Izzgizz,I have lived in Townsville off and on for quite a few years. In my opinion both North Ward and West End would be considered blue chip suburbs. Parts of West End which are closer to Ingham Road (bordering with Garbutt) are probably not as attractive though as there are some small industrial buildings in that area. The strand is basically…[Read more]

Hi Amanda,

Thankyou for the info.

I thought that assets sold by trusts did not attract the 50% CGT discount but I cannot recall where I read that.

I am still confused about the GST and also whether the trustee can retain income and how that is taxed.

I have approached our accountant but we are waiting for a response.

Cheers,

Gus

We are going through one at the moment near Newcastle (LMCC). Our estimated costs were provided to us by our surveyor who has been involved in adjacent subdivisions. A ball park figure provided to us was about $70k / block (based on 8 lots).

Council contributions $20k / block
Construction (roads, services etc) $40k / block
Surveying, flora,…[Read more]

I did a small labouring job for a chippie in NQ. He layed the decking with reeded side down but he laid the outer border with reeded side up. It looked fantastic!!

I thought I would shed a little more light on our deal just to get some opinions on figures we have been quoted. Also would be nice to get some constructive feedback and hopefully a warm and fuzzy feeling that we are heading in the right direction by those that know alot more than us. Although we have invested in property previously this is our…[Read more]

Thanks Terry

ttman,

Sorry to jump in on your topic but can someone also elaborate and tell me which organisation sets the land value and how can you find out what it is?

TIA

Sorry guys but I am a little confused from the last 2 posts. Please correct me if I am wrong. It is definately a discretionary trust.

The loan and the title should both be in the name of the trustee??? What are the implications of getting this wrong?

TIA[wacko]

Thanks for the information Richard.

Presently we have borrowed approximately 30% of the gross realisation but need that to go to about 50-55% to complete the development. This would include the council contributions of about $20k per block. I assume that council contributions would be borrowed using the construction loan product also?

When we…[Read more]