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Question 1. Purchased investment Property Feb 2012 with 540K Loan (A). Was rented out 100% of the time until construction began June 2014 for 3 investment units.2. Drew a construction loan (B) of 450k to build the 3 investment units.3. Shortly before construction started, we decided that we would live in one of the new …
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 We have a discretionary family trust where my husband, myself, our daughter and one other individual are the beneficiaries. We also have a building company of which the family trust is a shareholder. We demolished a property the trust owns and developed the land into 4 units. The building company was the builder. Can …
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 Hi. My partner is working FIFO in Port Hedland. He is on a fixed 4 weeks on 4 weeks off, but is still casual. He receives an allowance which is named on his payslip as ‘breakfast reimbursement, lunch reimbursement, dinner reimbursement’, as well as ‘joining / leaving expenses’ We are reasonably confident that he …
Question About 10 years ago I bought an investment property via a unit trust in a SMSF. At that time the only way to have a property in a SMSF was to also set up a unit trust. The property is 60% SMSF and the company loaned 40%. During the ownership of the property the …
Question I have a variable loan with limit of 450k which i can use to buy proprties. I m intend to use part of this money to do renovation on 4 existing IPs that , 2 hold 100% my name, 1 hold 100% husband name, 1 is held 50%/50% tennants in common. My accountant suggest …
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 …
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