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Ok got it thanks guys

Sorry if this is a silly question but can a company claim negative gearing? If so if you have 2 directors - can you distribute the income/loss or does a trust entity have to do this?

We didn't pay GST. I just found the old contract and it states "GST-Free because the sale is the supply of a going concern under section 38-325.

I don't quite understand the "Are you registered or required to be registered for GST? " part? What does this mean?

So I purchased the property after July 2000 and I am building 3 townhouses. There is currently a warehouse on the block that I am renting out to a business. The plan is to now knock down and build the townhouses. Does this mean that GST is payable on the profit of say $300,000?

omg thank you!!!!

yes you are right - I misread it. Then the question is - is the GST payable on the sale price of $1,500,000 or the profit of $300,000.

That's but I think im more confused after reading that. Reading the first section - I was under the impression that GST is payable on the sale price, e.g. if the sale price is $500,000 then I would need to fort out $50,000 in GST for each dwelling which kills basically all/most of the...

Ok so say the land, da and construction costs equate to $1,000,000 and I sell each unit for $500,000. How much will the CGT be? How much will the GST be? As a company - do you pay 30% tax on the CGT (in this case $500,000)? Does the 12 month CGT rule apply to companies?

So we have got DA (yay) to build 3 townhouses on one of our IPs. The property was purchased under our company name. Once we have built the townhouses - what are the relevant taxes that we need to pay? i.e. land tax, CGT, GST? We plan to hold the properties for at least a year before...

They don't have anything on their website (or anything that I could see). Their duty planner also kept referring me to their website. I will try again and speak to another person from the council. Im finding it very hard to get an answer from them which is why I want to pay a little extra...

Has anyone built a granny flat in the ku ring gai council? Any ideas of the contribution fee?

Hi All, We want to build a granny flat on a property in Pymble, Sydney. Does anyone know the contribution fee involved? Also would we need to go via the council or can we go via a private certifier?

Im with skater on this - I treat my properties like a business and would never randomly consider giving tenants free rent.

Anyone know the answer?

Hi Guys, We are eyeing a battleaxe block in Sydney's west. Its about 1000sqm. We want to build a Granny Flat on it. Does anyone know if this is allowed (assuming all other conditions are met of course)?

We did separate meters too and pass on the cost to the tenants. It has worked well thus far.

Talk to Shahin from this forum - he is currently doing our loan (and my sister's loan) and is highly recommended.

Yep and I certainly will but just trying to understand how is compares with an area like Whalan which I am familiar with.

Thanks TE. I completely agree with what you are saying but how is it different to say areas in western sydney like whalan, etc? "Bad" areas but the yields are quite attractive (or they used to be anyway!)