Hi Leonard

You cannot transfer for love and affection because your wife would not be able to claim any interest unless she borrows to acquire the property for you at market rates. Stamp duty would still be exempt in VIC.

You need to be careful how you do this or it won't be deductible.

You also will probably avoid CGT if this house was your main residence.

Is your mate a time waster? I guess an agent can decide not to deal with certain customers as long as it is not based on one of the categories of discrimination – sexual preference, religion, disability etc.

Pros

– save tax

– greater asset protection

– estate planning benefits

– loan flexibility

Cons

– complex

– costly to set up properly

– more costly to run

– stamp duty/CGT/Legals to transfer existing property

– land tax issues.

Not in QLD unless relationship breakdown.

Go long as possible because you can always pay it off early by making higher repayments or lump sums. If things get tight then you acn reduce your repauyments. If you are paying on a shorter term you don't have the same flexibility.

For structures you really need a lawyer and tax advisors. Some financial planner set up structures but you really do need a good tax advisor.

Try http://www.houseofwealth.com.au for tax and structures (disclaimer. I consult to this company).

No that is not possible unless the 'business' is a separate entity.

Obtaining an ABN and/or a business name doesn't change things as you are still a sole trader and you cannot trade with yourself.

If you want to do that sort of thing you would need to open a company or a trust. The company could then with you the individual and you could charge a fee.

Watch out for licencing. Builders need to be licenced and the license needs to be in the name of the contracting entity. There is a recent QLD case where a couple of builders opened 2 trusts which then entered into a partnership. The individuals were licensed but the trustee companies or the partnership wasn't. So the contracting party was not a licenced builder and some client refused to pay on this basis and the customer won. They also got prosecuted for not having a buidling licence.

Walton Construction (Qld) Pty Ltd v Plumber by Trade Pty Ltd & Ors [2012] QSC 264

maybe 40% LVR

This is incorrect. see s118-192 ITAA 1997.

It is best not to take tax advice from a real estate agent as it could cost you dearly.

On those numbers it is probably best to sell.

If in VIC you could sell to a spouse in full or part and avoid stamp duty. In most other states stamp duty would apply.