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I'm no expert, but I reckon you would be able to! I know you can depreciate PC's, so surely the same principle would apply, if it was used for an income producing purpose? Of course I stand ready to be corrected...

I got the details from my solicitors today. The document was entitled "Transfer". The document has the parties involved and notes "the transferor acknowledges recepit of the consideration of $1,000.00 and as regards the land specified above transfers to the transferee an estate in fee simple"...

It was a "transfer" - I'm fairly certain that was the legal term the solicitors used - for a nominal fee of $10K. I just found a fax from my solicitos dated 18 February 2004 and attaching the valuation of the same date, putting it at $190K. I've been offered $295K with some extended...

Thanks for the response! Wasn't aware that CGT started from value? The land value from my memory (I will check tonight) was $195K at the time I acquired it). Are you certain that's the starting point?

PS: I've never earned a cent of income off this block of land, I might add, despite having owned it for 4 years, but my friend assures me this matters not at all, when it comes to capital gains, etc.

OK, just thought I'd see if anyone has any advice forthcoming. I have a block of land, gifted to me by my parents. I paid a nominal $10K a while ago to assist as collateral for my first PPOR. At the time I intended to build on it, but I've had an offer on it, at a time that we are...

OK. Here's a PPOR scenario for a family member I wanted some advice on. Property 1 sold. Exchanged. Settlement is set for 26/11/06. Property 2 pursued, price agreed after vigorous negotiation, settlement of 1 mth agreed (vendors request as it seems he is hurting from the interest rate...

I know it's an old tired issue, but is there anyone out there that can confirm: 1. What the land tax threshold was originally with the Carr government? 2. When it was changed to a $0 threshold and for how long? 3. When the Iemma government changed it back and what the current threshold is...

:eek: I am curious about what people thought of what I saw on the news last night. One mob (I think it was BIS Shrapnel ), are predicting 0.5point increases in consecutive quarters next year resulting in an interest rate of 9% by the end of 2006. They're basing this on upward pressure...

My first instinct was to say "I wish my parents had pointed me in the right direction like this", but to be honest, they probably did. You're lucky that your sons are smart enough to come to you for help and to listen. A good story (and it has the requisite happy ending)!!

We get that. The "which bank" thing is a joke. An older person's joke, probably. The point that is relevant is that you said it was a well known firm. The major firms have a fair bit of feedback about them here - did you check out this firm via threads and feedbacks here (before or after you...

Thank goodness!! I'm a GST freak and thought for a minute there I was up for more moolah!!

Aceyducey is of course right. The deal should be something they need that you don't mind giving up. We were the lowest bidder on my PPOR, but got it for a bargain because we were prepared to let the vendor live in the property for 6 months and rent back to us while they built their house. We...

Oh boy!! One of my pet topics (check my posts and you'll see that for yourself)! I'm guessing you're not going to tell us "which bank", but do tell us how things have progressed since your last post. Did they come to the party? Have you found any other solution? I wonder why they...

What a great thread, and you just have to look at properties anywhere to find examples of these!! I found the following on Domain: "Located within walking distance to schools, shops and hospital". Not sure if anyone has covered this (it's a long thread) but along with stone's throw, how far...

So when's the next pub crawl?

Is there a place where people here physically meet (looks about secretively)? If so, is it a secret handshake kinda deal (the stone masons strike again), or is there a social party thread I've missed out on :(

Nope, not until now, but as I do whenever I get the chance, I looked up my South West Rocks block which I currently have listed for sale and hey presto, this place did not even have the suburb "South West Rocks" in their suburb list. Anecdotal of course, but they immediately got the big...

On ya madmurf! Say it how you see it!! For me, I read a lot for a long time before posting, but must admit I've found most everyone very helpful and not too condescending since I started posting. There are some here with very sound advice in a lot of areas. There are also some very clever...

Blossomoz, I went to this url but it said "Site Currently Under Construction". Wasn't sure if that was a pun or not? :confused: