1. generally not
2. generally not

But stamp duty can still result depending on the structure.

Accountants are not allowed to advise on land tax as this is a state tax and constitutes legal advice. Yet, he should have mentioned the dangers and suggested you get legal advice.

Not sure what you mean by a company ‘nominee’. If a company is acting as trustee this doesn’t change anything however if the company is acting in its own right it…[Read more]

Rental return doesn’t really come into it. If you have other non deductible debt you would want IO otherwise you will be throwing money away by paying extra tax. Even where there is no other non deductible debt you should consider an IO loan with an offset as you can save the same amount of interest while building a buffer which can enable a…[Read more]

Yes uncross them now while you can. Its like taking out insurance – you only need it when you need it but you won’t know when you need it.

Interesting question – I am not sure of the answer, but possibly.

Yes that is right AM.

You generally won’t get free legal advice for commercial matters.

VCAT is a tribunal, not a court, so less intimidating. You could probably do it all yourself, but if the other party has a lawyer they may trip you up.
costs would be limited. i.e. if you employed a lawyer and won, you would possibly get the maximum allowable in costs award to you,…[Read more]

spouses, parents, SMSF (a trust!), related party loans, gifts, etc,

Sorry, this is not an area that I advise on.

I think your tax agent doesn’t understand borrowing, or he is not acting in your best interest.

Crossing securities is dangerous.

Personal money. I have lent money out about 5 times and have had 5 lots of problems. People just think they don’t have to pay it back.

Don’t lend anyone money.

On that link you provided the capital growth was listed as negative 8%.

Sorry Fred, I meant the 25% deposit which would be more $42k according to your calcs. You have to work out what you would get investing $42k elsewhere and then compare this to what your return on this property would be.

In terms of building a portfolio you have to consider serviceability. How many loans could you qualify for before tapping out.…[Read more]

If this is the case what is the point in investing in this property? What will you get in your pocket? each year. How much after 5 years?

Where is the $25k deposit and costs coming from? Have you factored in the interest on this? Even if cash it would mean an opportunity cost.

Firstly are you able to sub-divide before building? Your question above should be addressed to a town planner, but in the first post you appeared to mention transfer of titles. This has implications which should be put to a lawyer.

If you had all of your loan contracts properly signed and returned before the bank’s cut off dates then it may be their fault and they may pay. If not it doesn’t appear their fault, but they may still pay – all or part.

I haven’t read your post, just skimmed it (too long) but research ‘deed of partition’

You should see a lawyer for advice before starting as there are strategies to save stamp duty and potentially CGT.

Yes. But not just intention, but the events themselves. So if you intended to buy land construct and sell then this would probably not be taxed as a capital gain, but income. If you can demonstrate you intended to hold, and took steps too, but circumstances changed, then it might be taxed as a capital gain.

Don’t forget GST too.