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 50%GFA to 60%GFA only adds a small amount  eg on 1000m2 site an extra 100m2 (balconies not included in GFA).  Under the new plan 2 storey to 3 storey zone adds an extra 450m2 of site cover (inc balconies).

Also always have a look at the local or neighbourhood plan.  Many identify increases in density in certain areas and these over  ride the city wide zoning.

If you email or PM me an address you are looking at, I will happily give feedback on this forum, with all identify information removed, so that others can have a look also.

regards

D

See a lawyer regarding Asset Protection, accountants are not able to provide legal advice like that.  

I like using various trust structures for property investment.  I think you would benefit from looking at not just the structure for this investment but your overall structure.

Utilising a trust structure that then lends money to your property investment vehicles via a secured second mortgage makes a good start.  Normally have to worry about the rule of perpetuities, but being SA based changes that.

regards

Darryl

I would always say yes.  

regards

Darryl

Hi Ultra

It is with the State Govt and out for community feedback at present.  Council is being cagey as to dates. Hopefully first half of the year.  I am starting to submit some applications based on the new plan, though I wouldn't be pushing the 180sqm lots as yet.

regards

Hi Tom

Terry is correct in that asset protection advice should be through a lawyer, not an accountant.

One huge advantage you have, is that it is easiest to set up an appropriate structure early on. The more assets you have in the wrong structure, the more it costs to put them right.

I have just helped a client through the liquidation of one of his businesses and also personal bankruptcy.  He had some terrible advice 20 years ago on structure.  His accountant had him buy residential investment properties in the same company that his business traded in. He lost a lot more than he had to, over $600k net, that after they pay sales costs, CGT etc will eat up most of the capital and the liquidator will get the rest.  Luckily he had some good advice on a business he setup 5 years ago.  It is outside the reach of both the liquidator and his personal trustee.  It is still a very hard thing to go through, but at least he is still able to receive some income now and once out of bankruptcy will be able to receive more.

I think it is like insurance in many ways, so many people skimp on setup costs and there is no going back if it turns bad or you have excessive tax implications because of the lack of flexibility.$5k in extra setup costs when you are buying a property in the hundreds of thousands of dollars and a couple of hundred more a year is not a lot. If it goes bad there is no going back and fixing your structure then.  Imagine if does go bad done the track and you are going through litigation and staring down the barrel of losing everything and you remember that it was your choice not to setup properly.  It is a terrible thing to go through anyway, but if you put the regrets of your own decisions contributing to you losing everything, rather than just one part of your wealth, it is much worse.  

As TerryW was saying, asset protection from what? Different structures for different things.  

As a general rule, I am a huge believer in the following:

A Master Trust- your first trust that owns all your equity.  It lends money to other entities to do other things, secured by a second mortgage, registered charge of some other appropriate security, with a written loan agreement.

Unit Trusts or partnerships of discretionary trusts for joint ventures

Discretionary trusts for property.

Layers of entities for a property development

Layers of entities for businesses

But if you don't setup properly with correctly worded documents and agreements or your inter entity transactions are done poorly or not documented, then you may as well of done nothing to protect yourself.

Good luck with your research. 

Darryl

Hi 

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Logan City Council is a bit of a different beast, but they currently don't charge for prelodgement meetings which can help if you are trying to push some boundaries.  If you PM the address and what you want to do, I will happy have a look and then post non-identifying info regarding the proposal and issues on here so that others can get something out of it.

Darryl

Hi 

Have been vigorously plugging away at it and have  quite a lot on my new website about it.

http://www.brisbanecityplan2012.com.au

The lot sizes drop dramatically if you are prepared to do a DA for the dwellings at the same time. Min sizes are

Low Density Residential    300 sqm  & 7.5m frontage.  400sqm & 10m for rear lots

Character Residential        300 sqm & 7.5m frontage or 7.0m frontage with rear vehicle access

Low Medium Density Residential 2 storey area  260 sqm and 7.0m frontage 

Low Medium Density Residential 3 storey area  180 sqm and 6.5m frontage or 6.0m frontage with rear vehicle access. 350 sqm & 10m for rear lots

Darryl

Hi DM

Structures depend on whether you are going to keep 1 or not.  A trust structure is often a great way to go, just sounds like your setup costs were on the high side,  If it was for only the trust, was anything else provided.

I would charge $3,500 for a Development site package but that includes

Trust with Corp trustee 

Loan Agreement and Registered 2nd mortgage

Conveyance on the Purchase

1 hours advice on any related matter.

You have to be careful if using the same entity for developing and holding, that the ATO doesn't class you as developer and you lose access to the 50% CGT discount.

Don't know anyone in Melbourne sorry, 

Darryl