want to know what is the best way of changing an asset from joint ownership to single ownership.
For the sake of an example say CBA is owned in joint names and there is a large (100%) capital gain on the shares. If one wanted to change the ownership of the shares to only one person without paying all that tax what is the best way?
Could you transfer the holding to the single name and the second person would be the only one liable for CGT? would the second half of the holding then be seen as a new aquistion?
Could the second person just sell there half of the shares leaving you with your half?