I found this link, my limited accounting mind has me not sure how to interpret this….

http://law.ato.gov.au/atolaw/view.htm?locid=txd/td973/nat/ato

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]

I’m in Melbournes eastern suburbs, is there a website you could suggest Colin.

Cheers

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]

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]

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.

Cheers

Property settlement costs – Bank loan costs, Conveyancer costs, Buyers advocate fees….

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?

Cheers

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]

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?

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]

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

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]

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]

Cheer

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]

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]

I have a property that I need to get renovated at short notice.

And need to get renovation quotation – signed to contract very soon.

I have received a quotation, and am wondering how I could best judge if it is fair and at a reasonable price?

Reno of good sized 2 bedroom unit, to a higher that average quality finish.
New bathroom, new…[Read more]

I may be a little ignorant with how things work in the legal fraternity.

I sought some initial direction / options regarding how I may proceed with some legal advice/opinion from a cold call/email to a legal firm.

I am wondering is it expected that the client should automatically expect that if speaking to a legal firm / solicitor that a…[Read more]

Just wanting to verify…

1. If I have a property (A) with a loan / mortgage with the ANZ.
2. My mortgage broker is using the equity in the property (A) to get a new loan from NAB to buy a new property (B).

Q. I assume this is all ok? …..leading to
Q. As its just the equity in the property (A) that I’m using for new loan (B) is that…[Read more]

looks like I will have to do a little more research

I was thinking the same as you but my loans broker explained it as above in my first post, and a work colleague believes their equity / investment loan works the same…….?

A silly Q,

Example – have equity of 200k

Look to purchase new investment property of 600k total.

Does that mean my Total new loan from bank will only be 400k or 600k

ie: the 200k equity is the safety net ….

And I will only have to make fortnightly repayments based on 400k … yes??

I’m wondering if those in the know can answer or where the best source of an answer would be regarding

At what part of the clock / cycle is the building industry at…

ie: is it on the up, or down – would building costs / quotes from builders be lower or higher at the moment….

Am I best to build NOW or wait a year or 2….

Much Thanks

Anyone recommend a great financial advisor / skilled in investment properties in Melbournes Eastern suburbs – Ringwood area…

I am after someone who can provide investment projection scenarios of 10/15/20 year plans against a few investment properties and potential development of said properties and consideration of superfunds.

Looking at…[Read more]

I have a bungalow (living room kitchen and a seperate bedroom/bathroom)

There are 2 built in heaters in the living area, but nothing in the bedroom.

1. Should the landlord pay to have a heater installed in the bedroom.?
2. Should the landlord pay to provide a portable heater in the bedroom?
3. Should the tenant pay for their own heater in…[Read more]

that info is helpful

I just went and measured the driveway width – and its bang on 3metres wide – so I can tell council – no rebuild necessary!! woohoo

The Bungalow and house are all the one structure, but have there own separate external access doors and cannot be accessed between each other by an internal door.

Could you elaborate on the last comment "if council is not aware that the bungalow is a dwelling in its own right, that could open up its own separate can of worms"….?

I…[Read more]

Cheers

Goes to show – speaking to the ATO over the ph – they're not always right, would want it in writing

Good news – The bank has come through with a deposit loan – so no mixing – woohoo

cheers

pardon my ignorance – when you say split the loan into 2 accounts?? is that like a variable portion and a fixed portion scenario – 1 account where a would claim Neg gearing and the other part of the loan where i would'nt – should i wish to redraw for personal exp…..

Would only redraw likely for other investment purposes.  The bank…[Read more]