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Or you the son buy an annuity in the parents name with your own cash.... Good thinking Stumpie

These sorts of transactions make me worried - there are so many issues with it that you don't seem to fully understand. Both you and your parents should get independant legal advice before doing anything.

1. Could this be rectified? 2. If it could save you $60,000 and $5000 per year? And get the CGT exemption. 3. Yes as there will be no change in ownership

What are the alternaitves? 1. Could you parents borrow to get a LOC set up and then onlend you the money? 2. Could you do a joint purchase and use their property as additional security? i.e. cross collaterlatise 3. Could a trust be set up with you and a parent or both as trustees or...

Some estate planning issues: When they die they cannot leave it in their will - If you have other siblings, relatives etc they want to benefit they couldn't with the property. But they may have cash or other investments - No ability to leave it to you via a testamentary discretionary trust...

Factored or considered: - Loss of main residence CGT exemption? You may get this if you live in it, but not if you rent it. They would also not be utilsing theirs. - Stamp duty on $1.5mil is a lot! - Land tax issues - How will you negative gear if you are living there? If renting out...