I was going to comment that it is now spring and they won't need it until next year but after today's weather with snow in the Blue Mountains, Northern Tablelands, Southern Highlands and around Goulburn they might be within their rights to expect it to be working.

Any way you cut it, it will be an expensive exercise to redo your strata plan to encompass different buildings and common areas. You risk having to do a complete building upgrade to current standards – which nobody is going to be happy about, you will also need to prepare new plans of subdivision, lodge DAs etc. So it is not a small task.

If you…[Read more]

Levies are based on your unit entitlement so of the townhouse has more land (& value) the unit entitlement and your obligation would be larger.

It’s surprising that there aren’t at least 2 schemes for your block ie one for units and one for townhouses.

The costs that you will incur include: Agent's commission, say 3% inc gst, advertising, legal fees (contract preparation, searches, petties), surveyor (possibly), payout of any mortgage/discharge fees. (You may be able to get the agent down around 2.2% incl gst)

If you have been paying to maintain the property you should deduct these costs from…[Read more]

As a rough rule of thumb, the only capital growth in many of the new suburbs is because of new house sales not resales of 2nd hand homes (check the stats for resales).

If the adjoining areas have higher prices on face value (yes skewed because of new construction), then QH will look like the poor cousin creating its own market as it is perceived…[Read more]

Don't get attached to the place ie don't put in a floating floor as it will get stressed then so will you.

While you're at it, throw in a new vanity in the bathroom if the rest looks OK.

Tax in the smsf is limited to 15% or zero once you reach conditions for retirement (so there goes CGT once you retire). Remember that you cannot live in any of the properties you buy (like it sounds like you want to).

You can still contribute up to $25k each annually to the fund (so within a year you can have all your existing balances from your…[Read more]

bundle your properties within small groups – there may be a discount for having several properties with one agent.

Probably best to speak to a stormwater engineer as they specialise in this field. The 'pit' is a series of trenches in the shape of a fish skeleton ie  one main trench with lots of little branches however on a suburban block there isn't the space for lots of spines.

Find out from the town planner working for council what the issue is – there is no point speculating and wasting energy. If it is indeed stormwater find out what your options are. Yes you may  be able to build a herringbone drain/absorbtion pit but in Mt Druitt with the clay soils you will need a lot of space for them to work effectively in such…[Read more]

Jamie just ruin your PM’s day and make them attend (it’ll cost you though).

Why should banks move at the same time, direction and magnitude as the Reserve Bank? State Govts borrow from the RB not the commercial banks, they have to pay for their funds (from shares, deposits and borrrowings).

My heart bleeds for the banks who are always under the hammer (just waiting for my ANZ share to level out a bit).

That is basically the summation methodology for valuation ie the sum of the parts. Remember that the bank will probably only lend 80% of that value.

You can always look at the myschools website. It may give you some idea as to how the school performs on various levels. As Catalyst said, you need to make sure your kids will be a good match for the school as well. Alternatively, you can check the school's website or contact the enrollment officer at the school.

Schools such as Cheltenham Girls…[Read more]

Jamie M wrote:
Must admit – I didn't see this one coming.

It's amazing how the banks have pre conditioned borrowers to expect less than the full cut these days…..

Cheers

Jamie

Personally, I’m not expecting much from the banks. After all, they don’t borrow from the Reserve their funds come from deposits & borrowing (locally or overseas) so…[Read more]

Provided of course that you don’t have another place you are calling your ppor.

Torrents Title (sic) may be subject to sudden burst of water.

But seriously, you are the master of your own destiny with TT whereas with ST there is a little more rigor about your obligations to maintain the building and common areas eg obligations to effect insurance over the building, undertake maintainance, get on with your neighbours (to…[Read more]

You have got to remember that the US is the country that brought us CMBS (and the GFC) ie create a debt product backed by really dodgy loans call it an engineered financial product and sell it overseas to super funds and councils seeking higher rates of returns without explaining the risk behind the product – that is why our banking system didn't…[Read more]

Definitely agree with AG2000. Your accountant is in the best position to advise how much cgt will be due. The cost base will be adjusted by any depreciation that you may have claimed also.

Basic presumption: have you been served a notice by the BCC that they are seeking to compulsorily acquire your property? – if not, you can sell which ever way you like to whoever (ie auction as above). Running off to media outlets will make you out to look like a real dropkick. Use your consultant valuer to determine the value of the property.…[Read more]