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Using equity to buy another investment property

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new investor99 | 22 Jun 2016, 08:07 PM Agree 0
Hi, can my wife who has an investment property under her name only refinance her loan and give the equity to invest in an investment property under my name only without any tax issues? I would like to put it under my name to lower my taxable income.
  • Aanche | 21 Sep 2016, 03:20 PM Agree 0
    No, she cannot refinance and pass the funds to you, however she can extract the equity and then gift you the funds this will need to be a formal written gift stating she will not ask for the money back.

    Once she does this then you will have to keep the funds in you account for a minimum of three months to satisfy the genuine savings criteria and then you may apply for a loan provided you can service it.
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