Monthly archives: January, 2015

Am I a Developer or Merely Realising an Asset

Question September 2014 my husband and I sold our home and purchased a property on 774sqm with an old house. Our intent was to demolish the house and build a new home for ourselves. We moved into the old house immediately after settlement and intend to live in it until the new house was ready …

subdivision of land

Question what are the income tax and or capital gains tax (cgt) implications on the sale of ten (10) pre 20 september 1985 subdivision blocks of land under the following four (4) scenarios:-1. outright sale of ten (10) subdivision blocks of land in 2015.2. outright sale of eight (8) subdivision blocks of land in 2015 …

Loan Consolidation with new lender and maximising debt against rental properties

Question Hi Julia,I’m in the process of refinancing my loans, which look like this:Principle – $1.5m ($2.25m value)Investment 1 – $620k ($600k value) – jointly held with partnerInvestment 2 – $220K ($275k value) – jointly held with partnerInvestment 3 – $728k ($840k value)Is it possible whilst refinancing to move the debt up to the valuation …

Two Apartments Occupied as one Principal Place of Residence

Question I owned and resided in two apartments that had been joined together and when the building was built . It was two titles and were not capable of being sold individually at the time I moved to a retirement complex . I lived in the apartment for 4 years . When I moved I …

Transfer of protperty between spouses for financial reasons

Question My wife & I have 2 negatively-geared properties in joint names. We are listed as joint tenants which means 50& share each.She ceased working as of 20Jun14, & so her share of the tax loss is wasted as she can no longer offset & get PAYG back from 14/15 onwards.Her tax refund was critical …