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Tax Questions Answered
Question My husband and I purchased property July 2000, merely realising an asset in 2004 when land use was changed to R30, we built 2 units at the rear of the block. Building commenced July 2006. Rented out June 07. These were on one title until Sept 11. Due to my husbands ill health we …
Question A taxpayer passed away on 20 December 2014. The taxpayer & his spouse owned a private property which was never rented out. However they also owned a rental property which was rented out as soon as they purchased it. The rental property was purchased around 10 years ago. The couple don’t own any other …
Question Hi,together with my family I was transferred overseas by my employer in August 1998. We rented out our home before selling it in September 2001. We subsequently paid a deposit on another home in the next suburb in December that year and settled in February 2002. This house was rented until October 2004 when …
Question Hi JuliaI’ve read the BanTacs booklets and notice boards regularly during the last few years and always find them packed with great info – the best on the web! Keep up the great work! Unfortunately I couldn’t find an existing answer to my current query so here goes…My wife and I have identified a …
Question HiI had a property in Sydney purchased in Nov 1998 for $330k that was my family home until we left Sydney and rented out the house in Feb 2006. In the mean time I rented a place in my new location until I bought another house and moved into it in March 2011.In October …
Question Hi,Three family members with no PPR are looking at purchasing an existing house which is in an area that would allow the building to be replaced with three strata homes. I need to know how to do this with minimum costs (minimising stamp duty, GST GCT etc) . I see complications in the purchase …
Question My wife and I both work full time and live in our house which is our principle place of residence, which we’ve owned for 6 years. We never intended to develop it however recent changes to our local councils planning controls mean that we could knock down the house and build 2 new detached …
Question In 2009, my wife inherited her mother’s property in Williamstown, Victoria and paid out $174,000 in probate and estate costs. From June 2009 until now (March 2015) we have paid out around $16,000 in rates, bills and insurance costs to maintain the property during the long probate period and settlement of an insurance claim …
Question Hi,We are considering knocking down our main residence, subdividing the land and building 2 x new homes on this land.We will live in one of the homes.We are undecided whether we rent or sell the second home.Can you please help us understand any CGT implications of selling versus renting this second house and any …
Question Having read your books, need some further clarity on my situation.My PPoR is a pre-CGT asset,(purchased Jan’1984),now mortgage free, we have purchased another property, currently under renovation that we plan to move into as our new PPoR, it will also be mortgage free (in approx 8 months) by the time we move in.We plan …
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