Category «Rental Property – General»

Buying commercial property through SMSF

Question Hi Julia,I am in the process of making an offer on a commercial property through a Self Managed Superannuation Fund, and the agent has advised me that I need to have the fund setup prior to making the offer. Can you please answer the following questions for me.1. Should the fund be “Individual” or …

Sale of a property – money to go into my SMSF

Question I purchased a property nearly 14 years ago in the name of my Trust and company name, to live in initially and with the potential to knock it down and construct units on it.(its actually two blocks total area of 2739 square meters.After living in it for 12 years, I now rent it out …

Changing principal place of residence

Question Hi JuliaFirstly I’d like to say I’ve read some of your book and it’s very informative and factual compared to other books. It’s hard to read some sections for someone who isn’t familiar with tax and investing.My question relates to the following situation:I have a house which is fully paid off and valued at …

Gifting rental property with lifetime interest in rental income

Question I am considering gifting my rental property to my child. My lawyer will draw up the paperwork, obtain valuations, etc.I wish to retain the rental income for living expenses and will pay the rates, insurance, etc. The property is 100% owned.Do I continue to show the income as rental income and claim deductions after …

Is this an investment loan

Question Like many parents I would like to help my son onto the property ladder by contributing 10%-15% of the value of the purchase price. I am however wary of gifting the funds, If my son and his partner split she will be able to claim half the net proceeds from the sale of the …

CGT considerations for development

Question Hi Julia,I own 4 properties in Australia. All of them are in South Australia.Please note that in some cases I have referred to myself as the “Husband” belowBelow are the ownership details for the 4 properties:Property Purchase year Current Mortgage Ownership % Taxable site value (for land tax)A _ Investment Property 2008(before marriage) $125,00050% …

Should we sell or hold?

Question BackgroundWe purchased an old house in 2010 with the intention of demolishing the existing dwelling and building a new duplex. At the time, we intended to retain both of the new townhouses as investment properties. We did not register for GST.Now that the buildings are almost finished, we are undecided on the best course …

Sub Division

Question I have a trust set (owned 50/50 by 2 trusts)up with the following:1000sqm block – one old house rented out and building strata – new house at the back of the block – rented out – 2 years old.in Geraldton wa.1250sqm block in Frankston South VIC with old house and granny flat. currently rent …

stamp duty consession / cgt

Question Approx 2.5 years ago we purchased a vacant block of land on the north coast of NSW. We received a stamp duty concession of approx. 1100.00 as a first time buyer. We had a home designed with council approvals but our circumstances have now changed.We now reside in central Qld and are in the …

Deductions for building studio/granny flat

Question We own a 280sqm block with an existing house. We bought this property in January 2011 for $1M.We rented out the property for the first 18 weeks of ownership.The property is now valued at $1.1MWe plan to build a garage with a self-contained apartment above (the studio will have 35sqm living area of a …