Yes, the $5K is on top of the fed. govt. first
home owner grant $7k. Though, the Vic FHOB(onus)
lasts for I think 14 months only, and it’s in the
form of $$ for FHO to spend in any way one may
like, even to buy something other than property!

I guess the debatable issue here is that I am not
“selling” the subdivided lot to the family
member, and therefore no real $$ involved in the
transaction. So, I would have though for stamp
duty calculation sake, the valuation requirement
will still apply … but not the CGT issue,
certainly not to me being the original owner now
parting part of…[Read more]

Considering myself a newbie in property investment
the inputs here have been really good education
for me.

There is only one main issue that keep sticking
out at the back of my mind stopping me from taking
the next step in investing in more IP.

All investments (stocks or IP) require capital $$
to get into and for most it means mortgage/loan.
In…[Read more]

Thanks for the reply, Dave.
Any idea of a 3rd party company who can does a
quality DD on potential wrapee, short of going for
a realestate agent ?

Thanks
MCW

Hi

I am newbie as well but my opinion is that, having
to choose between paying ATO and the bank, I will
choose the latter, ie refinance the IP1 to get
access to its equity, provided it has some!

CGT could be as high as 48.5% (but one-off) vs
bank interest rate <10% though ongoingly. If you
have other IPs that are already +CF, that may well
cover…[Read more]