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Question My wife and I are about to go through an (as yet) amicable separation. We have owned our current family home since late 2018; it is 99% in my name, 1% in my wife’s – done this way originally in case we ever chose to rent it out. We never have rented it or …
Question Hi Julia Given you wrote about this Bill in August, I assume you’ll be addressing it more in further detail, however we have a specific question about our situation. We own a small business (a service business trading as a Pty Ltd company) and we are wanting to purchase an electric vehicle. The car …
Question Hi, My question is in two parts, but relates to company car purchase, so have deemed this to be a simple question. I started a private company (GST registered, sole director, transferred from Sole Trader structure) in 2021 and am also continuing the sole trader business (has ABN) that was started in 2019. I …
Question I have a client who signed a contract to sell his farm (going concern) on the 16th of June 2022. The settlement didn’t take place until the 29th of July 2022. In the contract, the plant & equipment were allotted a ‘nominated’ price of $100k. In the contract, the livestock were allotted a price …
Question In 2014 February, me and my Mom bought a property for $579 000 (tenants in common 50% each) to live in (principal place of residence). I had moved to work overseas in 2009, and is still currently working overseas; the reason we bought in joint names is because My mom could not get bank …
Question Dear Ban Tacs, In 1993 I purchased my home in suburban Perth W A in my own name. The purchase price was $180,000, and since purchase it has been my primary residence. At purchase I estimate the land value to have been $100,000 and the house $80,000. The total land area is 760 sqm …
Question I am planning to buy an investment property – an apartment in Hobart. I am applying for a loan. The lender won’t lend me enough money (new loan for an investment property) to cover the cost of the apartment unless I use my current owner occupied property as security (my house in Lutana, Hobart). …
Question My father died recently and I am helping Mum to decide whether to wind up the family Trust. I am a beneficiary of the Trust and per her will would receive one-third of its assets when she dies. For simplicity, let’s assume I inherit it all. The Trust and its assets are in New …
Question In 2002 I bought a 3 bedroom house for my mother and father to live in. I paid $260,000, plus legals and stamp duty. Dad died 15 years ago and my mother still lives in the house. I have never charged them rent. Over the years I have paid for capital improvements costing roughly …
Question CGT on Rural Property I bought an 85 acre block of land in 2001 and lived in a shed on it until I built a house on it 5 years ago. It is my primary place of residence. I am 57 years of age and have a defacto partner. I have bought and sold …
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