Family Law Property Settlement

Question My wife and I bought property 1 as a family residence in joint names in 1988 price $105000.The property was transferred into her name for rental/ negative gearing purposes in 1992 and we then bought property 2 as a family residence in her name.We separated 8/07 and divorced 3/09.I have lived in property 1 …

GST

Question I am currently purchasing an ex local council property ( which was formerly a local infant welfare centre)in partnership with another couple. The property was sold with GST written into the sales contract. The settlement is mid April. We are buying in the name of trusts as tenants in common.My question is how to …

tax

Question i am a merchandiser, paid on invoice @ agreed rate. i quote an abn. should the companies i work for pay me super, or can i claim a deduction if i pay into my own super. i am 53thanksjulie Answer Subsection 12(3) of the SGAA provides that if a person works under a contract …

deposit to secure a contract for an investment property

Question What are the tax implications of using redraw monies from a principle place of residence loan to secure an investment property as a contract deposit and then using the proceeds from the investment property loan to reimburse the principle place of residence loan?I remember reading a caution emphasising the need to keep both loans …

gst

Question My son recently purchased an old house that is on land zoned for units. We plan to form a JV or partnership, demolish the old house and build 6 units. My son is overseas at present and has been for a few years. He is not registered for gst but I am. I will …

Capitalizing interest/debt recycling

Question Is it legal to debt recycle in order to pay off a PPOR? I have several IP’s (+ geared)with small mortgages. Can I direct their rental income into my PPOR mortgage (which is quite large) and at the same time capitalise the interest on the loans of the IP’s? The object of course being …

Does second property automatically become new Prinicipal Place of Residence at contract date on sale of first property?

Question We owned a property in NSW from 1/5/2000 which we lived in for 2 years. We then moved around with work and rented various properties in NSW and QLD. The original property was never rented out and was intended to be our ‘main residence for capital gains tax exemption’.We then bought another property in …

Resident Versus Non Resident

Question Hi there. We are a couple living in Saudi Arabia. I am an Australian Citizen but a non resident for taxation purposes. My wife is also an Australian citizen but a resident for taxation purposes. We are about to invest in some funds as suggested by Whittaker McNaught. These funds are 50% Australian Equities, …


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