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If you borrowed to buy the wife's share then the interest may be deductible - but you said the transfer was for love and affection - ie. no consideration.

You cannot claim the interest on the purchase from your wife as you did not borrow to buy her out. Only the interest on your 50% share would be deductible. Assuming the transfer occured after you moved out = You cannot claim the main residence share on the 50% share you purchased from your...

The whole point of the 6 year rule is to exempt you from CGT!

Why would your wife transfer the property for no consideration? Asset protection issues and interest is not deductible. There is no duty in Victoria for a transfer between spouses at full market value. A mistake! 1. A transfer of property results in CGT - you will be charged at market value...