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Thread: Real Estate Capital Gain, transfer ownership to wife to pay less tax?

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    Default Real Estate Capital Gain, transfer ownership to wife to pay less tax?

    Googling around to see if there are any angles to reduce capital gains tax, came across website that recommended putting the ownership in spouse's name, if their income is less, to reduce margin tax rate.

    Is this allowed? Is it effective?

    Any suggested strategies to reduce tax payable on investment property sale?
    My Karma ran over your Dogma

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    You're an 03, you ought to know what is coming next....
    Last edited by Buster; 04-05-2021 at 10:40 AM.

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    I have no idea what's coming next. Wish I was an '03.

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    Whats coming next
    Originally posted by GTS Jeff
    You know those bored stay at home moms who's entire lives revolve around driving their kids to soccer, various cleaning accessories, and worrying about neighbourhood rapists? The kind of people that watch the View and go "uh huh..." Those unfulfilled people who try to fill the void in their empty lives by writing whiny letters to the editor complaining about shit that no one really cares about?

    Well imagine if instead of writing that letter to the editor, she just posts on a car forum for car enthusiasts. That's Kritafo.

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    Coming soon...

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    My accountant said there's no advantage to transferring to wife's name. That idea dead.

    Guess there's no way to decrease tax rate....
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    Quote Originally Posted by Buster View Post
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    You're an 03, you ought to know what is coming next....
    All his belongings sitting out on her lawn?

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    Appreciating assets stay with you

    Depreciating assets go to wife.

    Profit

    @Buster did I win?

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    Quote Originally Posted by Darell_n View Post
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    All his belongings sitting out on her lawn?
    Quote Originally Posted by dj_rice View Post
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    Whats coming next
    Quote Originally Posted by cjblair View Post
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    I have no idea what's coming next. Wish I was an '03.
    Quote Originally Posted by brucebanner View Post
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    Appreciating assets stay with you

    Depreciating assets go to wife.

    Profit

    @Buster did I win?
    Post pics of wife

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    Quote Originally Posted by Buster View Post
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    Post pics of wife
    Oh we've all seen those already in Ask Leo.

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    I should've gone with the simple answer lol

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    Quote Originally Posted by Buster View Post
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    Post pics of wife
    They failed.

    Fucking ‘09s

    Even if they’re not, 09s were the worst hahaha
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    -H.P. Lovecraft

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    Quote Originally Posted by Darkane View Post
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    They failed.

    Fucking ‘09s

    Even if they’re not, 09s were the worst hahaha
    I thought it was the 08's.
    Originally posted by SJW
    Once again another useless post by JRSCOOLDUDE.
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    Quote Originally Posted by JRSC00LUDE View Post
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    I thought it was the 08's.
    08's are definitely the worst.

    For OP, sounds like you need to talk to an accountant. These types of questions are common conversations I have with my account but turns out my POG collection isn't valuable enough to worry about. Either way, she said all those loop holes were basically axed so there isn't many "tricks" to drastically reduce taxes that are above board anymore.
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    Meh, they all look like Jackie Chan to me
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