Thinking of giving my son $100,000 to assist with his home loan. Can I do this as a gift, and if not, and I go guarantor for his home loan and how long am I ties in as guarantor..

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bad advise bought investment property to help kids in the future now my daughter wants to buy it = CGT

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Great Article. really helpful. keep it up!

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I think it depends on how much trust there is in the relationship with your child. I know that my wife and I gave our son $50,000 to help with a home deposit but it was a LOAN not a GIFT. It workout out well in the end. We did a google and used a website to draft a straight forward loan agreement and he repaid it in accordance with that.

However, this working out depends on having a reliable kid. I wouldn't take the risk unless you knew they were good with money and would keep their promises.

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My son has an offset account for his mortgage with a bank. Can I loan him $80000 to put into this account to reduce the amount of interest he pays,. I do not receive a pension of any kind and even with this amount of money going out, I would still not be eligible for any sort of pension.

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Hi Elaine,

We wrote here about helping out your kids by putting money into their offset accounts: https://www.moneymag.com.au/parents-bank-of-mum-and-dad.

- Money team

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