PPOR under husband / wife / joint names on title

Discussion in 'Accounting & Tax' started by Jacko, 13th Apr, 2022.

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  1. Jacko

    Jacko Well-Known Member

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    Hi all,

    What are the factors to consider to decide whose name/s should be on the title when purchasing a PPOR?

    Cheers
     
    Jacko, 13th Apr, 2022
    #1
  2. Trainee

    Trainee Well-Known Member

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    What happens if you move and make it an IP?
     
    Trainee, 13th Apr, 2022
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  3. Jacko

    Jacko Well-Known Member

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    Good question I don't know the exact implications for.

    However, if we do move, I expect we would sell it rather than lease it out as IP.
     
    Jacko, 13th Apr, 2022
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  4. Scott No Mates

    Scott No Mates Well-Known Member

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    There's your answer - it's not an issue unless you or your partner has a high risk of getting sued.
     
    Scott No Mates, 13th Apr, 2022
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  5. Terry_w

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

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    land tax
    asset protection
    estate planning
    control
    spouse going rogue
    income tax
    ability to transfer without duty in the future
    finance now and in future
    deductibility of interest
    main residence exemption
    CGT at death
    etc
     
    Terry_w, 13th Apr, 2022
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  6. Jacko

    Jacko Well-Known Member

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    Surely not all of these factors are applicable to PPOR?
     
    Jacko, 13th Apr, 2022
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  7. Terry_w

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

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    They all are - what if it is rented or not exempt?
     
    Terry_w, 13th Apr, 2022
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  8. Ross Forrester

    Ross Forrester Well-Known Member

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    The house I live in is owned by my wife. We did that for asset protection as I am in a high risk profession. And we will never rent out our current home - we will either sell it or live in it forever.

    Our estate planning is relatively simple as we have only one kid.

    However my decision may not be the right one for you.
     
    Ross Forrester, 13th Apr, 2022
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  9. Jacko

    Jacko Well-Known Member

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    Thanks all, appreciate your feedback!
     
    Jacko, 14th Apr, 2022
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  10. Stoffo

    Stoffo Well-Known Member

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    So on a public forum :confused:
    *Edit
     
    Stoffo, 14th Apr, 2022
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  11. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    If you think its a risk for Ross to say "our current home" and his wife owns it thats irrelevant. A home can be leased, free of charge or owned by one party to a relationship. Ross has no legal title. A property need not be owned by any or all occupants to be a home.
     
    Paul@PAS, 19th Apr, 2022
    #11
  12. Mike A

    Mike A Well-Known Member

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    a title search would show it anyway. not sure why making the statement on a public forum is an issue.
     
    Mike A, 19th Apr, 2022
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  13. Mike A

    Mike A Well-Known Member

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    Mike A, 19th Apr, 2022
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  14. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Vestey Trust will solve all problems. ;)
     
    Paul@PAS, 19th Apr, 2022
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