No I did not get an invitation.  And, as this thread has shown that people affiliated with Premium Finance are complete fools and incapable of realising the damage they are doing to their company by continuing to reignite this incredibly damaging thread, I wound not "explore the operation" even if given an invitation.Listen.  Do you hear that?  Du…[Read more]

Triumph95Please please please tell me that you are just a troublemaker trying to stir up the forum a bit.  I would be horrified to think that someone who can't spell, uses incorrect punctuation and grammar, is rude and illogical, may be someone actually related to Premium Finance.If you are related, all you have done is make yourself and the…[Read more]

Triumph95Please please please tell me that you are just a troublemaker trying to stir up the forum a bit.  I would be horrified to think that someone who can't spell, uses incorrect punctuation and grammar, is rude and illogical, may be someone actually related to Premium Finance.If you are related, all you have done is make yourself and the…[Read more]

Yes that does sound excessive.  The GST should be 10% of the management fees plus statement fees, that is, $2.96.  You have been charged 10% of the management fees plus statement fees PLUS rent.  Your PM is incorrect.CheersK

Hey freelanceIt's all quite complicated and being slugged out in the courts at the moment but what you have suggested is quite possible.I suggest that you find a good property lawyer and get some solid legal advice.  Then go see an accountant and get their advice.  Then see if you can find a happy medium between the two!  I know it sounds glib bu…[Read more]

I have two trusts, a DFT that I use for long term investments, and a corporate trustee for all my developments.  I have held up to 10 properties in my DFT at a time and don't have a problem with having so many in the one trust.   Using trusts to protect assets is no longer a fail safe solution these days.  Courts are starting to strip back the leg…[Read more]

I have just used cheap roman blinds.  They are very inexpensive, easy to put up, look quite modern and if worse, comes to worse, easy to replace.CheersK

Hi BomisIf the property is in joint names then you can only claim 50% of the deductions.However,  you may still be able to rectify the situation.  In several states, providing you have put the purchaser as (your name) and/or nominee, then you can still elect to have the name of the owner changed to your name only.If the purchase is subject to f…[Read more]

Offer to pay her land tax if she pays the stamp duty.  That should shut her up.

If you transfer your PPOR to DFT you would have to pay stamp duty on the transfer.My policy is to never transfer property from one entity to another after I have bought it.  The costs are just too great.  I have a couple of properties that I wish I had purchased in another entity, but I won't be transferring them over.CheersK

I'd be "sorting" it by telling her to go jump!K

AaronIf your share of 4 deals was$950,000, that means that the total profit was nearly 1 mill per deal.  Where were these deals and what were they?  They must have been absolute montys!K

What stage of the transaction are you at?  Can you walk away at this stage? If you have only just signed the contract then your conveyancer wouldn't know how much the land tax is yet.Land tax until settlement is a debt incured by the vendor.  The only way you can pay the land tax is if you agree to pay it, which of course you won't.It will be s…[Read more]

Given the use of the word "lawsuit" and the spelling of the word "flavors" I'm quite certain that it is that little lesser know state called United States!K

Hi WJI think that you are correct.  If it was an IP and you transfer into your joint names then you would have to pay CGT on the market value of the place at the time of the transfer.  And it would have to become the PPOR for you and your spouse.I don't know that there is any real benefit though.  If you owned an IP in your own name and then ma…[Read more]

I think that PRD Nationwide have those figures on their site.CheersK

Based on the legislation posted above, presumably NSW and QLD, it looks to me that these transfers are only exempt if the transfer is from one party to both.  For example, if one person owns the property, they can then transfer the property into both their names.  Based on the above, it doesn't seem to me that the transfer can be from one sp…[Read more]

I think that you have to pay stamp duty.  I have read comments about transfers between spouses being stamp duty free but my understanding is that unless there is a property settlement as a result of a marriage breakup there must be stamp duty and potentially CGT paid on any name transfers.CheersK

I agree with RichardYour brother's bank has said no.  This means that the finance clause (if there is one) has not been met and the contract can be cancelled.  If the developer has now reduced the price, this means that a new offer is on the table.  An contract cannot be amended unless both parties agree to the amendment, even if it is a re…[Read more]

Because the market is slow at the moment, it may be worthwhile asking whether you can buy under non-auction conditions, that is, put down a smaller deposit, have it subject to various conditions such as finance, building etc.The agent can only say no.cheersK