Recent content by somersoftfan

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    Another Captial GainsTax question

    I searched the forum but couldn?t find similar question asked anywhere. I have exchanged contract for a land purchase in Oct 2014. Land settles in July 2015. If I sell the land in Nov 2015, my understanding is that I have to pay capital gains tax for 50% of the profit made? But what is...
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    EHC for Complying development

    Anybody used electronic housing code for complying developemnt? https://www.onegov.nsw.gov.au/new/agencies/ehc I am thinking to use it for my next project. Any feedback is appreciated.
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    Is it possible do anything better here?

    Give a call to OSR and ATO to find out the stamp duty, CGT and GST related to partition. My understanding is that it won?t be substantial for a strata subdivision
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    Architect recommendation at Campbelltown please

    Recently purchased a lot in the recent landcom release at Macarthur Heights. I am looking for architect to do feasibility and design of a duplex.
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    Is it better not to file tax now?

    Thanks Rolf. What if I do a pre-approval in Dec, would this pre-approval be valid for further 6 months?
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    Is it better not to file tax now?

    I am self-employed and I know my income for 2014 will be slightly less than 2013. Would it be better for me not to file tax returns until Jan/Feb next year so that I don?t have to show my 2014 income. Lenders have any cut of dates from which they would ask for 2014 tax returns?
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    Pros and Cons of constructing a house using a management company

    She would project manage day to day activities of construction as an employee of the company. Builder will provide structural warranty etc and certify construction.
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    Pros and Cons of constructing a house using a management company

    One of the quick thoughts that I have in mind is to reimburse $18,200 as salary for my non-working spouse. Thus banking future capital gain into tax free salary.
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    Pros and Cons of constructing a house using a management company

    This is a hypothetical question to the experts. If I buy a new land in my name and I or my spouse build a house using my/spouse?s management company, can the company claim GST credits and charge wages etc. The company would be borrowing services of a builder and various services to construct...
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    Owner builder ? Build and sell

    My spouse is currently unemployed. So I am thinking to buy a new land in her name released by landcom, build a house and sell as soon as possible. Please advise what is the best set up to buy and build. Please note Landcom only allows to buy land in individual names. So setting up trust etc...
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    Due diligence for commercial realestate

    We are thinking of negative gear the old house with minimal renovation until we get DAs.
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    Due diligence for commercial realestate

    Zoning for this property has recently changed to emerging zone. Land is now more suitable for commercial development taking into consideration of adjoining developments.
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    Due diligence for commercial realestate

    I am in the process purchasing a commercial property suitable for building units in Brisbane. Currently there is an old house in the property which is not tenanted for over an year. Being classified as a commercial property, should I need to do any extra due diligence apart from the normal...
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    Buying in an auction

    This should have been covered earlier but I couldn't find a good link by searching the forum. 1) If you are buying in an auction should we set up Trust before going to the auction or can the name be changed after the auction? 2) If you are bidding over phone, how do you normally make the...
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    Our first IP

    Can all expenses other than interest be taken out from LOC? Or just the ones that are capital in nature
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