Married couple, husband earning 45K+ PAYE income plus State Pension. Wife has no income at all in her name. In addition, Rental Property owned jointly. Currently, rental income is split 50/50 between both when filing annual return. If husband transfers ownership of the property to wife, interspousal transfer so no CGT or CAT. Following this transfer, the rental income would be 100% that of the wife's and she could avail of the 20% cut off and no USC as income will be less than €13,000. Is there any tax avoidance legislation which would prevent this being acceptable? In addition, is the name on the mortgage relevant for such a transaction, i.e. - does the mortgage have to be in the wife's name or is it okay for it to still be in the husband's name for the above to be acceptable? Thank you.
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