TERMS AND CONDITIONS - Go Go Conveyancing

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Set out below are matters that are included our Standard conveyance

Professional fees for standard conveyance (about 8 hours professional time) $895

Reading Contract (100 pages or less), reviewing it and providing advice on it

Basic amendments to the front page of the Contract and Special Conditions, such as:

Name corrections
Inclusions or exclusions noted
Land tax inserted or deleted, and
Default interest changed

Cooling off pursuant to section 66W:

Explain process
Sign cooling off certificate, and
Serve certificate for exchange

Searches obtained and advised upon:

Title for sale or purchase
149(2) for sale
66 water rates for purchase
603 council rates for purchase
47 land tax certificate for purchase
Encumbrance (x1) sale or purchase
109 certificate for strata for sale

Attend to exchange of contracts if required

Attend OSR, usually before settlement, to stamp:

Contract, and
Transfer

Investigate any matter that is required to enable settlement to take place

Settlement organised with:

You
Your bank
Their solicitor, and
The agent

Post Settlement transactions performed:

You are notified
Agent notified
Adjustments paid
118 noticed served (strata only)
Deposit released, and
Written report sent to you

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Go go conveyancing shared Advanced Finance Solutions's post.

3 weeks ago

We just came across a great post from Anita at Advanced Finance Solutions and thought we would share.Some interesting reading for the investors out there!

Depreciation and off-the-plan properties.
Investors who are looking to purchase a new property often look at buying off-the plan.
Buying off-the-plan essentially means you are entering into a contract to purchase a property prior to, or during the construction phase of a property or a development.
One big benefit of purchasing off-the-plan that investors often fail to consider is the property depreciation benefits available.
There are significant depreciation deductions available to the owner of a property purchased off-the-plan. It is important to note however that the property must be completed and be generating an income to claim depreciation deductions.
A completed property purchased off-the-plan will typically attract between $8,000 and $14,000 in depreciation deductions in the first full financial year, so it is fair to say that the new owner can make significant savings and increase their available cash flow by claiming depreciation for the property once it is income producing.
Newly built properties constructed off-the-plan will contain new fixtures and fittings*. Therefore the depreciable value of these items will be higher. The owners are also eligible to claim the maximum capital works deductions for the building structure, which means more deductions are available to claim over the life of the property (forty years).
When it comes to the fixtures and fittings in an off-the-plan property, investors should be aware that not all assets are created equal. In most cases, those assets with a higher starting cost will generate higher depreciation deductions.
For this reason, investors may want to consider the brand and price range of assets in an off-the-plan property.
Focusing on a kitchen in an off-the-plan property, the below table illustrates how the depreciation deductions available will vary depending on the model or price range.

As you can see in the below photo, those assets with a higher starting cost generate higher deductions than those with a lower base cost, both in the first full financial year and over the first five years combined.
As one example, a high range oven costing $5,150 will receive $858.51 in first year deductions and $3,080.74 in the first five years, while a low range oven purchased for $1,425 will get $237.55 in first year deductions and $1,183.42 over the first five years. This is a difference of $1,897.32 in the first five years.
If this is the difference an investor can see from just one asset, it’s understandable why they would want to give due thought to all the plant and equipment assets installed, as they add up to substantial depreciation differences.
Please note that the low-range microwave oven purchased for $220 would receive a 100 per cent write-off in the first year. ... See MoreSee Less

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