Hi All My wife and I are looking to buy an IP. I currently work, while my wife stays home and looks after the children. I recently got a pre approval for myself only. Since then, my wife and I have been thinking about of putting 2 names on the loan/title. Even if my wife doesn't earn income, are there any real benefits of adding my wife to the loan/title as oppose to having a single title? Thanks
If it is in your wife's name, she will get the tax free threshold ($18k) Separate land tax threshold Lower cgt payable
See a few tax, legal and lending issues I have written about at; Tax Tip 47: Spousal Loans as a Tax Strategy Tax Tip 21: Tax Advantages of Buying property in 1 name only Tax Tip 24: Capitalising Interest and Non working spouses Tax Tip 31: Should I buy in my name because I earn more money and can claim more? https://propertychat.com.au/community/threads/legal-tip-38-spousal-and-related-party-loans.1872/ Legal Tip 68: Avoid 99%/1% ownership of property Legal Tip 84: Caveats on property owned by Spouses Strategy: Buying Investment Properties in 1 name only
