As you are no doubt aware the end of the Financial Year is upon us, time to lodge our tax returns and all that exciting stuff. For those of you that have purchased property close to the end of the financial year, you may want to note that Land Tax (if applicable) is calculated from settlement date, likewise so is Stamp Duty; Capital Gains Tax is calculated from Contract Date. For investors, make sure you get professional advice from your accountant about depreciation benefits etc.
Agent Mark McGill’s auction on the weekend, 88 Palm Drive, Mooloolaba turned out to have a happy ending for all involved, selling under the hammer to a Tasmanian buyer that fellow Agent Rex Larkins has been corresponding with for seven years.
With a crowd of around 50 people, 12 registered bidders and 4 active bidders, the property sold for $400,000 to Rex’s buyers, a real estate sales agent and her partner a handyman, who are looking forward to relocating to the warmer climes of Sunshine Coast. The seller is thrilled to have the security of a cash contract and can now move on after having lived in the house for 25 years…she is delighted to see it bought by a new owner who will love living there as much as she has.
For those on school holidays…enjoy!