Forum Replies Created
>>Why should you discuss it first with your accountant??<<
It is always better to discuss it before, rather than later, with one’s accountant. [
] (bad joke)The real reason I said so ?
I am not an accountant though I try to look at things and situations from a common sense point of view.
Firstly, properties owned before a certain date (1986 ?) do not attract tax when sold.
The moment one strata titles and subsequently sells
all or part of the property it looks (to me) as if the issue may become clouded.The tax department may well take the stance that you are a developer and had in mind all along to do so so as to produce a profit.
The tax in this situation may be more than if one only were to pay the tax on a capital gains basis.
It is a similar situation to when one owns a property which is (or becomes rezoned to) a development site.
Again, in my way of looking at things, I would either have my buyer apply for development approval (or I may even sell the property to a company I own) rather than applying for the development consent in my own name.
Paranoic ? Perhaps. [
]BTW one will generally be able to sell a development site for more money with, rather than without, development consent.
Pisces
So what are the true odds of turning over the same card at the same time in both packs ?
I would have thought we would have some mathemathically minded people here.
Anyway, if no-one is interested in the subject I won’t bother to tell a similar story of how to win money by looking at car number plates.
The odds are some 90% in one’s favour.
BTW Chan, well done (nmice effort – albeit incorrect – if you added up all the numbers in your head. If you used a calculator, I suggest you replace the battery [
]Pisces
Hi Traceytd,
To me the choice between the two properties is very clear and easy.
Go for the one at Clayton, purely because of its size.
A property of 30 sq. metres is very difficult to obtain finance for.
If you had asked whether either one appears a good buy
I would say : ‘Absolutely not. You indicate as much yourself by the words you are using : “Location for capital growth not huge.” (Clayton) and “(although serviced apartments dont grow as well” (Richmond).Pisces
(However, I have been known to be wrong sometimes []hey muppet!!!!!!!
LOL I gotta admit…..I love that choc body paint…..but damn its soooo fattening!! [}
][}][}]The cats we have (2 still missing) and the rats are fine!! After losing 2 dogs…….we went and adopted the most sweetest (dumbest, ripping everything up and god help my washing) kelpie cross from the Lost Dogs Home.
Arty is working hard (so he tells me) and hates that he doesnt get time to Forum.
the house………hahahahahaha PLEASE DONT ASK!!! We have had gas leaks and sewerage leaks….the dishwasher is on the fritz and the ducted heating died from god only knows what disease. The gorgeous mutt we saved from Death Row brought home fleas so ALL the animals have them now LOL (I swear Arty wont stop scratching hahahahahaha)
Lifes been……….amusing!!!
How you and yours doin muppet?????
:þ
] (bad joke)
]
]
