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I have recently just encountered the same thing. I am starting a new job in a bit over a week.
My fiance and I signed a contract on a property just over two weeks ago and when the bank rang to confirm my employment, they found out that I had given my notice and even though I was going to another job, they said no. I even provided the employment contract for new job but they still viewed it as too risky.
I rang around another few banks with the same answer.
In hindsight though, I think that it probably is for the best. When you are on probation you can be fired with no notice. On the off-chance that you did get fired, imagine the trouble you would be in if you had just taken out a mortage!
So I guess its just a matter of waiting for the 3 months to be over…
I have lived in Toowoomba most of my life. Im happy to help you out with any questions you may have about the area.
Any capital improvements made to the property (as opposed to repairs) will be added on to the purchase price, as will any stamp duty, legal fees etc incurred when purchasing the property. This will make your cost base.
Similarily, any agents commission, legal costs etc will be taken away from the selling price. So if you purchased your property for 170000 + say 5000 for purchasing costs + the capital improvements, youll have a cost base of $195000.
If you sell the property for $205000 less say $5000 again for selling costs, youll have a capital gain of $5000. ($200000-$195000) Assuming that you have owned the property for more than 12 months, you will get a 50% concession. That makes it $2500. This is then added to your taxable income. So if you are on the top marginal rate you will pay $1200 in capital gains. ($2500 x .48) Hope that helps!
