Scott No Mates replied to the topic Distribute Income from Trusts to minors? in the forum Legal & Accounting 10 months, 1 week ago
Yes, however they are charged tax at the top marginal rate unless it is ‘excepted trust income’ (eg from a testamentary trust).
Scott No Mates replied to the topic Distribute Income from Trusts to minors? in the forum Legal & Accounting 10 months, 1 week ago
Yes, however they are charged tax at the top marginal rate unless it is ‘excepted trust income’ (eg from a testamentary trust).
Scott No Mates replied to the topic Land title size and advertised land size different in the forum Help Needed! 1 year, 10 months ago
You must rely on the S32 not the advert as errors are quite common.
The agent would have pulled the size from another source like RP Data.
Scott No Mates replied to the topic Conversion of community title to torrens title in the forum Help Needed! 2 years, 7 months ago
Does 285m2 qualify under your council’s LEP for separate titling? You will find that unless there is a specific exemption or mention, the minimum block size may be 400m2 and you will be well short which is why the developer went the way that they did.
Scott No Mates replied to the topic Questions for anyone that knows wholesaling in the forum General Property 3 years, 6 months ago
I had a cheap yacht which hit a reef & sank, does that count?
Scott No Mates replied to the topic What is a sleepout? in the forum Help Needed! 3 years, 11 months ago
If it includes building a wall then you may require consent.
Scott No Mates replied to the topic Buyer's Club (Sydney) in the forum Help Needed! 4 years, 6 months ago
So the deals are inflated by $20k in addition to the money you’re paying to a biased buyer’s agent who is already in bed with a builder and possibly the land owner. Not independent advice IMHO.
Go to an independent BA who will provide options which meet your requirements.
Scott No Mates replied to the topic Commercial Project Feaso in the forum Commercial Property 4 years, 6 months ago
Your assumption of equity required of $47k is far shy of the normal requirement of 30% for commercial property.
Scott No Mates replied to the topic Anyone using social media / website to promote their bizz? in the forum Creative Investing 4 years, 7 months ago
It’s been on the agenda for a long time. I should so something about it whilst the apocalypse passes.
Scott No Mates replied to the topic buying a property with smsf…. in the forum Commercial Property 4 years, 8 months ago
You can borrow to purchase but cannot borrow to renovate (make sure that you have sufficient funds to complete the works without tying up all of your capital).
Will you being converting to residential (restrictions on what you can do in super) or will your business be renting it from the SMSF. Any rent paid will go to the fund (less any tax…[Read more]
Scott No Mates replied to the topic 20km from cbd VS. 50km from cbd in the forum Help Needed! 4 years, 8 months ago
High crime rate – are they the official figures or just hearsay?
How long will it take to commute to work from 20km and 50 km (50 km is 2 1/2 times further from the city)
Scott No Mates replied to the topic how to cpi rent review,after 3 yrs no adjustment in the forum Help Needed! 4 years, 10 months ago
After reading the rent review clause, go to abs.gov.au and get the CPI table download. This is an Excel file.
Use the all groups Adelaide
June 2019 ÷ June 2016 × current rent.
113.7 / 107.5 = 1.0576744186 x rent
You will also need to do a back rent calculation for the period after the rent review to current (even if this is prior to yo…[Read more]
Scott No Mates replied to the topic Renovating for a living in the forum Legal & Accounting 4 years, 12 months ago
By the sound of it you intend to run the business of a builder, you will need a builders licence. Owner builders licences are restricted to PPOR not flipping.
Scott No Mates replied to the topic building three unit's with foam construction with Bondor panels in the forum Commercial Property 4 years, 12 months ago
Your first port of call is the BCA – you need to determine the type of construction material that the building is required to be constructed.
I have previously built light-weight construction using Hebel panels, styrocon and metal sheet/purlins each solution was dictated by the location.
Scott No Mates replied to the topic method to valuate townhouse land valuation in the forum Help Needed! 5 years, 2 months ago
You look for comparable sales – ie other 3 bedroom townhouses nearby.
Land value means precious little unless the site is massively underdeveloped.
Scott No Mates replied to the topic House title in the forum Help Needed! 5 years, 3 months ago
Stamp duty (at market value for the % that you are buying), legal fees (you, sister & mother all require advice), provision for capital gains tax (payable by your sister), discharge of mortgage.
Scott No Mates replied to the topic Begin Lied by ReaAgent in pre-settlement inspection in the forum Legal & Accounting 5 years, 3 months ago
It’s a bit late now. You should have raised this matter with your building & pest inspector prior to settlement and also with your solicitor. The vendor has got the cash and is well on the way to Bermuda.
Scott No Mates replied to the topic Chapel Street Shopping Precinct special rate in the forum Commercial Property 5 years, 3 months ago
Scott No Mates replied to the topic Chapel Street Shopping Precinct special rate in the forum Commercial Property 5 years, 3 months ago
Scott No Mates replied to the topic Chapel Street Shopping Precinct special rate in the forum Commercial Property 5 years, 3 months ago
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