My mum has been renting our home for 19 years and has a right to buy, but not the funds. I have recently returned from overseas and am now living with mum as I am unable to fund a mortgage on a new house.
We have dicussed buying her house. I would provide the funds via a loan not mortgage. But the house would be in mums name to buy at a discounted rate from the Housing Authority.
Mum would remain in the property I would hope to move overseas again in 3 years permanently. I hope to buy a property overseas at this time.
Could somebody please advise me of the best means of managing tax for both of us on this property as a long term investment for me and a life time benefit to mum?
Many thanks, Prishita
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