Our apartment in HK is co-owned by 3 family members in the following proportions-
It's a 3 bedroom apartment occupied by me and my wife. Our son would like to rent a room in the house.
Can it be possible that my son signs a rental agreement only with my wife's share of the house? My wife has no other income, so this rental income under her name will be tax free if she elects for personal assessment.
Another question, what would be the cost of giving away my proportion of the ownership to my wife? I know that lawyer's cost will about HK$10k. What are the other costs? Can I gift it to her to avoid the stamp duty?