Hi all,
My partner and I live together but maintain separate finances. We contribute equally to rent and bills. Neither of us has owned a PPOR although we both independently owned IP's.
Now I'm looking to buy a property which will be our PPOR, at least initially. My partner plans to buy another IP and would ideally continue to pay rent to me when we live in the new property. My questions are:
1. If receiving rent, does this mean I will have to pay CGT if I sell the property in the future.
2. The FHOG web site is pretty clear that we'd be classified as a couple and are only eligible for one FHOG. This would mean that if our relationship was to end and my partner was to buy a PPOR in the future she would not be eligible yet would not have had any ownership in this property. Are there exemptions to the 'couple' rule for FHOG?
People may find it distasteful that we wish to keep our finances separately however we have our reasons, largely based on past experiences and it is very much a mutual decision.
Thanks to all who reply.
My partner and I live together but maintain separate finances. We contribute equally to rent and bills. Neither of us has owned a PPOR although we both independently owned IP's.
Now I'm looking to buy a property which will be our PPOR, at least initially. My partner plans to buy another IP and would ideally continue to pay rent to me when we live in the new property. My questions are:
1. If receiving rent, does this mean I will have to pay CGT if I sell the property in the future.
2. The FHOG web site is pretty clear that we'd be classified as a couple and are only eligible for one FHOG. This would mean that if our relationship was to end and my partner was to buy a PPOR in the future she would not be eligible yet would not have had any ownership in this property. Are there exemptions to the 'couple' rule for FHOG?
People may find it distasteful that we wish to keep our finances separately however we have our reasons, largely based on past experiences and it is very much a mutual decision.
Thanks to all who reply.