Does anyone have experience transferring property to family after marriage breakdown? I am filling in the OSR forms to pass some of my IPs to my husband and daughter, and want to know if it's all so simple as it seems. Is the CGT event dated from the OSR form or the agreement. I drew up our property agreement on my own; is this allowed?
Also - the ATO told me my daughter's rental income will be NOT taxed at the kids rate, which is a massive bonus - as she is an exempted person. Children can be exempted from kids tax for various reasons, including this, having worked 30hr/wk for 3m, and being disabled - anyone aware of this?
TIA
Also - the ATO told me my daughter's rental income will be NOT taxed at the kids rate, which is a massive bonus - as she is an exempted person. Children can be exempted from kids tax for various reasons, including this, having worked 30hr/wk for 3m, and being disabled - anyone aware of this?
TIA