Australia's #1 for Law

Join 150,000 Australians every month. Ask a question, respond to a question and better understand the law today!

QLD Sell Father's House under Power of Attorney?

Discussion in 'Property Law Forum' started by Kazza, 14 March 2015.

  1. Kazza

    Kazza Member

    Joined:
    14 March 2015
    Messages:
    1
    Likes Received:
    0
    My Dad is living in a Nursing Home. (Mum has passed away.) We (5 siblings) are discussing selling his house with all profit going to Dad's bank account.

    Will Dad need to declare his income from the bank interest he will earn? (ie will be need to put in a tax return?)

    Can all dealings with real estate be done legally by his Power of Attorney or will Dad need to sign paperwork?
     
  2. Paul Cott

    Paul Cott Well-Known Member
    LawTap Verified Lawyer

    Joined:
    26 May 2014
    Messages:
    164
    Likes Received:
    68
    Kazza,

    He will probably earn below the threshold required to submit a return. I would call the ATO to confirm.

    If there is a financial POA that should be sufficient to allow the real estate dealing.
     
Loading...

Share This Page

Loading...
gt;