's name and she will be liable if any tax paid on this income.

    Cheers

    Leonard

    Profile photo of leonk84leonk84
    Member
    @leonk84
    Join Date: 2012
    Post Count: 5
    October 14, 2012 - 12:28 pm

    Thank you all for your thoughts. As we live in Victoria we are leaning towards keeping it and transferring the property into my wife's name for tax purposes (lower income earner) and can do this via the "love and affection" clause which would not incur stamp duty.

    This will then become our investment property with the new property as the PPOR. However my question is will the transfer to my wife trigger a CGT event ?

    Regards, Leonard

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