Hi
Any thoughts on the positive or negative of a spousal sale for our situation.
We would like to move into our IP on the gold coast. We have a unit in Tannum Sands which is our PPOR have it on the market at the moment because we would like to lower our non-deductible debt once we move into IP.
Here are some figures
IP on Gold Coast mortgage $664,000
Value $730,000
Held in both names
PPOR in Tannum Sands mortgage $90,000
Value $335,000
Held only in partners name who is not working due to little ones
This would be CGT exempt if sold
Potential rent $400/week
If my partner sold it from her name into mine stamp duty would roughly be $10,000.
Any thoughts on this structure????
Thanks
Any thoughts on the positive or negative of a spousal sale for our situation.
We would like to move into our IP on the gold coast. We have a unit in Tannum Sands which is our PPOR have it on the market at the moment because we would like to lower our non-deductible debt once we move into IP.
Here are some figures
IP on Gold Coast mortgage $664,000
Value $730,000
Held in both names
PPOR in Tannum Sands mortgage $90,000
Value $335,000
Held only in partners name who is not working due to little ones
This would be CGT exempt if sold
Potential rent $400/week
If my partner sold it from her name into mine stamp duty would roughly be $10,000.
Any thoughts on this structure????
Thanks