I only meant that because a commercial/industrial investor like yourself may say that the above poll is unfair because of the cost of a property - ie: 1 commercial property you bought might have been worth $1million & you might have bought 2 of these in the past 2 years; whereas someone else...
(Note: The poll above refers to the majority of investors, as most I assume buy or build houses or units - FOR COMMERCIAL/INDUSTRIAL, ETC INVESTORS THIS POLL APPLIES TO YOU AS WELL - P.S. A block of 6 units for example means 6 IPs for this poll)
The reasoning behind this question is a couple...
Looking into this at the moment however with my income being Salary & Commissions it's difficult for my employer to deduct the correct amount of tax each month as the commissions vary from month to month - sometimes it's a lot, sometimes nothing. Probably the tax variation is excellent for those...
If Market Rent was $300pw & he paid $300pw & you gave him a $50 cash rebate each week, how's the ATO going to find out. You signed a lease with him at market rent at $300 per week. End of story I would think. No one from the ATO on this forum I hope!!! :D :D
So using this method through the ATO:
Purchase Price: $100,000.00 (assuming no deposit is paid)
Sale Price: $150,000
Stamp Duty: $2,972.60
Solicitor's Fee (Purchase): $800.00
Solicitor's Fee (Sale): $500.00
Agent's Commission (incl. GST): $4,620.00
Total Cost Base: $108,892.60...
Say for example you buy a block of land. Pay $100,000 for it - worth $150,000 when you settle. You sell straight after settlement. You pay 30% tax on PAYE. How do you calculate net profit with capital gains tax? :)
Many thanks Duncan. I now have to Internet back. I did a system restore which restored my computer back to 3 days ago & then installed both Firefox & Thunderbird - Wow! What a difference! My Dad's got Firefox on his Apple Mac & likes it! Cheers! :)
If I change to Firefox or Safari, I'll have to add all my favourite links to websites again right? Also changing to Firefox doesn't alter Microsoft Outlook - I can still use this to access my emails??
Just installed Internet Explorer 7 (the latest one) via the top of ninemsn.com.au website yesterday; restarted & everything on my internet went REALLLLLLLLLLLYYYYYYYYYYYYYYYYYY SLLLLLLLOOOOOWWWWW!!! Load a webpage & it takes 30 minutes & still doesn't load. Tried to uninstall IE 7 & did; but now...