Luke,I would talking about the calculating of the CGT in that post.

shumai wrote:
I currently live in the inner west of melbourne in an old house (house 1) that is still owing ~$200K to which I can redraw ~$90K (extra payments). I'm looking to buy a new family home (house 2) in the eastern suburbs and have ~$130K in the offset account. House 1 in the west was bought in my name and we want to keep it as an…[Read more]

luke86 wrote:
2. You will calculate the CGT apportioning the period of time it was your PPOR. For example, if you kept the house for a further 10 years as an investment property after having it as your PPOR for 5 years, you will pay tax on 50% * 10/15 * the capital gain. The 50% is for the 50% CGT discount you get for holding the property for m…[Read more]

Brad,That is a huge interest rate. Hope the loans are deductible.

Peter456 wrote:
Does centrelink know if you have money in your international account? People may transfer money overseas to keep getting payments or start getting payments as overseas banks may not share information with foreign governments. Peter

Nope. The would not have access. But AUSTRAC records every transfer of money sent overseas and…[Read more]

date of contract.

Perhaps the trust could be continued by settling new property on it before it sells all of the real property.

If you are an australian resident then you would have to pay tax on it – or declare the overseas income. You would generally get a credit for any tax paid over there so you wouldn't be taxed double.

This is confusing "The properties were bought as a Unit trust which is owned by a Family Trust."Is the onwer of the properties a trustee of the unit trust with the discretionary trust owning the units? What would happen if this is the case is that the trustee would sell the property. If it is at a loss then the unit trust would have the loss. The…[Read more]

And thisTO Interpretative Decision ATO ID 2002/627 Income Tax Income – Photovoltaic Rebate»http://law.ato.gov.au/atolaw/view.htm?rank=find&criteria=AND~solar~basic~exact:::AND~rebate~basic~exact&target=JA&style=java&sdocid=AID/AID2002627/00001&recStart=1&PiT=99991231235958&Archived=false&recnum=1&tot=7&pn=ALL:::ALLIssue  Is a «rebate» received un…[Read more]

But, see thishttp://law.ato.gov.au/atolaw/view.htm?docid=TXD/TD200631/NAT/ATO/00001TD 2006/31 Income tax: is a government rebate received by a rental property owner an assessable recoupment under subsection 20-20(3) of the Income Tax Assessment Act 1997 , where the owner is not carrying on a property rental business and receives the rebate…[Read more]

I think they would generally not be classed as income, unless you are connecting investment properties or doing it as a business.

He's probably right. Go for an IO loan to access the equity – separate split of course.

Would those companies be related parties? If so then your SMSF would be prohibited from acquiring the shares. There is an exemption if it wouldn't result in exceeding more than 5% of the funds total assets.

Hi

Not sure of the finer details it may also depend on when the house purchased best to ask am an accountant

Yes stamp duty would be claims me as would legals on buy sell. U may have to add back depreciation though

You can do a quick course at the REINSW. takes about 2 months.

$150,000 'profit'take off buying and selling costs, = maybe $120,000 profit50% discount = $60,000 profit90% = $54,000 to him$6,000 to youHe would pay a max of about $20,000 in tax.You possible no tax.It is not so bad if this is the case. (very rough)

Can't see any basis for a stamp duty concession. Market rates would apply.You could have a look at the Duties Act (VIC).

Why would anyone buy a property that comes in under valuation?