Monthly archives: November, 2015

Deductability of interest while waiting for property to be sold

Question Good evening,My husband purchased an investment property for rental in November 2011 we sold it in October 2015. We have never lived there nor used for private purposes. He stopped renting it out in January 2014 so we could sell the property as the maintenance was not worth the income, the gardens and yards …

Loan top ups and refinancing

Question Hi Julia,I have a question relating to the deductibility of loan interest following a loan top up and potential loan refinance. The detail of my situation relates to the previous question I sent to you last year, but to recap, I have 3 loans with one bank secured against a single rental property. The …

Main residence exemption

Question Hi JuliaI have a complicated situation. I bought a house with my ex partner in approx 2006 for $298000 (I would also estimate we have spent at least $40000 since then on improvements to the property). We split up in 2012 but for various reasons I still have my name on the property and …

Redeveloping Principal Place of Residence

Question We are planning to knock down our principal place of residence (purchased Dec 1985) , build 2 townhouses, move into one and sell the other. If we sell the one we don’t intend to live in ‘off the plan’ before we knock down the existing residence can this sale be CGT and GST exempt …