Hi Michael

No worries and likewise

D

Also have a look at your structuring overall.  Different entities work for different purchases in different states.  Also you may find an entity more flexible in the future should there be a change in one partner's income.  Small outlays on setup can be more than made up for in taxation savings on a sale if you ever need or choose to sell in the…[Read more]

Our inquiry level is through the roof in the planning practice compared to this time last year, and real estate agents I talk to are busy.

How this pans out is more for the Terry's of the world

D

I thought you meant Terry W

Hi Mick

This is what we charge at the law firm

$1235 for SMSF trust and Corp Trustee and advice
$1235 for Bare Trust and Corp Custodian and advice
$595 for Related Party Loan Agreement and advice

Prices vary greatly depending on whether any advice is included and also some accounting firms heavily discount the way in , in return for getting the…[Read more]

Hi Terry

Not good.  I have seen some shocking advice given to people.  

How does buying the your house in the company that also owns the business and then renting it from them sound.  

It is when you are dealing with liquidations, administrations and bankruptcy that you really see the benefit of asset protection advice.  

Any chance you could…[Read more]

Ditto what Jamie said

Especially if you are look at the succession side of things, that is an area that Terry W is right into.

D

USE A COMPLETELY SEPARATE ENTITY

I have 2 clients at the moment that are under external administration and them not using separate entities for business premises has cost them a fortune, one example below.  I am rather opinionated about this but that has come from having grown men crying in my office because they have lost everything they have…[Read more]

Cheers Richard

Having you as a client would prove very educational too me Thinks

Darryl

No worries. i have had it for age,  others may as well get some benefit. D

Not so far.  It is supposed to be quiet this week and I have been hammered.  Great start to the year, hope it keeps going.

Jamie, great minds think a like , I recommended Proogle go see Terry W on another forum, but I beat you by a couple of hours.

Hi I

I have done DA's for 3 this week.

Another I put in just before Christmas in Holland Park was sold off the plan, 1 lot on the first day, 2nd lot on the 2nd day.  No approval yet and crappy old house still sitting on the block.  $329 a lot taken at listing price, no views, nothing special about the blocks, in a Cav Rd High Catchement which is…[Read more]

Hi

Is it LMR 2 storey or 3 storey

Have you checked out if the neighbourhood plan changes anything

My clients have been buying around the 150K a site for middle-outer stuff like Zillmere

Infrastructure charges 18k per 2 bed 26k per 3 bed, 1 credit for the existing lot

Town planning fees $3600 plus GST 
council app fees $5205 – $7690
Surveying…[Read more]

Second that

Andrew is outstanding

D

PS
forgot to mention that you need to use a different trust structure for developing than investing.  If you utilise the same it is likely that you will be classed as a developing business and that you will not be eligible for the 50% CGT discount for investments held longer than 12 months.

Use of unit trusts v discretionary trusts will depend on…[Read more]

Hi HKR

I would normally recommend a multi-layered trust structure to get you setup initially.  And then you utilise a separate trust structure for developing to that you would use for investing.

For Asset protection, the multi-layered helps protect your money.  So you set up a trust that does nothing except for hold the equity you gift to it and…[Read more]

Hi P

Unfortunately the property is outside the sub precinct of the neighbourhood plan near the train station that would have allowed 3 storeys.

However, the neighbourhood plan encourages units and townhouses for elderly people and students near centres such as the train station.

My Map measurements show the property to be just inside the 400m…[Read more]

Hi P

The new local plan encourages the development of higher densities in close proximity to the train station.  It is street dependent, if you PM or email me the address I can have a better look.  Chances are you are looking at being able to do several stories of units or subdivide into substantially smaller blocks of land.  It goes as low as…[Read more]

Hi Ged

They apply to LMR, MR and HR zones also.  The Council has increased the distance it considers close to transport from 200m to 400m.  Basically what is happening is that LMR is being split into 2 storey zone, 2 and 3 storey mix zone and 3 storey zone.  With the sites within 400m being 3 storey zone.  So whereas at present the jump from…[Read more]