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Yes she could do with her cash as she pleases. I don't think Part IVA could apply to this sort of transaction, but it may be a good idea to get a private ruling before doing it.

stamp duty is exempt in VIC for transfers between spouses. You should make sure money changes hands and do everything property. Pay particular attention to the asset protection side as well as the tax side. borrow the costs as well.

Nope. Why don't you consider buying your wife's interest in the property at full market value and borrow to do so.

Totally off track - although heading in the right direction. If you transfer without consideration the loan cannot be deductible. Interest is only deductible if you borrow to purchase an income producing asset - here you would be borrowing to buy a gift.. Yes, CGT would be payable by the...