nope. much different in nsw. From memory it is stamp duty exempt from one spouse to both spouses but only for the main residence.

Found this toohttp://www.ato.gov.au/businesses/pathway.asp?pc=001/003/022/010/013&mnu=4409&st=&cy=1&mfp=001/003GST and property

What is it?

you get a 50% discount on CGT if the asset is held for more than 12 months. If less, no discount.

It is a difficult topic and I don't understand either.I think when you sub-divide the land it will be treated as new land so if you sell one block straight away GST would usually apply. Not sure if this is the case if there is a house already on the block.CGT – also not sure either

Negative gearing is a good strategy if there is capital growth higher than the cost. Yours is not costing you anything, and $12k isn't much is it? What can you do with the $12k. If you bought another property it would cost you more in stamp duty. Increase the rent on your place and you may be  even making a profit soon too.

it would work like that if they borrowed the money and lent it to you (or gifted).If you were to use one of those family equity type loans they would actually be giving their property as security in addition to the security of the property you are buying. So your loan would be $400,000 less your deposit of $40,000.

what is it costing your per year and do you think it is growing more than that?

you may find some answers herehttp://www.bantacs.com.aulook for the pdf booklets.

I am no expert either, so I asked a developer friend and he said the DA goes with the land and the ownership of plans etc are usually retained by the draftsman – unless you have a specific agreement otherwise with themIf you don't settle then the next owner with 'have' the DA available to them but will have to do the plans again or go back to the…[Read more]

You might have to approach the owner and ask them.Have you spoke to a lawyer yet, and what did they say?

Hi Morgan, in that case it could be in for some CG – but becareful the high return doesn't mean the owners have increased the price to compensate. Maybe you could buy something elsewhere and create a second flat or split it in two and rent each separately.

I would start to plan ahead a bit and make sure you know what you will do when rates hit x%, how will you cope etc. You don't want to be caught out at the last minute and have to sell urgently or suffer a default and be unable to refinance etc.Also I don't think it is a very good idea to buy a property without any CG prospects. Even if it is…[Read more]

or maybe the copyright to the plans would remain with the draftsman.

The DA will contain plans which will show the building which has been approved. These will be owned by the person who commissioned the draftsman or architect I think. without these another person probably couldn't proceed. But they probably could just get their own plans done and apply for an amended DA.

I think your figures seem about right. Advertising may not be that much. If it is your main residence then probably no tax at all, if an investment, then maybe CGT (if it has risen) and maybe land tax. Best to allow a few thousand for unforeseen extras too.

all those fees makes you want to invest in shares doesn't it!!

I think it belongs with the land. So the new owner will be able to proceed with it. But, you may retain the copyright to any specific plans or designs etc.

i was being sarcastic because you didn't want to listen to my (and Richard's advice).

i think you should go with the non bank lender!