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and then yesterday the rusty, noisy old box in the corner of the kitchen decided to blow up ... no choice but to buy a new fridge there an then. damn - i was only wanting it to hang in there for another 3 months! :o

this is the interesting part - i am slowly learning and am surprised how often they change the tax rules, without anyone outside of government ever realising until something hits the fan - and always to their extreme advantage. this land tax is a great example. i fully expected to pay out...

well, it could always get worse ... i heard yesterday of a guy who (on the advice of his accountant) borrowed heavily against his ppor to buy shares - the bank is foreclosed yesterday.

no - the stuff up was that they failed to notice we were a trust, and trusts don't get a threshold, so we copped 5 years of threshold land tax in one hit when they realised their mistake instead of spread over 5 years. not good for cashflow unfortunately you will find that there is no...

yep - because i need one of the four properties in the company released i have to pay off the debt owing on all four. another trap for the unwary - which is why i posted here. the lady at osr said that even many accountants/conveyancers don't know about this ruling.

so true - think i might go cut some onions now ...

i wanted to post this in the general discussion, because thought it might get lost in the tax/accountanting section - and i wanted as many people as possible to learn from this lesson. a warning about selling property out of a trust/company ... we've sold our elephant (cooling off ended...