NM7 replied to the topic Land Tax for new knockdown dwelling while residing in current PPR in the forum Legal & Accounting 1 week, 3 days ago
Thanks Terry – seems like I can request for a refund of land tax paid once construction is completed and certificate of occupancy is issued. Requirement is to be in the new property for at least 6 months to be eligible for the refund.
Sharing the link in case this helps others:…[Read more]
NM7 replied to the topic Land Tax for new knockdown dwelling while residing in current PPR in the forum Legal & Accounting 1 week, 4 days ago
Hello folks …. anyone able to share their expertise on this matter?
I checked out https://www.sro.vic.gov.au/pprexempt#11 which does indicate both the new PPR and old PPR will be exempt from land tax provided new land isn’t generating income and we fit in that category as we knocked down the place as soon as the settlement took place.
NM7 replied to the topic Land Tax for new knockdown dwelling while residing in current PPR in the forum Legal & Accounting 1 week, 6 days ago
Thanks for your reply Terry. This is in VIC.
I basically took my rough drawing / plans to several builders to get some rough pricing and inclusions they provided. We did that exercise about 12 months ago and glad that we are in the tail end with our new home should be ready in approx 8 weeks time.
Purely from experience (based in Melbourne), I found most builders quote was…[Read more]
NM7 started the topic Land Tax for new knockdown dwelling while residing in current PPR in the forum Legal & Accounting 2 weeks, 1 day ago
Dear PI Gurus,
A quick enquiry with our current position. Been living in current PPR that we purchased 12 years ago. Purchased existing property nearby which settled in Jan 2017 with plans to knock it down and rebuild a new home that will become our new PPR later this year.
From Land Tax perspective, do we only get exemption for the current PPR…[Read more]
Folks – just a question about reserve price for auctions particularly in VIC. In watching the Block Auction last weekend, I was surprised when Ronnie and Georgia’s home was passed in at $2.6 million; it moved to a private bidding and was sold for $2,781,000.
I was always under the impression that in an auction, if the bid had not reached the…[Read more]
NM7 replied to the topic Recommendation of independent building inspector in Melbourne in the forum Help Needed! 11 months, 3 weeks ago
Anyone with some details / suggestion??
NM7 started the topic Recommendation of independent building inspector in Melbourne in the forum Help Needed! 11 months, 3 weeks ago
We are looking at building a new family home soon and was advised to consider getting an independent building inspector for added piece of mind. Can you folks suggested any good independent inspector in Melbourne whom you can recommend? Are there any criteria to pick a good inspector?
I’ve just done that – contacted approx 5-6 demolition companies and received a quote ranging from $11K to $20K for a 3 bedroom weatherboard house to be demolished. Asbestos removed with certificate provided and a reasonably large tree to be removed included.
Demolition company wasn’t worried in me salvaging things on my own & hence managed to…[Read more]
NM7 started the topic Can anyone recommend a good demolition company in Moorabbin / Cheltenham area? in the forum Help Needed! 1 year, 3 months ago
Looking at doing a knockdown rebuild in Cheltenham and was wondering if anyone can suggest a good demolition company that operates in the area?
What about Tica Landlord Insurance cover – http://www.tica.com.au/insurance.php
I’ve had them for the past couple of years for 2 of my IPs but never had a reason to make a claim so far.
Anyone else has had experience with Tica that you would like to share / make me & others aware?
Can anyone suggest a reasonable carpenter know or have used recently who works in Cheltenham, VIC? We are looking at doing a knockdown & rebuild and would like to get things like built in robes / desks made to fit in the new home.
We have recently signed a contact of sale and organised for settlement of the property to take place mid of this month. The vendor has indicated that he requires to rent the place for 5 weeks post settlement and will be paying $500/week directly to us.
How can we do this without the need to getting vendor’s solicitor involved as he had a fallout…[Read more]
NM7 replied to the topic Can I claim these expenses at tax time for rental properties ? in the forum Legal & Accounting 1 year, 9 months ago
I would have thought that Buyers advocate fees would be added to the cost base for the property.
While on this topic, what is the main difference using someone like BMT / Washington Brown / Depreciator vs TaxShield who charges a fraction of the cost from the other companies? I understand that there is a comprehensive check-list provided by TaxShield that you need to conduct the onsite inspection and provide the details but wouldn’t…[Read more]
NM7 replied to the topic Property Managers and landlords – do you change locks? in the forum General Property 4 years, 10 months ago
FYI, I recently had changed locks for one of my IPs based on the request of a tenant wanting to move in. They had put in their application & requested the PM for external door locks to be changed. I was happy to do so as I was getting $5 more per week and for them to sign-on a 12 months lease.
Thanks for your views Nigel … as replied to Richard, I'm certainly looking at some good opportunities within Brisbane but wasn't sure what my best options are, particularly being based in Melbourne. I'm concern of choosing an area that might be flood-prone or just not attractive to potential tenants. What sort of budget range would be involved…[Read more]
Thank you kindly for your reply and I was introduce to a new house & land package in Upper Kedron within the Jarrah estate for investment. Hence, I just wanted to get views of the experts here in regards to which location within Brisbane that would potentially fetch good growth & good yield for approx $450K to $500K. Have you got any…[Read more]
While on this topic, would you also combine Landlord Insurance with RACV Emergency Home Assist (assuming you have an IP within VIC)? Also in regards to SMSF101's recommendation site of quotelinedirect.co.uk – does it cover Australian properties? Has anyone managed to get a reasonable quote from the site?
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