Hey all, just a quick couple of questions…. What is the current max LVR for towns with a population of less than 10,000(within the big 4)? Is there are requirement for LMI for under 80%? Also, When buying blocks of units, with the intent to strata(if not already) and sell individually, When purchasing can you define the amount you pay per unit to reduce Capital Gains upon sale? Example: 4 units for sale in a line for $200,000. Already strata titled with an individual value of $60k. The purchaser intends to sell 3 and keep 1. With this in mind, Can the contract/s reflect that the purchaser paid $60k per unit for 3 units and $20k for the last unit(being the unit that the purchaser wanted to keep). Total $200k. The intent of this would be to reduce capital gains tax on the 3 saleable units. Is this legal? or is there another factor that I should have considered? Cheers Mick
Mick
Hard oen to answer because it all depends on where and what.
Just done one for 95% in a very small town although it was an owner occupied property.
With regards to Strata Titling yes you can differentiate on Unit prices (Have done on a Country block i bought in Victoria) but you would need to argue the reasons why i.e one was a 2 bedroom unit against a 1 bedder or bigger internal size etc etc
Of course you would need separate Contracts and the vendor to agree as his Capital Gains tax could also be effected.
Richard Taylor | Australia's leading private lender
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