Yes i see that no sale would not obvisously trigger CGT, however undertaking such an excercise with again as a example constructing 4 townhouses selling one to cover construction costs and holding the rest.

The problem could arise as the original purchase price of the land bought 10 years was 100K (giving approx 25K base for 1…[Read more]

Thanks guys,

Yes it is the same old story really isn’t it, all part of the fun though!!!

Cheers
Will

Hi Del,

Another possibility, (one which we are considering) is if you have a trust set up, purchase a property in the trust’s name & rent it to you. That way you can have your cake and eat it too.

Just a note I recently read something on purchasing a residence by a family trust and then the subsequent leasing of it to family beneficiaries in the…[Read more]

Hey Nick,

I’m interested in attending, see you there.

Will

Thanks for the replies,

Interesting topic, as i was aware OB licences have a particular life and cycle. I thought that you could only apply for one every 3 years. This being the case i guess one would have to look at purchasing properties where the work required was all internal and not major so that you would not be limited in the number of…[Read more]

Maybe some great opportunities could present themself as Andrew mentioned. Split equity loans, you could in effect ‘half wrap’ a property. Although there are many more issues to be sorted through on the topic! One to keep an eye on!

Cheers
Will

Thanks Michael and Hilary,

So from what you have written I can gather that as suspected GST would only apply to property value increases from July 2000 to date of sale if owned before intro of GST.

More advice from my (NSW) solicitor and accountant – that if you buy a going concern, then there is no GST applicable – this will only apply to…[Read more]

Hi Stephen,

You will find that the depreciation schedule for the building cost using your example of 100K in 1987, begins in 1987. As the on paper value of the property is depreciated to reach zero in 25 years @ 4% or zero in 40 years @ 2.5%. So you have around 8 years of depreciation left. This is also something to consider in your projected…[Read more]