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Loan in maiden name, Investment in married name

Discussion in 'Accounting & Tax' started by chylld, 24th Jun, 2016.

  1. chylld

    chylld Well-Known Member

    Joined:
    25th Jun, 2015
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    Location:
    Sydney
    My accountant is on leave atm so calling on the collective PC knowledge for some simple clarification.

    We have some managed funds in my wife's married name but financed out of a borrowing in her maiden name. Will this cause any tax complications? i.e. will interest still be deductible?
     
  2. Blacky

    Blacky Well-Known Member

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    Location:
    Bali
    1) nope
    2) yep

    She is still the same person.
    Its not hard to change her name with the bank. Just take in the marriage cert and some ID in her new name (updated passport/drivers licence).
    Some banks even let you do it without visiting the branch.

    Blacky


     
  3. chylld

    chylld Well-Known Member

    Joined:
    25th Jun, 2015
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    595
    Location:
    Sydney
    Cheers Blacky. Just got the form from the bank, marriage cert and stat dec is all that's required... good to know there's no rush to do it though.
     
  4. JacM

    JacM VIC Buyer's Agent Business Member

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    12th Jul, 2015
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    Location:
    Melbourne, Australia
    If the bank has your tax file number recorded, that's unique identifier irrespective of what you've changed your name to. ;)