I’m definitely interested. Is the Yokine Hall meeting on 1/10 already fixed or would you like us to show our hands first?

Cheers,
Don

Thanks a lot Jolie, that’s exactly what we need. We are building two identical houses with the same builder so it shouldn’t be too difficult to prove that they have similar value, taking into account potential slightly different subdivided block size.

It’d be perfect if you were in Perth… If you don’t mind I ask, do you know any good PI-savvy…[Read more]

Thanks lifeX. I think I got your point about doing it as early as possible to minimise the SD payable on transfer. The problem is that as we are subdiving the land into survey strata, council will not issue titles until the houses are completed. So we can’t really split right now.

Another issue is CGT because I believe any transfer is a CGT event…[Read more]

Originally posted by elkam:
Can you please explain the statement above. How can CGT be as low as 10%.

Just for fun, I can think of one scenario – if one has no other income and makes a capital gain of $100k, then with 50% CGT discount, his total income is $50k, on which the tax would be $10,350. So the effective tax rate would be 10.35%.

If the…[Read more]

Originally posted by Terryw:
eg. If someone were to use a LOC on an investment, and then have their wage deposited in to the LOC account, the ATO would class this as a repayment. If they took money out to buy food, then the interest on this would not be claimable as it would be new borrowings for domestic purposes. Over time this could lead to…[Read more]

There can be serious tax implications with using a LOC. Offset is much simpler
Hi Terry,

Can you elaborate on the potential tax implications of using a LOC? I’m using a LOC for my development project, so I’m very interested to any potential problems with this approach.

Thanks,
Donald Xie