thanks for that guys, i appreciate the detail, it helped a lot![exhappy]

thanks for the feedback guys

If anybody is interested I am selling my wrap kit on ebay. Happy bidding.
Thanks,
Infinite

Thanks for that Grossrealisation,

Especially your idea about NZ companies is very interesting.

Infinte

I’ve found some information on the web:

“stamp duty in the State of Victoria on transfers of shares in companies or transfers of units in unit trusts has now been abolished whether public or private vehicles – with the exception of transfers in “land rich entities”,
Source: http://www.baldwins.com.au/a_bigstamp.php

It goes on to say “land r…[Read more]

Thanks JKM,

do you know whare I could find the rates for company share transfer stamp duty

Infinite

Thanks for the replies they were most helpful.
[biggrin]

Feel free to PM if anyone out there is interested. Or I am willing to buy lunch to meet with any experienced wrappers in the Melbourne area for the chance to pick their brains.[cheesy]

Thanks for that info. I’m asking in regards to Victoria acutally

has anybody ever heard of a real life situtation when that has happened, and what happened with the SRO?

regards,
Infinite

Thanks guys for all your info, it was extremely helpful. Seems like an interesting topic…

Basically I was asking from a legal perspective. So I gathered that technically the wrappee has no protection if the banks choose to sell the property even though there may be a caveat and UCCC requirements about the loan.

Thanks
Infinite

Sorry I didn’t fully understand your post Mortgagehunter. I’m interpreting it as you saying the it’s better to not be in partnership??

Thanks
Infinite

Thanks for that Terry. The story is from a reliable source so yes they must have gotten the guarantee from the wrapper…

regards
Infinite

I’ve recently opened one too and i’m pleased with it. flexible and with fair interest rates. Previously had the HSBC one but that requires a minimum of $5000 before getting 5% plus interest rates.

Thanks for that, it really helps and in my situation of planning to buy an IP first it’s good news to hear.

cheers