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Loans don't need to be in both names. Could be one name with the other providing a guarantee. Relevant tax legislation is s8-1 itaa97. You also have to consider Part IVA ITAA36. There is also a tax ID for a spousal transfer. Paul and I have clients who have done this.

For tax purposes there would be no differences, but this could be done with nominal stamp duty and asset protection benefits.

Yes Paul is actually correct. I missed that.

that is correct :)

payable in this case. Final ownership must be 50/50 for the exemption (in NSW)