My wife has a much lower income than me. We have a property investment where the title is in both our names. Is it a permissible procedure with the ATO to transfer the property title to my wife only (in Victoria there is no stamp duty for this transfer), in order to reduce the percentage of tax payable on the rental income of this property?
I should mention the property has no mortgage. Aside from standard outgoings, the rent received is income.
I should mention the property has no mortgage. Aside from standard outgoings, the rent received is income.