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Capital gain tax. Any ways to avoid??
rob_rossi_46
Posts: 2 Newbie
in Cutting tax
my mother is looking to purchase a property for myself and after a year when i can get a mortgage i will buy it back off her for the same price.
although in this time i will have renovated the house and increased the value.
how can i avoid tax etc?
could my mother buy the house and the deeds be in my name? then i take out a mortgage against the house that would now be worth 40-50,000 more for the original smaller amount?
would this be a gift etc?
any help will be appreciated.
although in this time i will have renovated the house and increased the value.
how can i avoid tax etc?
could my mother buy the house and the deeds be in my name? then i take out a mortgage against the house that would now be worth 40-50,000 more for the original smaller amount?
would this be a gift etc?
any help will be appreciated.
0
Comments
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With that plan
You won't have any CGT tax. you don't own anything
easiest way is mother gifts/loans you the money you buy a house
Why can't you get a mortgage now0
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