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Thanks Simon, and yes I should've mentioned that I'm in Victoria. Now a follow-up question - If I do go ahead and do this I can only claim from the time that I've taken 100% ownership of the property, is this correct? For example if I took ownership in April I can only claim half of the...

I would like to know how do I go about removing my wife from the Title of our investment property and would this be costly. This is to make the IP as tax effective as possible. Currently the IP is 50/50 owned but as she is not working it would be better off in just my name. Thanks