nope. An individual has a land tax free threshold of about $380,000 where they pay no land tax.Some other disadvantages are no negative gearing.I would probably suggest you look at using a fixed trust with the units held personally. Later on you can transfer the units to a discretionary trust. This will add great flexibility, but will come at a…[Read more]

Mate, that is incorrect. In NSW you will also have to factor in land tax. There are no land tax free thresholds for trusts, other than fixed trusts, so you will be paying an extra 1.6% pa.

Searches have to be ordered and received back. Sometimes there are hiccups here. For the outgoing mortgagee to be ready for discharge takes at least 2 weeks too.

I would just request compensation from the developer and the electrician. See what they say. If no then I would just drop it as it is not work the hassle for about $1000. Legal costs would be more than this and you could only get back part of those costs if you win.

42 days from today is about the 21 Dec. You are cutting it very fine (in NSW anyway). Just remember that everyone wants to settle before Christmas and the banks are overloaded with trying to get paper work out etc. Its teh most hectic time of year for this. Try for a 30 day settlement maybe.

iPhone’s are good. But battery life is terrible and the fact that u must use iTunes and. A nd not play certain file types.

I can think of one indirect way a trust can help.Say you had set up a few properties purchased under a trust structure. You kept you spouse out of it completely except for being a beneficiary. After a few years your spouse has been getting income from the trust. She/he could then use this income to demonstrate to a bank their own ability to pay a…[Read more]

iphones and apple are crap!I have been using iphones for 6months and am going to convert to Samsung. I have just purchased a Galaxy tab 10.1 and they can do everything an ipad can do, but there is no need to use that stupid itunes at all. You just plug the thing in to your computer and copies files across. So I will be switching over my phone too.

Bloody hell, the formatting changes when posted have a look at http://www.austlii.edu.au/au/legis/nsw/consol_act/ia1987191/s21c.htmlNote, it doesn't say anything specific about time. Just that the duration of the relationship can be taken into account

Subsection 3 came out strage, here it is with better formatting(3) Determination of “relationship as a couple” In determining whether 2 persons have a relationship as a couple for the purposes of subsection (2), all the circumstances of the relationship are to be taken into account, including any of the following matters that are relevant in a par…

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I was curious so looked it up for NSWSpouse is defined at s 6 FIRST HOME OWNER GRANT ACT 2000http://www.austlii.edu.au/au/legis/nsw/consol_act/fhoga2000250/s6.htmlbasiclally if includes some you are legally married to or de facto to.for the meaning of defacto it sends you over to the Acts Interpretation Act, s…[Read more]

You should look at the legislation. FHOG act in your state.I would have thought it would be classed as living in a domestic relationship – which is different to spouse. I haven't looked at it however.

jkl999 wrote:
Hi Terrymy head is easily spinning at the permutations..I did not get your figures..my lack of understanding Im sureIm also thinking out aloud to spousal regear for 550K and then rent the current owned PPOR…but this triggers CGT event I guess..and stampduty ..Im assuming the ACT is not into free spousal transfer ?I think I nee…[Read more]

Those are big numbers. Interest on a $500,000 loan would be $35,000 pa. Dependng on your income selling could mean you have $35,000 pa less in non deductible interest

Read more widely and I think you should do the sums on staying and investing v selling and investing.

Property would probably be CGT exempt if it has been the main residence from the start and never used for income producing purposes or was it possible for the dad to claim the interest on the loan. eg. not used as an office or rooms rented out etc.Another condition is that the land be under 2 hectares.

You will have to read the agreement. Some state that commission will be payable if someone they introduced later buys the property etc.

What about Bob Balanda solicitor. He has written a few books and is up on the gold coast somewhere

You are doing all right – remember you are paying almost double the min repayment on your home loan.If you can refinance those loans to a cheaper rate with less fees it would be good. And yes, pay IO only on the investments as these loans are deductible. Get rid of the non deductible first.

Yes, if you are in VIC there are a lot of things you can do in transferring without stamp duty. In most other states it is more restricted. Your partner may also be able to borrow to buy your share and the money he pays you could be used to pay down the loan on your new home. He would be buying an investment property so the interest should be…[Read more]