Buying parents house current value 400k less my share of 60k = 340k
They want to fund and build a self contained extension to the side of existing house to live in.
I Currently live in an apt that I would like to keep and rent out.
Aware that there would be SD CD of approx 15k on my apt.
Only interested in doing this above board but
15k is a lot of money for me to hand over and would like peoples opinion
on how best to approach it or is it worth doing.
Is there any tax breaks I/parents could benefit from and therefore
take the edge of the 15k CD?
Cheers.
They want to fund and build a self contained extension to the side of existing house to live in.
I Currently live in an apt that I would like to keep and rent out.
Aware that there would be SD CD of approx 15k on my apt.
Only interested in doing this above board but
15k is a lot of money for me to hand over and would like peoples opinion
on how best to approach it or is it worth doing.
Is there any tax breaks I/parents could benefit from and therefore
take the edge of the 15k CD?
Cheers.