Recent content by Gazz

  1. G

    Insurance on development units after sale

    I am about to complete a 3 unit survey strata development with practical completion of the units occurring in the next week. I engaged one of the larger residential building companies in Perth to build the units and they have taken out builders warranty insurance policies for each of the...
  2. G

    Tax deductibility of loaned capital loss

    Hi, I am looking at upgrading my PPOR and am considering selling an investment property to increase my borrowing capacity. I have an investment loan secured against the property (funds used to purchase the property) which i will repay with the sale proceeds. When I purchased the property I...
  3. G

    Opinions on requirement for insurance

    Yes, I have advised my the bank through which I have the mortgage about my plans to demolish and subdivide. I was surprised at their lack of interest in reviewing what I am doing. I was basically told that as long as the value of the subdivided blocks is more that the existing house/land I...
  4. G

    Opinions on requirement for insurance

    Hi all, I would like to get some opinions on the requirement for insurance for a development site. I own a rental property that is vacant and due to be demolished in a months time. Following that the block will be vacant for up to 6 months while I have headworks installed and apply for...
  5. G

    Demolishing Property Under Mortgage

    I have an investment property which I intend to develop by demolishing the existing house and building 3 new units on the site. The existing house/land is mortgaged to (by?) a bank. To minimise borrowing costs I will be demolishing the existing house, subdividing the land and obtaining...
  6. G

    Removing Spouse From Title

    I own an investment property in Victoria with my wife as tenants in common; 99% ownership in my name, 1% ownership in my wifes name. For finance reasons i am considering 'purchasing' my wifes share so that the property is 100% owned in my name. I was wondering how stamp duty and capital...
  7. G

    Development Feasibilty Fee Tax Deductible

    Thanks Aaron
  8. G

    Development Feasibilty Fee Tax Deductible

    Hi, I own an investment property (house and land - currently tenanted) and paid a fee to have a development feasibility undertaken to determine whether it is feasible to demolish the existing house and build three units on the site. Is anyone able to tell me whether the fee I paid is...
  9. G

    Method of Funding Stamp Duty Tax Deductable?

    I have purchased an investment property off the plan that is currently under construction. Payment for the property is due at completion of construction and I had been granted an extension to pay the stamp duty by the Office of State Revenue. I have applied (and received bank approval) for an...