I would imagine your answer is the same as to “Subdivision Tax Question” You would have to pay CGT on selling the back block. Your front house as PPR wouldnt attract CGT when you sell. Obviously tax would be payable on earnings from your old PPR (now IP) You can ring the tax dept. and ask all these questions and they are very obliging.

Fern

What a fantastic reply Colin, very moving. How exciting a life you have lived with trusting life will work for you, rather than “being safe” behind a desk

Fern

The Council used to tell you for free, then it was $2 (long time ago) haven’t done it for a long while and they will probably pull the old “privacy” act, but it is worth a try. Ring the Rates Department

Fern

You could also consider pinching a bit of space from the laundry if is next door – the shower could sit in the laundry with the door level with the bathroom wall or the same with a bedroom with a full wall of wardrobes. Pinch half the length of the wardrobe to make an alcove for the bath to sit in

Fern

You will have to check with the rental board (I have looked for my book and cant find it) but I think (in Victoria) you can break this lease if you want to sell or carry out major renovations – and you do. Worth a phone call to the relevant authorities in your state

Fern

Have just done one and you need engineers plans for the stormwater system which will take the 2 units (or 3). We needed two pumps @ $1000 ea (just in case one breaks down) (what if the second one breaks down!) and the most enormous pit under ground with two smaller pits up the driveway. Bank on $10,000 plus engineers plans, etc. etc.

Fern

Many moons ago I used to work for a Miss Pugh (Phew), at that age it caused us much merriment.
The best one of all though was my X used to work for Doug Thorley Viscount (big caravan company) Our mutual friend was a printer and did all the printing. On the top of a huge pile of printing Doug had ordered the first page was headed up without the…[Read more]

Good on you both, Dazzling its marvellous to have a decision validated. I’m also having a great day. The concreters are here setting up the slab for the townhouse. I thought they were going to strike huge tree roots and where was I going to get a stumpmuncher to come/hire/buy an axe etc. on Oz Day, but (touch wood) not one. The poor old…[Read more]

Just as a matter of interest I could never understand why they don’t take off in a big way and I asked my son (who is a builder/carpenter) and he said – I just prefer working with wood.

Fern

I would look into the cost of renting furniture. I’m sure you could claim this on tax. From what I’ve seen of executive rentals they are here for a year or two with a company and then move on and this furniture returned has some breakages/wear/tear on furnished apartments, particularly if they have kids. Renting would keep the furniture looking…[Read more]

Not the same thing, but a girlfriend of mine bought the management rights to an apartment building on the Gold Coast. The deal was some had already been sold by original developer to Japanese people and she was to get management fees from any others sold. Except they never seemed to sell any others and. Ts the japanese only let to their own…[Read more]

Just gut feeling (no stats to back it up), I would go for the 2 flat duplex. It wouldnt cost much more to build and I would be thinking steady rental from the people who come into town for jobs serving the tourists. With B&Bs yes there are a lot (converted dairy charm factor is good) but they seem to charge a fortune and can you get steady…[Read more]

I would seriously get up on the roof with a bucket of hot water and dishwashing liquid and a broom and give it a good clean. I would think it is only greasy smoke residue and on a shiny steel roof it will wash off.

Fern

I can’t see that they will. Everything seems steady, employment, petrol, heat out of the market, no new big developments beinbg approved. I’m sincerely hoping they have learned a lesson from other times when the Govt figures have lagged behind reality and they haven’t realised the heat has gone out of the market and have kept interest rate…[Read more]

For the old shed, you will be stunned how good a coat of paint makes it look, then cover it with a beautful fast growing flowering creeper. Be careful with the fence, it it was palings I would screw something like mini orb to it, but do not do this with asbestos. Maybe it would be cheaper to pull it down and just replace with a new paling fence.…[Read more]

Michael Yarney Yes I do realise the buying cycle as well and “know thyself” I’m not a buy & hold forever person, I like the action of developing. Having said that I would be prepared to hold for 12mths, but if there is no movement in the market my costs would negate any minor gains
With the buy well cycle though if I sell now I can also buy…[Read more]

My girlfriend’s daughter & husband have just bought a house in Grenich(?) Village America and paid $US5M, which is evidently just entry level. They don’t ever expect to own the houses, just hand them on to their children. I guess that is the way we will go here given time.

Fern

Yes, have done it and had no problems with tenants. Definitely put in a clause for access to back of property and that the driveway (to rear of property) had to be clear at all times, but tell them it will be a long time before you will be building.
As approval got closer (and with change of tenants) we put in a (secondhand) paling fence from…[Read more]

Can still remember the feeling when I stood in my own entry foyer of my first house I had bought. Had bought one with my (now) ex, but to buy my own, by myself was unbeliveably exciting. I stood in the foyer late that night after we (my daughter and I) had moved in and everyone had gone and just whirled around and thought – this is mine.
We…[Read more]

What a huge amount of work you did for your friend Dazzling. I hope he can repay you some day.
The young guys over the road desperately wanted the front windows from this place as they are doing a reno. I told them I would notify them asap when it was going down. Finally said yes they could take them, come early in the am. They finally arrived…[Read more]