Hi all,
I've been a lurker for awhile and have found this forum to be really useful... I've got a few queries that I hope someone can answer.
If a property was sold from one spouse to another, can the recipient spouse then refinance the house to the full current market value and then claim the full tax loss on the house? As this sale is between spouses, there is no stamp duty charged.
Is there anything wrong with the above arrangement?
If not, then wouldn't it be a good idea to buy properties in one name only and then sell it to the other spouse when a property starts to become positively geared? Obviously there would be CGT involved but if the property was or had been a PPOR, it may still be worthwhile.
Rgds Magic
I've been a lurker for awhile and have found this forum to be really useful... I've got a few queries that I hope someone can answer.
If a property was sold from one spouse to another, can the recipient spouse then refinance the house to the full current market value and then claim the full tax loss on the house? As this sale is between spouses, there is no stamp duty charged.
Is there anything wrong with the above arrangement?
If not, then wouldn't it be a good idea to buy properties in one name only and then sell it to the other spouse when a property starts to become positively geared? Obviously there would be CGT involved but if the property was or had been a PPOR, it may still be worthwhile.
Rgds Magic