If yes, how?
My son, 35, owns two residential properties, in Ormond and Glenhuntly, Victoria which have been rented. He wants to sell his Glenhuntly property to his mom, as a gift, without taking any cent from her. Can he do that? If yes, how? We presume, he will have to pay capital gain tax on the market value of his Glenhuntly house, plus Stamp Duty. But can the transfer of house be cashless? Thanks
Occasionally there are a few posters from Australia, but I don't believe there are any regular posters who are in Australia.
What you might try as a starter would be a process similar to here in America. If you have law schools with free legal clinics, or estate planning clinics, you could ask their advice, just as a starter to answer your basic questions.
Senior centers here also have free legal question and answer days for elders. Sometimes these days are weekly, sometimes biweekly.
We also have an Area Agency on Aging which holds caregiving expos annually, at which there are always at least 2 - 3 elder law firms offering free coupons for an hour's worth of free legal advice. I collect coupons from each one, and if necessary, I could get 2 - 3 hours worth of free advice.
These might help you at least get some limited answers to your basic questions.
Good luck, "Mate"!
If you're in Victoria, BC, this is a question for one of the Canadian women here or an attorney, especially as to the cap gain and "stamp duty" issues.
In Michigan, an intra family transfer can be made for a nominal transfer tax value (perhaps the same as "stamp duty"), but my only experience with this method has been to convey property to a trust.
There might be a similar statute in BC.
But I don't understand what the relationship of your son is to you if you're not his mother. Is he your step son? What am I missing???