I am not an accountant, but here are my answers

1. maybe. I would suggest you avoid joint loans completely.
2. not so clear cut because you would be borrowing to pay out a spouse’s share of the loan and she didn’t use her loan to purchase an income producing asset.
3. depends how you transfer. Assuming your loan was deductible to yourself in full and assuming sell your 50% to your spouse, you would only be able to claim half of the interest. You cannot claim the other half as it relates to a part you no longer own. However if your spouse borrows to buy your 50% she may be able to claim the interest on this loan. If you transfer without consideration then she will not be able to claim any interest.

4. Yes. Transfer is a CGT event.

The land under the second house would not have been the main residence since its acquisition.

The 1 year only relates to the 50% CGT discount – which would be calculated from the date the land was acquired usually.

There is a VIC case, from memory, where the SRO took on a person in a situation like this, based on the amount of electricty usage.

I suggest you read the act in full. You are not being prosecuted at this stage, and they may not be able to prosecute because of time limits.

The accountant is wrong.

The 6 year rule relates to absences.

where you split the land of the PPOR and end up with 2 houses the main residence exemption can only apply to one of those houses at any point in time. The portion of the land and construction cost for the new house cannot be eligible for the main residence exemption (until after living in it) as you would have already claimed this on the other property. section 118-110 of the ITAA 1997.

A new house sold within 5 years may result in GST being payable, but this is a different issue.

Commercial. Substantially renovated property. residential in some instances can all be subject to GST.

If the property is residential housing, not new, then GST probably won’t apply. Best to ask the vendor to remove the clause if that is the case.

I have read that book and found it so full of holes it is not funny. The author doesn’t appear to be a lawyer and completely misses many areas that need considering while making mistakes various aspects that she does mention. I wouldn’t recommend it.

If the property is subject to GST then you would have to pay the vendors 10% extra. an extra $50k in your example possibly.

You had better seek legal advice before signing this.

If you can sell and make money then it may be worth considering, but there is a fair bit of risk involved. What if values drop and you cannot sell for example.

I think you probably couldn’t claim the interest until the property is sold.

1. GST would generally be calcuated on the sale price of the property while it is new.
There may GST inputs you can claim.

2. Depends on the circumstances. If your intention is to build and sell then the interest would be a capital expense.