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Tax on house purchase

antodeco · 2014-07-13 20:26:23

Hi all, My wife is going to be "purchasing" her family home from her father. They have lived there all their lives and will continue to do so after the sale. However, rather than paying the full price, she is paying a significant amount less. She is in effect buying out her brothers share of the house. What are the tax…

13-07-2014 8:26pm

#1

antodeco

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Hi all,
My wife is going to be "purchasing" her family home from her father. They have lived there all their lives and will continue to do so after the sale. However, rather than paying the full price, she is paying a significant amount less. She is in effect buying out her brothers share of the house.

What are the tax implications, if any?

Thanks

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#2 13-07-2014 9:47pm

Mr. Incognito

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Please read the charter.

Tax advice on property is not something you should seek on an internet forum.

Hire a professional.

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