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:
    13
    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