Try Julia from here or SS, she is in Bechmere Qld (not sure if that is close to you). DaleGG from SS is very reputable also (especially with Trusts) and although not in Qld has clients from across the country.

Try Julia Hartman julia@bantacs.com.au or http://www.bantacs.com.au

Cheers,

Jo

I was not scared off by Michael’s post; I don’t believe anyone should be scared off by anyone’s post. The whole idea is to read the posts, take in what you feel valuable and leave the rest; simple. As for the reason I was attracted to this thread, it was predominantly out of interest especially considering some very recent events…[Read more]

The ONLY section that even HINTS to have some merit is:

Example 3.
A sub-contract paver who happens to be a working director repairs…[Read more]

If the answer is no then pay it or don’t own property in this state.

Why waste emotional energy fighting it or complaining? Turn your effort to something a little more productive.

If the answer is yes then change it and everyone will be happy [biggrin]
Are you asking ME specifically??…[Read more]

I think (correct me here if I am mistaken) Jason is…[Read more]

What an awesome post!!! [thumbsupanim]

I am not a property developer; I never have been, nor do I intend to be (well not in the immediate future). Why??? Because I agree wholeheartedly with you; I too have seen many “developer” friends go from owning a hefty portfolio to (some, not all) near bankrupt, those that survived are currently…[Read more]

As far as I know, it is only relevant in NSW, but I might be wrong.
Again, unfortunately YES [glum2] See below:

Land Tax is applicable in:

VIC
http://www.sro.vic.gov.au/sro/sro…[Read more]

Foundation,

It wouldn’t exactly equate to 10K as obviously there are other factors that need to be taken into…[Read more]

It may be a simplistic view but really I guess the fundamentals of “making money” generally are, that is, people do it (make money) all the time; they sell stuff, or more everyday-ish, they go to work and MAKE money. No great mysteries there!!!

The key IMO is not “how to make money” but once made “how to sustain wealth” that needs to…[Read more]

Relax, you will be CGT exempt because:

a) as part of the FHOG you would have had to claim it as your PPOR to be eligible

b) you are renting where you are hence not claiming another place as your PPOR and beside, from my understanding, you were RELOCATED because of work hence there is not so much onus place on what is and what is not…[Read more]

In answer to your (repeated) question, see your other thread as well:

https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=16134

Cheers,

Jo

I know I already contributed my 2c earlier, but in the meantime a friend who invests in “student accommodation” type properties has sent me an email saying that there are both pluses and minuses that need to be considered (as with any IP) along with a couple of links that may be of…[Read more]

I’ve excess money and I’m thinking to buy a property, and the question that comes up from my brain is:

1. After I bought the property (for investment), say I want to renovate some area like kitchen and toilet. Can I claim the expense…[Read more]

Hope to see you back in here soon!!!

Personally, I will be going o/s end of this month but have decided it might be a good idea to withraw a bit earlier than anticipated; seems as though I am an upsetting some of the newbies
https://www.propertyinvesting.com/forum/topic/16025/2.html with my psycho babble [blush2]

You take care Jaffa,…[Read more]

Seriously, as long as you do your homework, research the area well, check it out thoroughly and then if the numbers stack up and you feel that its worthwhile then go for it.

Myself personally, I wouldn’t invest anywhere that had little CG potential, regardless…[Read more]

Sometimes I wish I was 16 again.
Sorry eeshole, but you were the one who said it in one of your earlier posts, and there was no mention of it being your “mental age”…[Read more]

I am sooooo glad you asked that question.[biggrin]

Just got off the phone to the Victorian SRO and I have been informed that transfers by “natural love and affection” are still permissable and do not incur costs here in Victoria; not sure about other states though.

It took me a minute because I was trying to remember the exact…[Read more]

You mention it will be a costly exercise, how so may I ask? As I understand it, there is no duties between property trasactions between spouse’s. All I thought I would need to do is transfer the title, extract the equity and borrow in my name the full amount. Then, I thought all expenses would be a…[Read more]

You asked me was there any legislation, I said I wasn’t sure but rather than blow it out my backside, I tried to do the right thing and posted a link re the Code of Practice for REAs as per the REIV, it clearly stipulates the use of signage; not my decision, nor my concern, but their practices!!!

Unlike you, I don’t have an aversion to…[Read more]

My apologies showbags, I had overlooked a very important point, to which Simon has so kindly drawn me too, and that is the transfer of “bad debt” to “good debt” or non-deductible to deductible.

Cheers,

Jo

If the shoe fits……..[blush2]

Besides Yack,

I’ll stop my “subjectivity” (I suggest you look up the word, as I am hardly being as you accuse me).

You directed your snideness at my comment, I obliged with an intelligent answer, and all you could come up with was “I don’t agree with free advertising, they’re an eye-sore” and a…[Read more]

This will be a costly exercise, and quite frankly I don’t see the point.

You will be liable for stamp duty.

If you want to turn it into an IP that’s fine, why not just move out and rent it??? As your PPOR it is CGT exempt, and provided you do not buy another PPOR in the time that it is being rented, you can sell it within 6 years of…[Read more]

Sorry I am not a FHOG expert, people such as Woodsman and TerryW are, and as I can see they have addressed your concerns impeccably!![thumbsupanim]

BTW…if you want to speak to me without posting publicly you can do so by just selecting my username (by clicking on my name anywhere) then going to my profile, and sending me a message.…[Read more]

Don’t be. The 6 month cross over is a period of time in which you are allowed to have more than one main residence. Often this is for people who say, sell their PPOR and are awaiting the settlement of their new PPOR, in which case they are technically claiming 2 PPORs.

Cheers,

Jo

I was assuming that pasandbec would not be claiming the current main property as their main resdience for any overlapping ownership period.

Fair enough, Terry. Under those circumstances, yes you would have been spot on, especially mentioning the 6 month cross over period which in my haste, I omitted.

Many thanks,

Jo

The sign is there for 30 days, after which time it must be removed, unless the agency obviously decides to do so beforehand.

As I posted before, try reading: http://www.reiv.com.au/_uploads/98_rulesOfPractice.pdf
It is part of the agents code of practice, so to that end, whether you or I like it or not, that’s just the way it is….MOVE…[Read more]

I did not get an evaluation done at the time I moved out of my Canberra property! Can I get one done NOW??? i.e can they back value it?
Yes you can, there are valuers specifically versed in this type of thing, especially for CGT purposes where people such as yourself (and I am guilty…[Read more]

Has absolutely nothing to do with your mailing address. This history of this particular tax law was to make concession for public servants and others who were posted interstate and overseas for work. ie although they did not live in their old house there was no capital gains tax liability when it was sold.…[Read more]

I spoke to my tax accountant and solicitor earlier today who said a couple of things. Could you confirm whether what they said is true (from your undersatnding of it).

My solicitor seemed to think that the CGT would only be calculated on the difference in the value of the property between the time that I…[Read more]

But it won’t really make much of a difference, you have 6 years in which you can rent a PPOR and still be CGT exempt, PROVIDED you do not claim another property as your PPOR.

At worst at least your partner is CGT exempt, and quarter of a bill is better than half right??? Don’t worry too much, the CGT for your partner only…[Read more]

It is confusing, but unfortunately I can’t say the clarity of its impact has ever escaped me. Not only do I have a sister working with the ATO but I have paid more than $250,000 in CGT in my years of investing!!! So I am familiar with the “what does” and “what doesn’t” qualify for exemption. [blush2]

You don’t have to “nominate”…[Read more]

My sister is an ATO employee and this was never mentioned to me, can you please explain where you got this from??? [blink]

Cheers,

Jo

Sorry, but if you have nominated your house bought in August 2004 as your PPOR you WILL have to pay CGT, of course you can try and get out of it, but I wouldn’t recommend it as the ATO can be heartless if you get caught.

Basically, if you were having your mail addressed to your 2004 PPOR that can be traced back, so if you try and tell…[Read more]

I guess you can’t really find that out until you ask the question. However, if anyone offers to help then that offer should IMO be honoured regardless of the nature of questioning. Sure there are some things that your mentor may not be versed on, but that does not give him/her the right to treat you (as you say) like “an idiot” NO…[Read more]

Although I have bought interstate properties in the past I can’t recall the finer details as to WHEN exactly the “sold” sign was posted (come to think…[Read more]

The “and/or nominee” part of the contract of sale is used as a temporary measure until settlement. Basically you can put your name on the provided space, and just prior to settlement change it into both names, or just one. You can change your mind upteen times in the interim, however once the settlement is complete, the nominated…[Read more]

What do you mean Snowy??? You have our undivided attention right at this moment!!! [biggrin]

Why settle for just one mentor, when there is such a vast array of experience, skill levels and different types of investors…[Read more]

It is what I am saying. That is, a “sold” sign will not be posted across the advertising board until the initial (sale price) deposit has been paid over to the selling agent.

Cheers,

Jo

Okay, fine I’ll play!!! (sigh)

Yes he is OBLIGATED as once the contract of sale has been accepted by both vendor and purchaser the property is deemed SOLD and for all intents and purposes, is required to be made public if a public board or advertisement of the property is displayed.

I am not an agent Yack, however I…[Read more]

Sharon

Sharon,

I think it…[Read more]