Category: Property
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To trust or not to trust – the benefits of a discretionary (family) trust – final comparison
I have discussed the benefits of a discretionary trust aka family trust for minimising capital gains tax (CGT). I have also discussed the benefits of a discretionary trust from minimising taxable income. For this last part I am going to compare a discretionary trust against a direct 50-50 split over an average person’s lifespan. Again…
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Correspondence with Property Manager LJ Hooker Belmont WA – Property Inspection
It has been a while since posted about my rental property and management by Property Manager LJ Hooker Belmont WA, mainly because I became complacent with the service which seemed to work. Recently I received my quarterly routine inspection report which I thought was worthy of sharing. “the home was presented in an average condition…
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To trust or not to trust – the benefits of a discretionary (family) trust for minimising income tax
A few weeks ago I blogged about the insignificant benefits of a discretionary (or family) trust compared with a basic 50-50 joint split when it came to Capital Gains Tax (CGT), this week I will compare the two when it comes to rental income. Rental income is different to CGT in that rental income is…
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To trust or not to trust – the benefits of a discretionary (family) trust for minimising CGT
Discretionary or family trust is a trust where the income generated in the trust can be distributed to the beneficiaries at the discretion of the trustee, or simply the income can be divided up however one pleases. It is commonly known that a discretionary trust can be used as a form of tax minimisation, but…
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Triplex Development – Contour Survey
One of the first things you should arrange prior to designing the buildings on the block is a contour survey of the land, a contour survey provides information on the elevation of the land and also situations of sewerage, water and power connections as well as positions of existing fences and trees. Generally, a builder…
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Triplex Development – Zoning, updated
In my last post I introduced zoning and how to calculate the allowed housing density depending on the R codes. Well, that didn’t provide the whole picture, the minimum land is a little less than 10,000 divided by the R code I am located in Western Australia where the planning of land use is governed…
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Triplex Development – Zoning
In the last post I introduced my planned triplex development, I skipped over something, why specifically a triplex development? This comes down to zoning, zoning is one part of the general council’s land use Planning Scheme, in simple terms, zoning determines the minimum land size a dwelling must reside on. My land is zoned R20/R40,…
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Triplex Development – Introduction
A few years ago together with the misses, we bought an old house sitting on a decent parcel of land, enough to build three houses when the time came. You can further read about the purchase on our joint blog. Well the time has now come to start developing, as a first time developer and…
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Correspondence with Property Manager LJ Hooker Belmont WA – Tenant in Rent Arrears
On 1st October LJ Hooker Belmont WA informs we that the tenant had not paid rent for 2 weeks, “the tenant has only paid to the 16/09 and has been breached and I spoke to him and he is coming in on Tuesday and Wednesday to pay the backlog.” I asked about when a Breach…
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Correspondence with Property Manager LJ Hooker Belmont WA – The Hidden Charges
I received an email from the L J Hooker Belmont WA Principal / Licensee when I enquired about the monthly Postage and Petties Fees, here is a list of all the items you are charged separately for (not included in the property management fee); Phone calls to yourself and your tenant and to arrange tradesmen…