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Question I bought a shop on 25 June 1992 and it cost $188,448. I ran an antique business from the shop until 26 June 2003, when I retired. The shop was then rented to a jeweller. Commencing on 1 November 2007, I transferred one third of the property to my Self-managed Super Fund and the …
Question We are building a house to sell and will have to pay GST and income tax on it as we don’t intend to move in. We have been claiming Gst along the way and have set up an ABN. We have two lines of credit – one for $150000 which covers both our own …
Question Entirely- contrary to Newsflash 8Feb.2008 now_ Ihave it upon -warranted! advice , that-with a prior profit making intention , the main residence exemption -CAN_ be available (Duplex Proposal Finding 4.12 Bantacs Ninghi , financed by me). Associated Duplex Finding 4.1, 4.2 seem contrary , to also How Not To Be a Developer Booklet (definition …
Question I posted this on Property investing last night and was told to contact you more more advice.We purchased a property in 1998. This was our PPOR till early 2007. We demolished our PPOR and subdivided the land into two lots. We refinanced and built a new house on one of the blocks and made …
Question I have built a spec home but could not sell it, I am now living in it. How long do I have to live there to cover it with my main residence exemption? Answer You are not entitled to use your main residence exemption to cover this property because the profit on it is …
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