Probably capital expenses = claim depreciation.

If it is still in his name then you haven’t bought it. You may be able to create an equitable interest in the property, but would not be legal owner without title.

Don’t confuse ownership with loans. If he is on title he may or may not have a loan. If he has a loan, ie is a borrower or a guarantor then this is a liability which will be taken into…[Read more]

Whatever is cheaper and easier.

Then it is a simple process to wind them up.

If they owe the money and there is no dispute they would have no choice other than to pay.

Get legal advice on this. It will all depend on the structure of the trust – and watch out for stamp duty implications.

Yes I agree, a good broker would have avoided this. But it is a great step to try to pin any blame of negligence on that broker. I am a broker and at various industry sessions it is amazing to see the basic level of knowledge of brokers.

Best to speak to a lawyer and a tax adviser. yes you could enter into a loan agreemennt with a relative and then refinance this loan with a bank loan. Need to be careful as there are many issues.

The seller could appoint you attorney with a limitationn to dealing with the property. However you would have a fiduciary duty to act in this best interests unless the deed specifies otherwise. You could lodge a caveat if he gives you permission or if you sign a contract to purchase (or otherwise have an equitiable interest in the…[Read more]

Speak to a lawyer about issuing a statutory demand under the corporations act. If they don’t pay or set it aside within 28 days you can wind them up.

Nightmares:
tenant died in a property – I had the agent push her under the rug hoping no one would notice but that didn’t work. I did let her out of the lease though.

Off the plan came in short on the valuation – luckily I terminated the contract sucessfully. But the worry and waiting left me with many missed opportunities.

Your mate is at fault. People should take responsibility for their actions! Put it down to a learning experience. it doesn’t seem like the bank has declined the loan, just that he needs to contribute more cash

I think the problem in WA is that the price has somehow come out at that level and all the players are just keeping the status quo – If your competition is charging high prices you can too. All it would take is one or two new entrants to come in at national prices and then market forces would come into play.

Collusion – ACCC should be the point of call.

I think Ollie may want to bring the deduction forward to this year to offset this years income, which may be higher than it will be expected for next year.

If you want to prepay interest then you have to be charged the interest before 30June of it will fall over next eyar.

I just tried to do a prepay for a client with Homeside and they have now withdrawn this product, so hope they are not your lender

Yes Benny – usually contract date.

Possibly.

If you or an associate control the company it may be a related party. A transfer could not be done of the property unless it was business real property. However there could be an exemption to transfer the shares of the company. Look at Reg 13.22 SiS Regs and seek legal advice.

Yes, it is not easy Benny

Consider

1. taxation, now and future, including CGT
2. asset protection
3. estate planning
4. control
5. family law
6. incapacity
7. death
8. serviceability