Hi, thanks for your relies.
My accountant has suggested selling my half to my wife.
He tells me that all i need to do is obtain a market price for the land, then sell my half to her at half market value. As she would then have full title of the land, she is entitled to claim full deductions for the land and construction costs ( once the construction mortage had been refinanced into her name). As the land is worth around $500K , the selling price of $250K would only attract stamp duty of around $8000 in WA…
Does this all seem ok to you guys…??
I've just finished studying some Trust law at Uni and had considered that option.
Paul
