darkness72 replied to the topic How is the buy price aportioned for a subdivision when calculating CGT in the forum Legal & Accounting 3 years, 7 months ago
I found this link, my limited accounting mind has me not sure how to interpret this….
darkness72 started the topic How is the buy price aportioned for a subdivision when calculating CGT in the forum Legal & Accounting 3 years, 7 months ago
Apologies if you have seen this Q on another forum, I’m hoping for a quick basic answer
I’m trying to chase my accountant for an answer but I need a ball park figure re CGT
example – I purchase property for 500k
– I subdivide property in 1/2, front existing house, and build new house on back 1/2 for 300k
– I plan to imminently sell the front…[Read more]
darkness72 replied to the topic Like minded investors / small property developers – think tank group? in the forum Help Needed! 3 years, 7 months ago
That sounds like the right type of thing :)
I’m in Melbournes eastern suburbs, is there a website you could suggest Colin.
darkness72 started the topic Like minded investors / small property developers – think tank group? in the forum Help Needed! 3 years, 7 months ago
I’m wondering if there are any like minded property investors / moreso property developer forum / group chat / think tank groups out there.
I’m not a big company property developer, just mum and dad investor with a regular job – but have been studying hard over the years, and hope to start a 3/4 townhouse development soon, and wondering if…[Read more]
darkness72 started the topic Big Bank – no help regarding early break fee of fixed loan!! in the forum Help Needed! 3 years, 7 months ago
I spoke with one of the big banks today, regarding the early break fee department – who could’nt / would’nt help me or give me some semblence of an idea how much there fees could be if we pay out our fixed loan early.
Currently have 5 months to go and if breaking with the loan today they say I’ll owe $3040 in early break fees.
I have no idea if I…[Read more]
darkness72 started the topic removing cladding and fixing weatherboards worth it – to sell in the forum Value Adding 3 years, 7 months ago
If one was to sell a house that had the fake plastic weatherboard cladding.
And real actual weatherboards are underneath, should one spend the money to remove the cladding and fix / paint the weatherboards underneath…
How much more value would real weatherboards add to a properties sales price vs fake plastic cladding.
darkness72 replied to the topic Can I claim these expenses at tax time for rental properties ? in the forum Legal & Accounting 3 years, 8 months ago
Much thanks for the link
darkness72 started the topic Can I claim these expenses at tax time for rental properties ? in the forum Legal & Accounting 3 years, 8 months ago
sorry I’m a bit unsure if I should claim these expenses at tax time or are they added to the cost base of the rental property
Property settlement costs – Bank loan costs, Conveyancer costs, Buyers advocate fees….
darkness72 started the topic can I claim depreciation on brand new property, no tenant yet in the forum Help Needed! 3 years, 9 months ago
Can I claim depreciation on a brand new built property that finished 2 weeks ago.
We have been advertising and are yet to have a tenant signed up.
Is depreciation calculated from when you first have a tenant, or when the property build is completed? Can I claim depreciation for the 2015/16 financial year?
I am wanting to figure out the rough CGT on an investment property, that I have subdivided / split in 2.
If I am looking at selling 1 property, for the calculations do I basically cut the original purchase price in half, or is it a % of how much of the land is split against each of the 2 blocks….
If I’m looking at selling the front…[Read more]
darkness72 started the topic taking possession of newly built investment property B4 31 June? in the forum Help Needed! 3 years, 9 months ago
Wondering if there are any general advantages / tax consideration regarding taking iminent possession of a newly built investment property we have had our builder building before or after the financial year? which would be better, or does it not really matter?
darkness72 started the topic Council want me to paint my driveway subdivision different colours??!! in the forum Help Needed! 3 years, 9 months ago
I have a 2 home – splitter block and council have put in the planning permit that I paint / colour the driveway that peels off to the front dwelling a different colour to the main driveway that continues down to the rear new house.
I think it will look ugly, unappealing etc, but they are adament that this has to be done, has anyone heard of…[Read more]
darkness72 replied to the topic Can my subdivision – new dwelling be easily set up as a trust? in the forum Help Needed! 3 years, 10 months ago
Shall do Terry,
By ownership change – would that be deemed to occur in this instance – If I, wife & kids are the beneficiaries of the ‘trust’ for where the whole property (prior to subdivision) has been in our names to date
darkness72 started the topic Can my subdivision – new dwelling be easily set up as a trust? in the forum Help Needed! 3 years, 10 months ago
Just wondering if for this scenario:
Have existing house which is being subdivided.
– New dwelling being built at the rear
– new dwelling has been funded through equity of existing dwelling and other property.
– When subdivision paperwork has all been approved / adjustment of titles.
Can I set this new dwelling up in a property investor trust,…[Read more]
darkness72 started the topic Land tax – subdivision calculation / payment of dues in the forum Help Needed! 3 years, 11 months ago
Just wondering how Land tax works with this scenario:
Have an existing property that is being subdivided into 2 lots over the coming months.
Plan to sell one of the lots and keep the other.
– Would SRO Vic likely just split my current land tax fees evenly between the 2 lots, or would they recalculate and revalue upwards the value of…[Read more]
If I am keeping the newly built dwelling – I plan to keep it permanently as a rental property – Am I right in saying that eliminates the need to consider / factor GST.
I have had a rental property for 5 years,
I Have recently commenced subdivision permit process for the block.
I am currently building a new dwelling at the rear of the property that I plan to keep.
I am financially strained and want to sell the front, long existing dwelling.
I am wondering even though I have had the property for 5 years, if…[Read more]
I know there is a lot more to this question, but I’m after a basic / quick understanding.
example – I buy an investment property for 200k
I sell the property years later for 300k
I claim the 50% discount (having owned the property for over 12 months)
I factor in the $28k of stamp duty b4 or after the 50% discount….
example – 100k…[Read more]
This question is inderictly about our investment property….
Were about to commence an action through VCAT
Bathroom tiling disaster which the tiling layer mucked up our bathroom through poor workmanship (permanently stained tiles between leaving grout on too long and using hydrochloric acid to remove grout residue).
The tile layer is blaming…[Read more]
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