Am I subject to CGT If I added my spouse name to my investment property?

HomerSimpson

Hi Master(s),

I have one investment property under my name only. I would like to add my spouse name to the property title.  I know that Stamp Duty would be excepted, but how about CGT?

Any feedback is appreciated.

leo727

will subject to cgt
you can obtain a market value for you property at the time you make th etransfer by
- obtain a valuation from a professional valuer, or
- work out the market value yourself using reasonably objective and supportable data - such as the price paid for very similar property that was sold at the same time in the same location.

if you receive nothing for transfer of your property (for example, if you give it away as a gift), you are taken to have received the market value of the property at the time of the CGT event

above is my point of view.

water2008

agree

HomerSimpson

After researching the ATO site, I would think it indeed attracts CGT, but it's a bit odd and "unfair".
Cannot the CGT be rolled over!!!

Or actually transferring it with money involved (not by gift), but the same as the cost base?