CGT
Stamp duty
Different for Home and investment
For a 1mil place, $30,850 and $38,025 respectively
first home concession only applies to $800,000 properties and below
If there is an extant lease they cannot be renewed and must be kicked out prior 6 months post settlement
Stamp duty is based on the number found on the contract. If further negotiations occur and you get a better deal, that won’t show up in the contract unless you make a request to modify the contract.
grants and discounts
first home buyer?
rent vs home vs sub let
superannuation
depreciation
Only when renting
You don’t get that of the property (though of the contents you do)
If you build something (add value) then afterwards rent it out you still get to depreciate. Just not the portion of time between building and renting
negative gearing
For repairs (not adding value) you get the repair costs as a tax offset immediately
Can only negative gear the interest of a loan
Insurances (I’d imagine)
Do you own the land you buy an apartment on?
No, you are part of the body corporate
There exists freehold townhouses and certain townhouses built prior 1997 where you own the land
Land tax
Make sure the previous owner paid it otherwise the ATO will come after you!
Lawyer should be handling this
Council rates
For Brisbane and Moreton bay
For Narrogin it’s based on potential rental income
Leaving Australia
Leaving the state