Proving % ownership

Discussion in 'Accounting & Tax' started by Harry30, 16th Feb, 2021.

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  1. Harry30

    Harry30 Well-Known Member

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    Got a question from the tax office regarding the percentage ownership of a property I recently sold (property was owned jointly).

    Need to show evidence it was joint ownership. Asking the titles office for CoT does not help (as I am no longer on the title).

    Ordered a property history, but it only shows buy and sell dates and does not show previous owners.

    What is the best document to order? (Property is in VIC).
     
    Harry30, 16th Feb, 2021
    #1
  2. Paul@PAS

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

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    Online title search costs approx $10 or less. (Tip - ATO may have already done that) - If you arent on title its not jointly owned and why they are asking !!! For history of title the title search can also be requested for historical changes and not just current. Anyone can buy this search. Past history can be time limited eg 125 days
    https://www.psiglobal.com.au/content/pdf/RegisterSearchStatement.pdf - sample
    Home page search resource and order the "title history search statement" or other docs. $3.96 - $15 depending on what you need

    The sale settlement sheet from your solicitor will show you as a former owner and selling too.
     
    Last edited: 16th Feb, 2021
    Paul@PAS, 16th Feb, 2021
    #2
  3. Terry_w

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

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    the transfer
     
    Terry_w, 16th Feb, 2021
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    Harry30 likes this.
  4. Trainee

    Trainee Well-Known Member

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    Wouldnt the contract of sale have a title in it somewhere?
     
    Trainee, 16th Feb, 2021
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    Harry30 likes this.
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