Forum Replies Created
Hmmm….His tax assessment would make an interesting read. I don't envy his accountant's job.
http://iminco.net/coal-mining-jobs-as-india-looks-to-invest/
http://iminco.net/xstrata-glencores-31b-merger
/http://www.dailymercury.com.au/story/2012/10/03/cfmeu-sued-for-24m-by-mines-/
http://www.dailymercury.com.au/story/2012/10/03/house-rent-prices-plummet-mackay/
bardon wrote:the fishing is also deductible if it constitutes tax advice.Bardon I wish I'd known that sooner. Now I'll have to get an amendment on last year's tax assessment.
Peachy what an ordeal your plumbing has become. One other suggestion which might help is for you to contact the Queensland branch of the Master Builders Association in Brisbane ( I couldn't find a listing for Mackay). If you tell them your story, they should be able to recommend a reputable builder in Mackay who could oversee the rectification of your problem, or even put you in direct contact tradespeople.
417 Wickham Terrace
Brisbane Queensland 4000
Phone: (07) 3225 6444
Fax: (07) 3225 6545
Email: [email protected]
Peachy one other thought to keep in mind is that a quick trip to mackay is tax deductible in the year that expense occurs as a property inspection. When considering possible expenses in the thousands of dollars, being on site to make decisions, aside from peace of mind, could save you money. It's also prime fishing season there now, so treat yourself to a charter while there (the only expense on your trip that won't be deductible).
Hi Peachy
If the leak is under the slab, it almost certainly existed prior to your purchase, as the pipes would be protected from any damage by the slab. So in fact, unless the house is very old and the pipes have corroded severely, the damage to the pipes may have occurred during construction. At 1 litre /sec, the leak should have been obvious to previous occupants, so as The Freckle suggested, I would be talking to an expert about my legal options. Keep in mind that brick veneer houses still have internal timber walls, and termites are attracted by moisture. At the rate your water is disappearing, and not visible, it must be assumed that it is very wet under your slab. Also, disturbing the slab may provide an access point for them. With luck, your leak may not be under the bathroom or kitchen. It's possible that it could be in a section of pipe running under a lounge room, bedroom, or hallway between tank, kitchen, or bathroom. In that case, repair costs could be much lower than estimated. Sack your first plumber immediately. His competency is questionable. The fact that he's an extortionist is indisputable.
I hope your luck improves,
Tony
BHP have applied for an extension until 2016 on approval decision for Olympic Dam. Very long time frame.
http://www.miningweekly.com/article/bhp-requests-extension-on-olympic-dam-deadline-2012-09-26
That's an interesting read, Josh. The sentiment behind the idea is mirrored in the Hunter Valley, where the local population and councils complain about the fact that a disproportionate share of state revenue comes from the mining regions, and not enough of it comes back to compensate for the negative impacts inflicted by the mining industry. And it's no secret that W.A. wants a bigger slice of their pie from the Feds. Will be interesting to see how it goes in Queensland, but any gain for north Queensland would be a loss for the south, so there will be a lot of resistance.
Jack, I know you and I agree the longer term picture for resources is very positive. One thing there's no doubt about is that there's plenty of coal here….
http://www.cqnews.com.au/story/2012/09/26/outlook-seems-good-for-eromanga-basin/
I don't hold property there, but if I did I wouldn't sell it. Whyalla's story is not over yet.
I agree with Jack, no cause for panic, that would probably result in the worst outcome possible. What is occurring in the region at present has occurred in the past, and mid to long term a recovery and higher peaks have followed, and will again. Vacancy rates have been low, and rents high. There is obviously room for both to adjust before landlords are likely to face serious hardship. There are lessons to learn from any downturn, and although there was no shortage of advice from experienced investors available for any who chose to heed it, most people tend to learn lessons the hard way. The towns with the more diversified industrial and economic bases, such as Emerald and Mackay, should hold up fairly well until coal prices recover and more new projects start up. Current circumstances highlight the fact that unless you have sufficient capital to have safer investments elsewhere to balance your portfolio, investing in single industry towns can be a risky proposition. But short term pain can be a very educational experience, and help to temper an investor's skills. In the meantime, there are still many committed projects underway, and more miners and contractors working in the region than ever before. I like the saying "we have nothing to fear but fear itself." And here's some more good news ("BHP Billiton metallurgical coal remains focused on the projects currently under execution….") disguised by the headline and some bad news.
http://www.cqnews.com.au/story/2012/09/21/coalfields-cull-continues-miners-face-an-unclear-f/
Hi ccpat
I've cladded quite a few houses myself. Cladding can conceal a world of eyesores, including rot, badly out of level walls, and other forms of deteriorisation. I would assume that valuers (and cluey purchasers) would keep this in mind when appraising a property. The quality of workmanship in the cladding industry can vary widely between individual tradesmen. The larger cladding companies generally have a high employee turnover rate, due to paying poor wages. Therefore, they have to train and employ inexperienced tradespeople. If you do engage a large company, try to inspect the work of the specific trades personnel assigned to your project. I've actually worked for "Forever Boards" in Newcastle. They are an honest and well managed company.
As Josh says above "it's greed from everyone…" And now the Queensland government, with incredibly bad timing, announces increases in royalty demands. I wonder if anyone in government is capable of considering the possibility that more tax from less mines equates to less revenue?
Just to clarify, the above post was intended to reiterate the huge investments in and around Gladstone. The media releases are dated, and not current, although their impact on Gladstone is. The following is a current release, and as mentioned in the article, the company would require more export capacity at Gladstone to ship it's coal.
$2.5 billion dollar Wiggins Island coal terminal at Gladstone begins construction. Worley Parsons has begun site preparation.
And a proposal for an additional 50 mil/ton/per/year terminal to be built
http://www.miningweekly.com/article/more-export-capacity-slated-for-gladstone-2012-03-
08http://www.miningweekly.com/article/lng-producers-create-a135m-social-infrastructure-fund-2011-12-05
http://www.miningweekly.com/article/queensland-aplng-project-gets-environmental-approval-2011-02-22
As Terry Ryder says "The Resources Revolution continues"
In spite of some recent warnings that the Gladstone property market may receive a "speeding ticket" in the near future, the phenomenal amount of investment, and the population growth slated for the town, indicate to me that investments in good locations with a 5-10 strategy remain very secure there. I'll be hanging on to my property in Kin Kora for awhile.
Any such legislation would discourage developers and investors from supplying housing. The reason rents are high in those areas in the first place is demand exceeds supply. Self-defeating solution.
Union meetings with BMA have concluded…results under wraps pending employee votes. Sounds promising to me.
http://www.dailymercury.com.au/story/2012/09/03/meetings-unions-enterprise-bargaining-agreement/
Results of land release in Emerald…
http://www.cqnews.com.au/story/2012/08/31/buyers-devour-highfields-release/
For anyone interested in more information on Alpha and the huge potential of the Galilee Basin, here is a link to Hancock coal…
Hi All
I've been researching Rocky long distance and have gone through old posts on this site. This last comment from Lisa caught my eye, and I'm interested to here from anyone with local knowledge on the subject of the "rough areas" to avoid. I'm interested primarily in areas north of the river and out of the flood zone, focusing on Berserker in the North Rockhampton Residential Consolidation zone near Musgrave Street. Can anyone offer any advice about this area? Any particular streets or areas to avoid there, such as a concentration of housing commission properties? I will visit the area before signing a contract, but advice from anyone with experience there would be appreciated.
Thanks, Tony
Hey Mattsa
Alpha is in the Gallile Basin, inland from the Bowen and Surat Basins. There are HUGE untapped coal deposits there. There are several large scale projects on the drawing boards, all requiring new rail and water supplies. There are several different proposals for rail to ports, including Gladstone, Mackay and Abbot Point. BIG, BIG things will happen here eventually. LNG gas companies are also very interested in the area. Where there's coal, there's gas, and there's a lotta coal in the Gallilee!
GVK managing director of coal and infrastructure is quoted as saying the Alpha Project remains viable. Time will tell whether or not the project goes ahead on schedule. In the current climate, it would be a huge boost for confidence in the region. The managing director says discussions are well advanced with commercial banks re finance, and construction could start mid 2013. If true, there's less than a year to go until we see concrete evidence. Some further progress with rail approvals will be required first. I'm sure any coal miners concerned about the current low coal prices impacting job security would be relieved to know a project of this magnitude was underway. No doubt if it proceeds real estate prices in the sleepy little town of Alpha will escalate. Potential high reward but definite high risk there. Emerald will also benefit if the project proceeds, without the risk of investing in a one horse town.
http://www.gladstoneobserver.com.au/story/2012/08/24/economy-ideal-galilee-basin/
