Had thought about the bank guarantee, I guess similar to a Long Term deposit Bond??? The deposit was only 5%, so 25k, bugger all really. I believe I would get the interest on that from the developer anyway. I will pass the info onto my wife anyway as she had mentioned it as well.

Cheers Paul

No hate to say she cannot claim the Stamp Duty as a Tax deduction as it is added to the Cost Base for Capital Gains Tax purposes.

Mortgage Stamp Duty is deductible as a loan cost however there is no mortgage stamp duty in Qld.

Cheers

Yours in Finance 

Hi Richard

No worries, see my above, will buy it in her name…[Read more]

I guess the end goal is to have the prop/s in my wife's name so that I don't lose half the rent in tax. It wasn't till I came on shift tonight and saw the first post by jfk_0 where he split my wife and I that the penny dropped! A bit further down TerryW confirmed that I finally saw the forest for the trees I should be able to swap the…[Read more]

I hadn't also thought about buying the property in my wife's name considering she has half the house anyway, good point! I will look into that this morning!

I'm looking at a 10 year plan and tax minimisation given I earn >200k . As I stated previously I could buy 2 now and have them paid in 10. I could buy 1 now have it paid in 5, give that to the missus then start again for another 5.

The end goal is to pay the least amount of tax I can and own both outright at the 10 year mark. In either…[Read more]

Forgot to add, the unit is in Qld and we also live in Qld.

As for would we ever purchase another house, at this stage I would say no as we a very happy with what we have & the location. Eventually we will downsize but I don't think we would move in the next 10 years. Our own house was our nest egg, no cgt to be paid we'd figured.  it's…[Read more]