Vivek replied to the topic QUESTION ABOUT SUBDIVISION OF LAND – VIC in the forum Help Needed! 17 years, 9 months ago
Amanda,
Thanks for the excellent post !!!!
I have heard that sometimes if the neighbours object you may need to go to VCAT – is this part of the reason that the Development approval may take several months ?
Vivek
Vivek
Vivek replied to the topic WHAT ARE YOUR FAVORITE BOOKS?? in the forum Help Needed! 17 years, 9 months ago
Hi Julie,
Not sure if you have seen the Best of PI.com sticky message – it has a link to a book review list – here is the link: https://www.propertyinvesting.com/forum/topic/6845.html
For me my personal favourites are “The Richest Man in Babylon” – it is like reading a story but the essential principles are all there, and one that has not been…[Read more]
Vivek replied to the topic Capital Gains Tax in the forum Help Needed! 17 years, 11 months ago
Hi There,
I am not an accountant but I believe that the laws related to CGT depend heavily on when the person deceased and when property was acquired (pre or post the introduction of CGT ).
The ATO web site has a specific section for Capital Gains Tax relating to inheritance – check it out at: http://www.ato.gov.au and select the Indivduals, Capital…[Read more]
Vivek replied to the topic Advice on a value in Melbourne in the forum No Subject 18 years, 6 months ago
Hi Summer2006,
I heard exactly the same conflicting pieces of advice which is what made me go to the ATO web site in the first place.
I guess that you have some interesting choices:
1) Hold onto the property and let the value of your tax free capital gain be “diluted†if the market stays flat for a while.
Or
2) Sell the property and rea…[Read more]Vivek replied to the topic Advice on a value in Melbourne in the forum No Subject 18 years, 6 months ago
Hello Summer2006,
I was in a similar situation and I misunderstood the capital gains tax laws to be:
CGT = the valuation when you move out less the cost of the property initially.In actual fact the tax office use a totally different formula :
Total capital gain made from the CGT event x (number of days in your ownership period when the…[Read more]
Vivek replied to the topic Landlord Insurance in the forum Help Needed! 19 years, 4 months ago
Hi Simon,
I am with Westpac – the policy states the “The most we will pay for loss of rent is an amount up to $1000 per week up to a maximum period of 10 weeks”
You can check out the policy on http://www.westpac.com.au/internet/publish.nsf/AttachmentsByTitle/FSR_HomeContentInsPDS.pdf/$FILE/FSR_HomeContentInsPDS.pdf
Hope this helps….
Vivek