Recent content by Longrass

Morning my Learned Friends, Quick Scenario of 2 Properties in my Family Trust: Single Dwelling Development (Dev1) July 2014 - Purchased Land December 2014 - Completed Dwelling January 2015 - Sold Capital Gain of $100K Multiple Dwelling (Duplex) Development (Dev2) July 2014 -...

Rent in this instance is around $50-$100 per week above market rate, so a small bonus

Why do you say that? When they are handed back, the builder repairs anything damanged, has the tiles polished and everywhere repainted. The way they structure them in Darwin is to build them "in" a new suburb, not as a standalone display village...

This could be of interest here possibly? In Darwin, suburb of Durack (in the new "The Heights Durack"). Private sale, 4 Bedroom, 2 Bathroom, Double Lockup Garage, Pool, Fencing, Etc. In the Display Village of the estate which will be used for 2 years, after this, will be private housing...

Yes, mind you they settled months ago, completely forgot about the add.

Please delete, property is now sold. $435K open market.

Please delete, property is now sold. $619K open market.

Correct, however if the 6th was held in ones own name and the builder charged $1 to build it, technically the capital gain would be offset as a PPOR? I understand your comments re money being stuck in the company.

Sorry, im lost, where does the 49/59% come into it? First I have heard of this...

Margin scheme GST, not to sure what costs you are relating to, however I do this fairly regularly and I believe $100k on a simple resi project is fairly good going...? Can you suggest what I may be missing?

In the case of a corporate beneficiary Terry? Potential idea being to utilise corporate tax rate to build the asset/income base and over time replace my current salary with a distribution from the trust, at such time also being able to access the CGT discount benefits when the long term paid off...

10% cash and 10% equity through on completion valuation. 80% or better LVR.

Could you elaborate on this please mate

Thanks Terry, When you say income tax, do you mean the company will pay income tax at 30% on the profits? I was unaware you could not claim the PPOR concession through a trust, I was under the impression that if it is your PPOR and you distribute all profits to the beneficiary you could...

I am thinking about some strategies for tax minimisation, etc... Scenario here: - I purchase 6 blocks of land (ABC Pty Ltd ATF Mr ABC Property Trust) for $250k each, total $1.5mil. - I contract a builder to build 6 houses for $350k each, total $2.1mil. - Combined cost (excluding costs...