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  • Profile photo of InfiniteInfinite
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    December 28, 2005 - 5:52 pm

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

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    December 11, 2005 - 9:52 am

    thanks for the feedback guys

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    December 6, 2005 - 9:47 am

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

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    November 17, 2005 - 7:50 am

    Thanks for that Grossrealisation,

    Especially your idea about NZ companies is very interesting.

    Infinte

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    November 16, 2005 - 4:44 pm

    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 rich entities” hold over $1,000,000 in unencumbered land holdings in Victoria.

    This would be to stop people avoiding stamp duty by previously purchasing shares the company rather than the company directly.

    So am I right to say that buying all the shares in a private company holding over $1m in land would still incur stamp duty at the normal rate?

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    November 16, 2005 - 4:32 pm

    Thanks JKM,

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

    Infinite

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    March 15, 2005 - 7:23 am

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

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    November 9, 2004 - 2:20 pm

    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]

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    October 26, 2004 - 6:27 am

    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

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    October 3, 2004 - 12:37 pm

    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

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    September 29, 2004 - 3:16 pm

    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

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    September 20, 2004 - 4:35 am

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

    regards
    Infinite

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    September 20, 2004 - 4:31 am

    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.

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    September 9, 2004 - 6:25 am

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

    cheers

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