When it comes to gifting property as a way of helping your children, there are several options.
You can provide money for a deposit or part-pay a loan. If you gift a deposit to your children, there may be impacts to your Centrelink benefits—the Department of Human Services has more information about the impact of gifting on your benefits.
There are options for buying property in a child’s name too, but it’s a complex topic. If you’re considering buying a property in your child’s name, we recommend that you seek specific legal advice from a specialist in this area.
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It’s important to consider your particular circumstances and read the relevant Product Disclosure Statement or Terms and Conditions before deciding what’s right for you. This information hasn’t taken your circumstances into account.
This information is provided by AMP Life Limited. Read our Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you. All information on this website is subject to change without notice.