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Scott No Mates
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January 13, 2011 - 10:32 pm
Hi Sonny,
it will come down to what is in your lease (obviously, there are many variables there again). Is it a retail lease – if so, then there are remedies available for retail lessors/tenants including mediation. If it is a commercial/industrial lease, there is no such mandated process like mediation, your only remedy will be to take legal action and to rely on the proactivity of your property manager.
It is always important to read the entire lease. The lease schedule will indicate how much the tenant will pay in year one ($1,000) and lease clauses will indicate how these amounts may be adjusted (or if they can).
SNM
Scott No Mates
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January 13, 2011 - 2:34 am
If it's not too hard, just ring the ATO, ask for someone who deals with capital gains tax and they will give the the information that you need without you needing to disclose all of your details.
Scott No Mates
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January 13, 2011 - 1:45 am
I too would go masonite – it has been used forever & a day. Cheap as chips. If you are still concerned after laying masonite, then use a little self levelling compound but it shouldn't really be necessary. You will need to prime the masonite to get the floor leveller to bond.
You can get thin insulation to go with the floating floor, this would be laid over the masonite and takes out much of the movement if the subfloor (masonite) is slightly uneven.
Scott No Mates
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January 12, 2011 - 8:44 pm
Spot on ip & br. There’s more to life than property but the property is there to give us that life.
Scott No Mates
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January 12, 2011 - 8:39 am
you can do whatever you like with the mortgages. Unfortunately, it will remain non-deductible as the purpose of the loan has not changed.
Scott No Mates
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January 12, 2011 - 7:31 am
Can you explain it to me like I was a 5 year old?
You would lose on stamp duty/transfer, capital gains tax, land tax threshold etc to save some tax?
You will need to prove to the bank it is worth $600k
Scott No Mates
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January 11, 2011 - 12:31 pm
try bmt QS
Scott No Mates
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January 11, 2011 - 12:04 pm
no probs fword, I could send you in the right direction for Sydney but can’t do much for Melbourne.
Scott No Mates
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January 11, 2011 - 9:07 am
I had heard of some good bargains in Az today. Client heading back to live & has picked up a steal @ way less than replacement cost & in a good area.
PS where do you board in Az?
Scott No Mates
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January 11, 2011 - 7:52 am
if it is on common property, then it will always be at risk unless you have exclusive use ie it does not pose any risk to BC or other owners, you can’t insure it unless it is ‘yours’ & BC don’t want the risk.
Scott No Mates
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January 11, 2011 - 7:47 am
this is old news, see previous posts.
Scott No Mates
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January 11, 2011 - 7:43 am
buying costs: solicitors/Conveyancer, stamp duty on mortgage, mortgage registration, loan application costs, bank valuation, mortgage insurance, buyer’s agent fees, pest/building inspections
Selling costs: survey, S149, solicitors/Conveyancer, mortgage discharge fees, loan break fee.
Scott No Mates
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January 10, 2011 - 10:45 am
Do you have a realistic budget for construction, subdivision & council s94? Does it still stack up after gst is borne in the deal?
Scott No Mates
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January 10, 2011 - 10:37 am
Which state & city fword?
Scott No Mates
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January 10, 2011 - 8:51 am
a pest/building report is a totally different beast from a tenancy condition report, the latter noting wear & tear, marks & items of a non-structural nature.
At least you have now been made aware of these non-disclosed items.
Scott No Mates
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January 10, 2011 - 8:45 am
has there been a special resolution granting exclusive use to your unit? Can you make the appropriate approach to body corporate?
Scott No Mates
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January 9, 2011 - 12:58 pm
if the company is going to provide services worth >$75k then you’ll need to register. You cannot collect gst (issue a valid tax invoice) without being gst registered.
Scott No Mates
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January 9, 2011 - 8:45 am
1 you’d be in breach of the residential tenancies act by not having lodged the bond with the bond board
2 you would be bound to comply with all of the requirements of the act
Not sure of the penalties or remedies available but it would be controlled by fair trading or vcat.
Scott No Mates
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January 8, 2011 - 11:25 am
a recent sale of several ex-hc houses resulted in massive gains for the purchasers.
Scott No Mates
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January 8, 2011 - 11:21 am
watch out for tin termites. Much bigger teeth.