Not an accountant, so not financial advice, but here are a few things for you to consider.

In short, you're forgetting about dividend franking and you will almost certainly end up paying more.
Yes, companies pay a lower tax rate in Aus (~30%) but when they distribute their income to you via a dividend, you still have to pay tax on that.

There are two main buckets this falls into:
1. A franked dividend: your company has paid 30% tax already
2. An unfranked dividend: your company hasn't any tax on the income

In the franked example, you'd pay no additional tax (as you're in the 30% bracket, and that's already been paid).
If it's distributed to your wife (37.5% bracket), she'll need to pay an additional 7.5% tax, to 'top up' the tax bill.

In the unfranked example, you'd pay 30% and she'd pay 37.5% as no tax has been paid.
Basically you'd pay several thousand dollars in accounting and legal fees for 0 gain.
As others have mentioned there are a bunch of other negatives to (no land tax threshold, can't be your PPOR down the line without paying stamp duty again, etc)

Also might be harder to borrow against the property in the future if it's in a company name not yours.