Jennifer Adams looks at different methods and tax implications of parents buying property for children.
Buying property for children can be a strategic way to secure their financial future. However, it is essential to understand the various methods available, and their associated tax implications.
There are several ways parents can help their children buy their own home, for example:
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parents purchasing the property outright or jointly with the child;
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gifted deposit;
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a loan;
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placing the property in trust; or
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buying via a company.
1. Buying outright or jointly
If the parent buys the,
