Ive done something stupid I recently changed my house to add my brothers name so that i will be able to refinance more cash, its only been 1 month, I realised i dont need him on my title the problem is i have already paid stamp duty for his half, and to take him off i need to pay again. Is there anyway around this, Could he create a letter for the stamp duty office and state that its not for sales purpose and purely a mistake and he just wants his name off the title etc
too late i beleive
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
You don’t even need him on title to borrow. You could have had him as guarantor or even co-borrower.
Yes i know im stupid im new to all this… i just wish i found out before, now its doing my head in thinking every tax return has to include him then he has to give me the money once the return has been done
Andrew,
You are not stupid, but were misguided, that often happens in life, where there is a will there is a way, try this to get you out of trouble……
Try this: OSR Ruling 30 Section 55 part 1 (
(11) -Read below, All you require is a paper trail as required at the end of this section,(b) a transfer of dutiable property from an apparent purchaser to the real
purchaser if:
(i) the dutiable property is property, or part of property, vested in the apparent
purchaser upon trust for the real purchaser, and
(ii) the real purchaser provided the money for the purchase of the dutiable
property and for any improvements made to the dutiable property after the
purchase.
Excellent! will do
(11) -Read below, All you require is a paper trail as required at the end of this section,You must be logged in to reply to this topic. If you don't have an account, you can register here.
