I was of the understanding that land tax is only calculated on the unimproved value of land. ie if you simply own a block of land with no dwelling. Thus this would not apply to an investment property.

Land tax is calculated on a calendar year based on all land owned as of midnight dec 31st and asesments are issued between March and May each…[Read more]

Congrats to your mate on purchasing his first property.

Lets all remember this guy has just purchased his first home. I’m sure you all remember how excited you were when you purchased yours and how keen you were to get in there as quick as you could, he hasn’t purchased it for someone else to reside in. It’s just unfortunate that that other…[Read more]

Hey all,

Here’s a couple of links to tha ATO being tax time I found them appropriate.

Rental Properties 2003

http://www.ato.gov.au/individuals/content.asp?doc=/content/31610.htm

Rental Property Expenses

http://www.ato.gov.au/individuals/content.asp?doc=/content/31258.htm&pc=001/002/013/003&mnu=923&mfp=001/002&st=&cy=1

Capital Gains…[Read more]

nice one westan, I managed to double my post count tonight.[]

Cheers.

Hey there,

261k you guys have it easy.

In Victoria fom 1st Jan 2003 the land tax zero-rate threshold was raised from 125k to 150k. yipee..

Only taxpayers who own land with a total unimproved value of 150k or more are required to pay land tax.

Cheers.

Hwy sebastian,

Firstly having the property valued will not reveal the construction costs of the property unless by some chance the vendor has kept all records from there purchase and is willing to allow you to view these documents. A quantity surveyor will be required to calculate construction costs which if built say 10 years ago would be…[Read more]

Caz in perth,

Are you aware of any web sites that have chart trend info for victoria like what you have linked to.

Cheers,
Chris

Obviously the idea of converting it to a 2 bedder is a great one. The only fix to the lighting problem is to place a window through to the balcony from the main bed and single bed you may even consider placing some bi-fold doors from the main bed to the balcony.

I have an issue with the overall plan though. Do you think it is necessary to have…[Read more]