Tax will depend on a few things. Generally income of a SMSF is taxed at 15%. But the SMSF can claim the usual deductions.If the fund is paying a pension then the income could be tax free.

Also think about death, divorce and bankruptcy. What if one wants to sell and the other doesn't? Stamp duty and CGT iimplications of one buying out the other etc.Accessing equity down the track.

Or go straight to the legislation:http://www.austlii.edu.au/au/legis/cth/consol_act/itaa1997240/s118.145.html

Yes, it will have an impact because you will be paying more tax if you earn more than a certain amount. I think if you earn more than $48k it will be an extra 4% tax.

You should never use a trading company for a variety of reasons.The main one is asset protection but another is for convenience.When a lender lends to a company as trustee they will take a charge over the company's assets. If the trading company later enters into other contracts this can be a major drama as registering further charges could be a…[Read more]

Look into adverse possession too. He may be able to make a claim for that part of the land if in continuous occupation for 12 years or so.

Well, I haven't really looked into this before.I would imagine once the land is subdivided then only one of the blocks will be CGT free. So if you sell one immediately it may be CGT free and if you live in the other immediately it may be CGT free because it is your main residence.

You might want to look at the PDS docs on how not to be a developer on http://www.bantacs.com.au

First thing to do is approach the neighbour and tell him that you think his building is encroaching on your land. Let him respond and see what he says. He may want to get his own surveryor in and/or you can you him your survery.3 m is a lot of land! Ask him to move his shed etc from your land. See what he saysYou may want to look at ENCROACHMENT…[Read more]

Did you live in the original PPOR before renting it out? And while renting it out did you ever have another main residence?

I rang the Office of State Revenue NSW to confirm and this example is how it should work. A and B own a PPOR – this is generally exempt. A and B also jointly own an investment property with land value of $396,000. This is exempt as the tax free threshold is $396,000. A then goes on and buys a property of his own, land value worth $200,000. I…[Read more]

Yes, me Sydney too. CBD. my email is Terry@loan-experts.com.au

I am a mortgage broker and could possibly assist. Where are you located?

Well  thats what you can expect with a vague clause  -works in the favour of the purchaser in this case. I think you should let it slide and resell. Next time someone tries a valuation or finance clause try to be very specific – name the bank, time and amount that must be approved and how they are to notify you if it is not approved.

I can think of one that will do it if internal is at least 40sqm and then whole lot is over 50sqm including balcony and car park and is not high density. 95% may be possible.

You should seek legal advice before entering into contracts.

How much did you use?You would have to split the variable into portions – investment portion and non investment portion. But since it is a very small loan any effect would be very small and it may not be worth the effort.

can your prove your income? Are you willing to show 12 months BAS statements and trading accounts and do these reflect the income you will declare?

There are 2 transactions:1. Tenancy2. Option to purchaseWith the tenancy there will be a bond as per the RTA requirements.WIth the option you can charge the option taker a non refundable option fee.

A trust is where A owns something for B.Easiest way to understand is to think of a parent opening a bank account for a 2 year old. The parent is the legal owner of the account, title is in the name of the parent. The parent is the trustee. But it is the 2 yr old who really owns the money. 2 yr is the beneficial owner or the beneficiary.So a trust…[Read more]