Buying a home remains out of reach for a lot of young people and many find themselves living under their parents’ roof for longer. Aside from the support of the ‘bank of mum and dad’ for a deposit, families often consider shared ownership of a property between two generations.

This includes buying a new home for the adult child, buying a bigger family house for all to share or, in some cases, buying an investment property for their child. Whilst the intentions may be well-meaning, the tax implications may not be appreciated until it is too late.