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1 name vs 2 names on title

Discussion in 'Legal Issues' started by Roshy, 15th Feb, 2016.

  1. Roshy

    Roshy Member

    Joined:
    12th Jul, 2015
    Posts:
    22
    Location:
    Victoria
    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
     
  2. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,588
    Location:
    Sydney or NSW or Australia
    • If it is in your wife's name, she will get the tax free threshold ($18k)
    • Separate land tax threshold
    • Lower cgt payable
     
  3. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

    Joined:
    18th Jun, 2015
    Posts:
    9,039
    Location:
    Sydney