Hi all,
Appreciate any guidance.
-My non resident brother plans to invest in an established home in Australia for which he will trabsfer 100k to myself. I am helping him by taking the house in my name and eventually transferring in his name in 2 years once he esides here.
Question -
- Is there any TAX issue/implications for using overseas funds to invest for myself ?
- Would I pay capital gain tax when I trnasfer the house to my brothers name in 2 years?
- Would there be transfer fees ?
- As I personaly have 2 investment properties would it affect me in any means
Sorry if my question is confusing. Appreciate your help.
Melv.
Appreciate any guidance.
-My non resident brother plans to invest in an established home in Australia for which he will trabsfer 100k to myself. I am helping him by taking the house in my name and eventually transferring in his name in 2 years once he esides here.
Question -
- Is there any TAX issue/implications for using overseas funds to invest for myself ?
- Would I pay capital gain tax when I trnasfer the house to my brothers name in 2 years?
- Would there be transfer fees ?
- As I personaly have 2 investment properties would it affect me in any means
Sorry if my question is confusing. Appreciate your help.
Melv.