Hi therenot sure what state you are in but you need to look at your contractI don't believe that a deposit needs to be in the form of a bank cheque – only the settlement cheques need to be bank cheques.I don't understand why they are insisting on a bank cheque unless there is a special condition to that effect – if they continue to be a problem -…[Read more]

http://www.haskins.biz/gst.aspHI there you might like to review the above link which gives some good information on the GSTyou need to consider the situation of the vendor from whom you purchased the property to establish if you need to pay GSTthanks

Hi thereI'm not sure the Accountant is entirely correct to state there would be a resettlement and there would need to be payment of stamp duty on all trust assets provided all that is being done is an appointment of a new trustee – you should probably check with your solicitor in this contextyou normally have to prepare statutory declarations to…[Read more]

Hi therewe are considering similar options for a 2 unit besser block unit we havewe have been recommended to use a process which is a type of rendering – dry fill rendering – which has been affectively applied to one of the other units in the blockthe option finishes can be smooth or like a sandpaper feelnot sure if that is of any usethanks

Hi there RP Brownyou still use the REIQ contract but you have special conditions which refer to the process you are going through to strata title the property so there is a chain of documents for the purchaser to see how ultimately he or she will get their strata titled property. I have actually seen the proposed contract attached to another…[Read more]

Hi thereits seems my post was lost with the crash but yes I agree with the above comments you need to speak with the insurance ombudsman, fair trading, A current affair and any one else who will listenIf you are in QLD – I believe the tone of the correspondence from the insurer amounts to a threat – accept our offer or get nothing – I consider…[Read more]

Hi thereI do think it depends upon the insurance company.We had a situation after we lost 2 properties in the Canberra bushfire – we were not required to produce a written fixed term tenancy agreement (because we couldn't in one situation – because the lease had been negotiated – but not yet signed – and was actually in the property destroyed at…[Read more]

Hi therepeople in other states may correct me if I am wrong – but I think it is only QLD that has on the Form 1 transfers and property information disclosed in the accompanying Form 24 that the property is being purchased by a trust – and actually identifies the name of the trust as well as the TrusteeI recall that in SA – if individuals were…[Read more]

Hi thereI think you will find if a property needs to be sold due to a separation which is evidenced by an agreement between the parties which is recognised by the family court – you have a situation which allows a rollover of any CGT -see the link for the relevant circumstanceshttp://www.ato.gov.au/businesses/content.asp?doc=/content/22313.htm&page=12

Hi thereI have seen people enter into a lease agreement for a property with an option to purchase 12 months down the track – is that the sort of thing you are referring to?

Hi there Jennywe actually filled in a pool after the Canberra bushfireswhat we ended up doing was using the space for a water tankthe only permission we needed was to have water from the pool go into the drainage mainsI would only think you needed an engineers report etc if the pool formed part of your retaining walls for the main building…[Read more]

Hi there
don’t know what sort of computer you are using but microsoft power point have templates for a business plan that come with the software on the computer.
When I was advising some potential clients who were interested in purchasing a business, I suggested they start by reviewing those templates to put together their business plan – they…[Read more]

Hi there
we had a similar problem when we lost properties in the Canberra bushfire – we needed to still have public liability insurance whilst the site was being cleared and before we could either sell our block or rebuild.
What ended up happening was we attached the insurance for our affected properties with the insurance for our principal home.…[Read more]

http://www.resortpublishing.com.au/Resort_News/index.php?Section=133&Article=479

thanks Simon – should have got back onto the topic but found the above link – it seems to refute the argument that you are limited to claim only the purchase value of the home

http://www.resortpublishing.com.au/Resort_News/index.php?Section=133&Article=479

thanks Simon – should have got back onto the topic but found the above link – it seems to refute the argument that you are limited to claim only the purchase value of the home

Q: Can I write-off the stamp duty on transferring the title on purchasing a rental property as borrowing costs?

A: NO! The costs associated with the transfer of title are “acquisition” costs that are payable regardless of whether or not money was borrowed to fund the purchase. Stamp duty on title transfer forms part of the cost base for Cap…[Read more]

Hi there
practical completion occurs when a certificate of occupancy – or equivalent for your state – has been issued
I note that we have been in dispute with our neighbour about a dividing fence – but in the ACT.
Under that legislation – written quotes have to be submitted before an owner can utilise the legal options under the legislation.…[Read more]

HI there
it depends what state you are in what a Council search will show

for example, in Queensland, to find out if plumbing etc final inspections were done – you would have to do a building compliance search that is normally separate from the normal Council search which shows what rates are paid till when and has some general zoning…[Read more]

Hi again
just check your agreement that you don’t have to pay a commission – sometimes even open agreements can have some nasty tricks – but yes it is usual for the sole/exclusive agencies to have the commission requirement

it is definately possible to nominate a different buyer if the contract permits it – even an agent could source a buyer who…[Read more]

HI there
in relation to your first question – whilst you can source a buyer from anywhere – you will still be liable to pay the Agent’s commission, particularly whilst the sign is out the front – you need to check the agency agreement you signed.
As to your second question – it is possible for a buyer to nominate another party as the buyer -…[Read more]