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Tax Questions Answered
Question I am planning to buy an investment property – an apartment in Hobart. I am applying for a loan. The lender won’t lend me enough money (new loan for an investment property) to cover the cost of the apartment unless I use my current owner occupied property as security (my house in Lutana, Hobart). …
Question CGT on Rural Property I bought an 85 acre block of land in 2001 and lived in a shed on it until I built a house on it 5 years ago. It is my primary place of residence. I am 57 years of age and have a defacto partner. I have bought and sold …
Question When my wife and I were renting in Sydney in 2010, we purchased our first home to live in country NSW. Due to timing with the finishing work and planning the timing of our move, we rented the property for an initial 9 month period, until we were ready to move. This was also …
Question Hi My family and I are moving overseas in May this year, and we are considering options regarding our Australian property. We have done research regarding the possible Capital Gains Tax implications, but we have a list of outstanding questions which we are hoping will help us make our decision. Background: My wife and …
Question Hi, I am selling my PPR where I have lived for 5yrs 5mths. My current PPR – settlement date was 5/8/2016 and moved in by 11/8/2016 My previous PPR that i want to move back to – settlement date 16/6/2014 First moved in 28/7/2014 [as that was when tenant moved out] until 11/8/2016 I …
Question Selling second home options Capital Gain Questions for my farm in VIC: Purchased: April 1996. $46,000.00 Valuation: Nov 2021 $550,000.00 Aim: To minimise/eliminate my capital gain event on this property? Background We are a same-sex couple (married in 2019) who live in our own home in Melbourne. Our current PPR. The Melbourne house was …
Question Hi, I am after some guidance with regards to selling a rental property (unit in Sydney) in Australia whilst I am considered a non-resident for tax purposes (permanently residing in New Zealand since Feb 2010). The rental property has been owned for 13 years, with it initially being a primary residence however has been …
Question We are an Aussie expat family (Australian citizens) currently residing in Singapore. We are moving to Darwin at the end of this year as my wife is starting work at the local hospital in January 2022. We will be looking to purchase our PPR in Darwin when we move back. We have two investment …
Question In 2020 I used an owner occupier loan to buy a residential property which already had a fixed term tenancy agreement in place. I bought the property with the intention to move in and will be doing so when the fixed term lease agreement ends, which will be eight months after I purchased the …
Question Subdivide PPR, Build on New block…eventually selling New PPR & CGT. 1) 2015- Purchased PPR for $600k 2) 2020- Subdivided PPR (Old PPR worth about $850k, Vacant Block approx $450k). 3) 2021- Commence Build new PPR on Subdivided Block, at cost of $250k. 4) 2022- Sell Front/Original PPR (CGT Free), move into completed New …
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