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  1. Terry_w

    Buyer wants to cancel contract..can they?

    And many others. estoppel
  2. Terry_w

    Buyer wants to cancel contract..can they?

    Legally yes, but not under the laws of equity.
  3. Terry_w

    wrong stamp duty charged

    Here is the relevant legislation for VIC s 24 Duties Act http://www5.austlii.edu.au/au/legis/vic/consol_act/da200093/s24.html
  4. Terry_w

    wrong stamp duty charged

    Because of the law - separate transactions are aggregated in situations where it is part of one arrangement and contracts are entered into within 12 months. You could buy 12 Smith street now and 13 Smith Street in 11 months and they could be aggregated so you are charge stamp duty on the...
  5. Terry_w

    Caveats and Tips on buying OTP in Brisbane with SMSF ?

    I think ANZ have never lent for SMSFs but you are right. Today I received an email from a smaller lender, The Rock, saying they would no longer be offering SMSF loans. NAB recently stopped lending too for SMSF/
  6. Terry_w

    Buyer wants to cancel contract..can they?

    Exactly. Finance clauses are not open ended (usually) so if the finance was approved before a certain date the purchase may be in an unconditional binding contract.
  7. Terry_w

    Asset Protection in terms of divorce

    Every case is different and you won't know the details behind the case unless you read the judgment. But down at the pub afterwards the bloke will be complaining how unfair it is - she only came with a hand bag but left with a house!. But you have to look behind the pub chatter into the way the...
  8. Terry_w

    Asset Protection in terms of divorce

    Plenty of things can be done. for starters read s79 Then make sure your spouse contributes absolutly nothing towards the property. no money, no non financial contribution at all. Make sure you have separate bank accounts and show your money being used to pay for all expenses. Never take the...
  9. Terry_w

    Asset Protection in terms of divorce

    Why would you want to do that?
  10. Terry_w

    wrong stamp duty charged

    No, you should talk to your solicitor about 'aggregation of stamp duty'. That is correct that you were charged on the combined value rather than 2 individual transactions.
  11. Terry_w

    Asset Protection in terms of divorce

    What weak law are you talking about? see s79 of the family law act for what the court considers when making a property settlement. Contributions of the parties!
  12. Terry_w

    Caveats and Tips on buying OTP in Brisbane with SMSF ?

    Don't even consider it.
  13. Terry_w

    What consitutes legal advice?

    Taxation aspects perhaps. But questions such as 'who should be appointor', 'whose name should I buy this property in' are dangerous for the accountant as their answers could be legal advice.
  14. Terry_w

    What consitutes legal advice?

    And the advice is usually incorrect too:D Or not useful or complete "buy that in a trust for protection"
  15. Terry_w

    What consitutes legal advice?

    None of the above would be legal advice. Buying shares is financial advice and would need an AFSL or authorised rep status. The loan stuff is credit advice and would need a credit licence.
  16. Terry_w

    Caveats and Tips on buying OTP in Brisbane with SMSF ?

    a drop in value before settlement will mean the fund has to come up with more cash as the loan will be less.
  17. Terry_w

    Caveats and Tips on buying OTP in Brisbane with SMSF ?

    What if the fund cannot get finance? What if the laws change regarding limited recourse borrowing? Have you sought legal advice on what name should go on the contract, drafting of the custodian trust deed, how to avoid triple stamp duty? Is a personal guarantee required by the vendor...
  18. Terry_w

    Alternative financing strategies

    That would only make it harder to qualify for bank financing.
  19. Terry_w

    Can I claim the selling related cost even if I can't sell

    These sorts of costs don't relate to income so are not claimable under income expenses. Also don't relate to the sale as it didn't happen. Don't form part of the items which could be used to reduce the cost base. Whats the deal with the building report? Could perhaps tie that in to income...
  20. Terry_w

    Interest prepayments with Macbank and AMP, too late?

    Sit tight until it affects you and then investigate further. Either way the tightening up would affect you whether these are investment loans or personal
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