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[个人所得税] Tax on transfering property from joint-tenant to single [复制链接]

发表于 2016-11-14 11:26 |显示全部楼层
此文章由 jshubo 原创或转贴,不代表本站立场和观点,版权归 oursteps.com.au 和作者 jshubo 所有!转贴必须注明作者、出处和本声明,并保持内容完整
A and B bought property A 3 years ago for 400k, both A and B claim the tax deduction of the loan interest of 200k each. Property is worth 600k now. what happen is A buy B's 50% share and now property only belong to A.

B will pay capital gain tax based on the capital gain (600k-400k)*50%*50%=50k
A will pay stamp duty on 600k/2=300k amount. and increase the loan to 200k+300k=500k. A can now claim tax deduction on the loan interest of 500k

Is it look correct?

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发表于 2016-11-14 12:11 |显示全部楼层
此文章由 jeff_lawsons 原创或转贴,不代表本站立场和观点,版权归 oursteps.com.au 和作者 jeff_lawsons 所有!转贴必须注明作者、出处和本声明,并保持内容完整
All look good to me.

Note that if the title is transferred to one name, the deductibility of interest on the loan would be with the legal owner regardless in who's name is the loan. Therefore, for tax purposes, it will not be necessary to change the loan from joint names to one name.

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