Terryw replied to the topic 50% owner – ensuring payment in the forum Help Needed! 8 years, 2 months ago
No
Terryw replied to the topic 50% owner – ensuring payment in the forum Help Needed! 8 years, 2 months ago
1. It’s possible
2. Perhaps
3. NoTerryw replied to the topic Selling Before settlement in the forum Help Needed! 8 years, 2 months ago
My suggestion is to seek legal advice!
Sorry I don’t take calls.Terryw replied to the topic Selling Before settlement in the forum Help Needed! 8 years, 2 months ago
Yes
Terryw replied to the topic New to investing. Where do i start from in the forum Help Needed! 8 years, 2 months ago
Why would you want to invest in mudgee?
I guess these are new properties?
Terryw replied to the topic GST on new build? in the forum Help Needed! 8 years, 3 months ago
Consider then if you are required to be registered
Terryw replied to the topic Conference 2017 in the forum Heads Up! 8 years, 3 months ago
What conference?
Terryw replied to the topic Conference 2017 in the forum Heads Up! 8 years, 3 months ago
What conference?
Terryw replied to the topic Savings or guarantor in the forum Help Needed! 8 years, 3 months ago
It might be smart for you to uses them as you could borrow 104% potentially.
Whether it is smart for them is another question.Terryw replied to the topic GST on new build? in the forum Help Needed! 8 years, 3 months ago
Are you registered or required to be registered for gst and conducting an enterprise?
Terryw replied to the topic GST on new build? in the forum Help Needed! 8 years, 3 months ago
Are you registered or required to be registered for get and conducting an enterprise?
Terryw replied to the topic Capital Gain Tax in the forum Help Needed! 8 years, 3 months ago
Depends on the situation but yes stamp duty can form part of the costbase.
Terryw replied to the topic Family fees and charges? in the forum Finance 8 years, 3 months ago
Stamp duty and cgt would be triggered unless done via a will.
Terryw replied to the topic Good solicitor in Sydney in the forum Legal & Accounting 8 years, 3 months ago
I am a Sydney based solicitor – what exactly do you need?
Terryw replied to the topic 2 x SMSF Commercial Property buy in the forum Commercial Property 8 years, 3 months ago
This is something you need specific legal advice on.
A unit trust may be a good structure, but the trustees could also just buy as tenants in common – should always be a company trustee for SMSF I think.
Also consider having the SMSF borrow to acquire the property as once it is purchased it cannot be leveraged or mortgaged in the future.
Terryw replied to the topic Trust Strategies to Increase Borrowing Capacity in the forum Finance 8 years, 3 months ago
A trustee can give a guarantee for another trust, if the deed permits. But a lender will nearly always require a personal guarantee from a human person.
Terryw replied to the topic Property development fund in the forum General Property 8 years, 3 months ago
Whats your security?
How do you get your money out again?Terryw replied to the topic Loan For Real Estate Investment in the forum Buy, Swap & Sell 8 years, 3 months ago
Are you based in Australia?
Terryw replied to the topic Major capital improvement, new cost base and CGT calculation? in the forum Legal & Accounting 8 years, 3 months ago
You can just look at the law itself. It is pretty clear.
See s110-25 ITAA97
http://www.austlii.edu.au/cgi-bin/viewdoc/au/legis/cth/consol_act/itaa1997240/s110.25.html
Look at the 4th elementno mention of the word “major”
Terryw replied to the topic Major capital improvement, new cost base and CGT calculation? in the forum Legal & Accounting 8 years, 3 months ago
just apportion the original costs between the two lots, and any specific costs for the one property would add to its cost base, as long as not previously claimed.
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