Divorce and separated

Discussion in 'Legal Issues' started by Re-starter, 6th Mar, 2020.

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  1. Re-starter

    Re-starter New Member

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    6th Mar, 2020
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    Melbourne
    Me and my ex wife are separated for more than a year. We would like to settle our assets amicably. I have few doubts though, hopefully you guys can shed some light.

    So we have two investment properties one in Vic and another in South Australia. Both the properties are owned jointly.

    I am going to transfer my share in Vic property to her name and she will transfer her share in Adelaide property to my name.

    Will this attract stamp duty in Vic and south Australia for respective properties

    And secondly as she is getting lot more equity in Vic property, she is paying me some lump-sum amount? Will this amount will be taxable?
     
  2. jaydee

    jaydee Well-Known Member

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    Perth
    wtf! Why would you expect some anonymous people in an online property forum to be able to advise you on legal and taxation issues relating to your divorce?

    okay I could say there will be no stamp duty or tax payable, but would that matter or be relevant to reality?
     
  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Plus Member

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    It could be x 2

    Get some legal advice
     
  4. Re-starter

    Re-starter New Member

    Joined:
    6th Mar, 2020
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    Location:
    Melbourne
    Thanks Terry

    I am taking legal Advice.

    Appointment is for late next week.

    Just thought may be you guys can shed some light.

    Anyways thanks
     
  5. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Plus Member

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    I have 2 tax tips on deductibility of interest and family law issues. See tax section

    Do you realise you won't be able to claim all the interest on your investment loans once her share transferred to you?