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Question My wife and I have recently sold our PPR in Sydney and we want to move into our smaller investment property that we have owned and rented out for 8 years. Should I get a current valuation in order to calculate the CGT for when we sell the property in the future? Thanks, Ross …
Question I purchased a property in August 2013 with my then partner for $370,000. It was intended as our main residence but we were not able to move in until January 2014 due to work commitments interstate. During this time, a period of 5 months, we rented the property via an agent. In Jan 2014 …
Question I have a client who purchased her property in 1992 for $200,000. the market value today would be around $1,000,000 She has lived in the property for the entire time and now wants to develop the site by way of a Duplex selling one and living in the other. The costs of the development …
Question CGT Question. My partner and I currently own the apartment above our primary residence and have treated it as an investment. Since purchase in 2016, it has been tenanted and negatively geared. We are now exploring the possibility of knocking the two apartments into one – which would be our primary residence. The property …
Question I am a U.S. citizen, became Aussie tax resident May 2012, transferred U.S. family home to a U.S. “living trust” Sept. 2012. (A living trust is basically an estate planning vehicle; title changes, but the tax treatment on the U.S. side remains the same as if the home is still individually owned for CGT/income/etc.) …
Question I originally sent in the below question back in September 2020, which you responded to – thank you. However, another part of the story has revealed itself – see bottom of original question:- My client inherited a beach house in 1975. This house was his main residence until 1982 at which time he and …
Question I have a loan for an investment property with Westpac for $220,000. I also have an unused loan facility with ANZ for $220,000. I want to transfer the $220,000 loan amount from Westpac to ANZ as ANZ is about 1% cheaper. The WBC loan facility will be kept and used for other personal purposes. …
Question My client inherited a beach house in 1975. This house was his main residence until 1982 at which time he and his new wife bought a bigger city home together. They kept the beach house – it was never rented out ever – it has only ever been for private family use. In 2012, …
Question Under the new amended legislation to require buyers of new subdivision of potential residential land to withhold the GST component of the purchase price there appears to me an anomaly with the way the GST Withholding Annexure issued by real estate agents in WA. The notice starts of with 1. Is this contract concerning …
Question I am currently living/retired in Thailand and am considered a Non Resident for Taxation purposes. My mother purchased an apartment in May 2013. She passed away in Feb 2017. The apartment was left to me in the Will and the transfer to my name was completed in Oct 2017. I lived in the apartment …
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