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eyes2thesky

  • eyes2thesky replied to the topic Steve’s Seminar in the forum Help Needed! 15 years, 12 months ago

    Thanks for your responses, Michael & Roslynn :)You're right – I just need to sign up! I'm sure I will benefit from the material.Thanks guys,eyes2thesky

  • eyes2thesky replied to the topic Why purchase in a trust? in the forum Help Needed! 15 years, 12 months ago

    Hey Guys,I had an incident with using the 'and/or nominee' option with a contract not long ago and was advised by a solicitor the following:If you do put 'and/or nominee' on a contract, the nominee needs to be in existance at the date the contract was entered into. i.e. if you signed the contract on the 1 Jan 08, the nominated entity you decide to…[Read more]

  • eyes2thesky replied to the topic Premium Finance in the forum Opinionated! 16 years, 2 months ago

    bluedog47 wrote:
    agree v8ghia,it is pretty sad it takes days to have phone calls returned and even emails, you'd think they would all have a computer at home.Just a word on the seminar thing as well, with this mob its not actually a seminar they get a half a dozen couples up for the weekend but the whole thing is done in one day, roughly 7:30am…[Read more]

  • eyes2thesky replied to the topic Bowen Basin QLD Mining Towns – Opinion on offer in the forum Help Needed! 16 years, 2 months ago

    BuilderBob wrote:

    melhart wrote:
    Hey guys,I've actually been eyeing off Moranbah for awhile now. We used to live in Mackay so we had a good idea of what went on out there (company's leasing houses for miners) and the higher rate of rent charged.I've found this thread very interesting – thankyou to all who have contributed. And it has fired up…[Read more]

  • eyes2thesky replied to the topic Bowen Basin QLD Mining Towns – Opinion on offer in the forum Help Needed! 16 years, 2 months ago

    Hey guys,I've actually been eyeing off Moranbah for awhile now. We used to live in Mackay so we had a good idea of what went on out there (company's leasing houses for miners) and the higher rate of rent charged.I've found this thread very interesting – thankyou to all who have contributed. And it has fired up this Moranbah IP idea again. So i've…[Read more]

  • eyes2thesky replied to the topic paying off ppor in the forum The ATO will look where 16 years, 3 months ago

    The ATO will look where your refinanced borrowings have gone. If the additional borrwoed funds are used for private purposes – non-deductible. They don't consider what the security of the loan is but what the borrowings has been used for.

  • eyes2thesky replied to the topic cgt & gst on the sale of developed block in the forum Value Adding 16 years, 3 months ago

    Hey Ambers,Well, as your original purchase was for residential only, it's likely it was an input-taxed purchase – which means no GST.However if you sell a portion with a new dwelling on it, it converts it to a taxable supply (the sale transaction only) – GST applicable. So your sale price would include GST. i.e. if you sold it for $550,000, then…[Read more]

  • eyes2thesky replied to the topic cgt & gst on the sale of developed block in the forum Value Adding 16 years, 3 months ago

    Hi Ambers,This is a complicated area! I would suggest seeking professional advice from your accountant or finding one who specialises in this area. From my own private research I have discovered that yes, the sale of residential properties are input taxed (not subject to GST), however the sale of a *new* residential property is a taxable supply (a…[Read more]

  • eyes2thesky replied to the topic Renting a home from yourself in the forum Help Needed! 16 years, 3 months ago

    Womma wrote:
    As I understand it, you can do as you say with the biggest disadvantage being that you can not get the capital gain deduction if you sell the place through the trust. 

    Trusts are entitled to the CGT 50% discount (from holding asset for 12 months or more) just the same as individuals. It's only companies not entitled to d…[Read more]

eyes2thesky

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