All Topics / Legal & Accounting / selling PPOR to Wife CGT?

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  • Profile photo of PosEnterprisesPosEnterprises
    Member
    @posenterprises
    Join Date: 2006
    Post Count: 290
    January 24, 2008 - 7:22 am

    Hi want are the rules for the selling your existing PPOR to your Spouse.  Are you up for CGT and Stamp Duty?  is there another way to keep the PPOR and turn it into a IP so you can extract the Equity out for a new PPOR.

    thanks

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    January 24, 2008 - 9:02 am

    In Most cases the main residence will be exempt from CGT on sale. I know of no restrictions on who you can sell to – other than you must pay stamp duty etc at market rates.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    January 24, 2008 - 9:19 am

    There is no way of avoiding the stamp duty payable on the Transfer but the amount will depend on whether she is a party to the Title already (In some cases it maybe owned as Joint Tenants or As Tenants in Common).

    Richard Taylor | Australia's leading private lender

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