Currently a husband and wife own a investment property in NSW in 50:50 ownership. Husband is a American citizen and wife is a Australian citizen ( Both are not tax residents of Australia).Now husband is transferring his 49 shares to wife and ownership becomes 99 for wife and 1 for husband. There is no consideration involved for this transfer and this ownership transfer is done for NSW land tax planning.
Questions is whether a FRACGW clearance certificate is to be obtained by husband even though the transfer is done on the basis of love and affection .
288 views
288 views6 replies
6 replies
288 views
6 replies