Ask Ban Tacs Subdivision
Question Extra payment for amazing reply. Also, it is so clearly written for easier understanding, which I appreciate. Thank you Julia. Regards Maddy Answer Wow, thanks Maddy
Capital Gains Tax — the second part of the question
Question I bought a house 15 months ago. It is a corner block and I will be able to subdivide it. I paid $455K ex SDuty for it. The house is 815 sqm. The subdivision will leave me with the house being 500 sqm and the new land 315sq. The subdivision will cost around $30K …
Capital gains – email yesterday/today refer — this is the first part of the question
Question I bought a house 15 months ago. It is a corner block and I will be able to subdivide it. I paid $455K ex SDuty for it. The house is 815 sqm. The subdivision will leave me with the house being 500 sqm and the new land 315sq. The subdivision will cost around $30K …
Preserving the future deductibility of my mortgage
Question Hi Julia,I have a query around ensuring the future deductibility of interest on my mortgage.I purchased a property for myself and my wife to live in around 18 months ago at a 90% LVR. The loan for this was established as interest only with an offset account, given the expectation that at some point …
Splitting of loans and share purchase.
Question Hi JuliaBackground:I have a property that was purchased originally as my place of residence- and I lived in it for about 2 years, before moving and then renting it out. The loan secured over this property is for a total of $297000. The loan was originally a line of credit loan. After paying a …
GST for overseas clients
Question When invoicing overseas clients for my work as consultant, will I need to charge GST? (I work through a company that is registered for GST) Answer Yes if the work is performed in Australia
PPR and Rental Property
Question I signed a contract on 15 Dec 1987 to purchase a property.Settlement was on 15 Feb 1988The purchase price was $80,000.The property was immediately tenanted.I have never owned any other premises.I moved into the property in 1991 and resided there for approx. 10 months.When I moved out the property was again tenanted.In May 2003 …
GST and duties
Question Dear JuliaFurther question re Ask Bantacs #459 22 May 2013.The facts remain the same as our earlier question.We have 2 scenariosOne scenario is to liquidate the company as a whole (ie sell/transfer both blocks) with a return of capital to the shareholders as you suggested in your answer to question #459.Some of the funds …
business – developer – reducing non deductible debt
Question Next year the profit our business (pty Ltd) will make will probably be $1000000 before tax (30%). All business loan balances will be Nil. Is there anyway using PBR79002 (or other) to transfer this money (**before tax**) to my personal home loan of $300000 (LOC) without having to declare the income on my private …
Taxation, particularly Capital Gains Tax, on a rental property in the USA
Question I have a number of questions regarding the possible purchase of a rental property in Hawai’i. We are citizens and residents of Australia for taxation purposes. If it matters, we are also dual citizens of Canada. I am not sure how many related questions I am entitled to ask here, so I will firstly …
