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  • Profile photo of showbagsshowbags
    Member
    @showbags
    Join Date: 2005
    Post Count: 10
    March 2, 2005 - 1:20 am

    Jo,

    Thanks for following up on that, I did exactly the same thing yesterday and was told we could achieve this without any duty. I really appreciate your input.

    Woodsman,
    thanks also for your help and YES, the plan is back on. I fiqure the price of our house will double in 7-8 years, holding costs will be marginal (taking into account tax deductions) so as I know the house, it’s solid and sound, I can’t see where we can go wrong.

    Profile photo of showbagsshowbags
    Member
    @showbags
    Join Date: 2005
    Post Count: 10
    March 1, 2005 - 7:12 am

    Jo,

    Really, that rule is no longer…… I am suprised, there goes that plan then. There is little use if we have to incurr that nasty duty!!!
    Are you sure?,

    Profile photo of showbagsshowbags
    Member
    @showbags
    Join Date: 2005
    Post Count: 10
    March 1, 2005 - 6:24 am

    Easymoney,

    It is not my first home so the first owners grant will not apply, thanks for the idea though. The divide and multiply is great but we (particually my wife) want our dream home first.

    Profile photo of showbagsshowbags
    Member
    @showbags
    Join Date: 2005
    Post Count: 10
    March 1, 2005 - 6:19 am

    Hi Simon,

    You mention it will be a costly exercise, how so may I ask? As I understand it, there is no duties between property trasactions between spouse’s. All I thought I would need to do is transfer the title, extract the equity and borrow in my name the full amount. Then, I thought all expenses would be a deduction.

    Profile photo of showbagsshowbags
    Member
    @showbags
    Join Date: 2005
    Post Count: 10
    March 1, 2005 - 5:12 am

    sen,

    No, i attended here in Melboure and it was No Charge. I guess I like the principals involved although I’m not sure I like the idea of only buying thier propertys on thier terms. I just would like to be more hands on. What I was impressed with was the presenters proffesional approach and no pressure selling. I think I will keep looking/buying/developing under my own steam.

    Profile photo of showbagsshowbags
    Member
    @showbags
    Join Date: 2005
    Post Count: 10
    February 8, 2005 - 7:54 am

    Thanks Sharon,

    that makes perfect sense. I really like the idea of keeping these IP’s seperate.
    Thanks again for your advice.

    Cheers

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