Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature currently requires accessing the site using the built-in Safari browser.
Originally posted by AlexE
Hi all!!
My brother and I inherited a house from our parents 50-50.
My question is that if I offer my brother to buy his 50% and borrow that 50%, would the interest on that loan be tax dedactable? And would the property be regarded as IP or what?
Regards
Alex
Originally posted by AlexE
To answer your questions,yes it was bought pre CGT and it was PPOR.
Now my next question is another senario:
What if the situation was between my wife and her brother?
Lets say that they arrived on the value of the house e.g 200k. Now if I come in to the party to bay the property off them, under my name but get a loan on both names my wifes and mine, would that be a good move or not? Will they have to pay any CGT after it sold?