Need some advice on new purchase title

Discussion in 'Investment Strategy' started by JohnE, 21st Jan, 2019.

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  1. JohnE

    JohnE Member

    Joined:
    23rd Aug, 2018
    Posts:
    14
    Location:
    SA
    Hi all,

    We have got a PROR under joint name (wife and I) and 2 IPs (1 joint name, 1 under my name). All 3 properties have got land value of 350K each. We are thinking of buying a new house of around 800k to live in and turn our current PROR into an IP.

    Option1.
    Buy the new house under wife's name - once our current PROP is turned into IP, we will have to pay land tax based on 700K (350K + 350K)

    Option2.
    Change my current PROP title to my wife, buy the new house under joint name, no land tax will be paid. I think stamp duty is exempted in this type of transfer as well.

    Or Option 3?

    Any advice will be appreciated. We are in SA btw

    Thanks
    John
     
    JohnE, 21st Jan, 2019
    #1
  2. JohnE

    JohnE Member

    Joined:
    23rd Aug, 2018
    Posts:
    14
    Location:
    SA
    Please delete this post
     
    JohnE, 1st Mar, 2019
    #2