Nilo Posted March 4, 2008 Report Share Posted March 4, 2008 Lynn,You lucky fish!!! Well done!!Now that we're on the subject ......... Devide that $750 000 and buy 3 houses and get tiny loans on each. Or in 6 and get bigger loans so that you can "negatively gear" the properties and make even MORE money!!What a great start you'll have!!See ya in BrissieN Quote Link to comment Share on other sites More sharing options...
Firstworld_girl Posted March 4, 2008 Report Share Posted March 4, 2008 Lynn,You lucky fish!!! Well done!!Now that we're on the subject ......... Devide that $750 000 and buy 3 houses and get tiny loans on each. Or in 6 and get bigger loans so that you can "negatively gear" the properties and make even MORE money!!What a great start you'll have!!See ya in BrissieNHello Nilo,Do property owners get penalised the more properties they own ? (taxed heavier and heavier rates or stamp duty on each successive property they own)? or is that legislation still in the pipeline ?It's bound to happen to discourage the monopoly of ownership by a few over the many,not so?Thanks,CTTN Quote Link to comment Share on other sites More sharing options...
Firstworld_girl Posted March 4, 2008 Report Share Posted March 4, 2008 My husband is a civil engineer and we enjoy buying houses and renovating and then selling or renting. So we will be having a great deal of fun in Aus going about our business of renovating (we have to do everything ourselves) and selling / renting./quote]Hi Lyn,I was just thinking - renovating in SA is a breeze,and cheap,and fun as you and hubby probably already know.Here in SA the municipal building inspectors are mostly interested in your outside boundary building lines and a lekker brandy & coke with the owner on a friday after work - what happens inside the house is too much effort to legislate fully let alone enforce.They just sign when the foundation gets laid and then again after the roof is on.What happens inbetween is often the wild west - and a very profitable wild west at that. I think Oz will be a totally different kettle of fish.demolition permit,construction plans in quintuplicate,inspector for this,inspector for that,plumbing certificate,electrical certificate,structural certificate,roofing certificate,fireplace certificate,only registered artisans allowed to ply their trades etc etc bla bla ad nauseum.So there goes your profit into the pockets of 20 other stakeholders.Nothing like red tape to douse the entrepreneurial fire hey!Regards,CTTN Quote Link to comment Share on other sites More sharing options...
Nilo Posted March 4, 2008 Report Share Posted March 4, 2008 Hello Nilo,Do property owners get penalised the more properties they own ? (taxed heavier and heavier rates or stamp duty on each successive property they own)? or is that legislation still in the pipeline ?It's bound to happen to discourage the monopoly of ownership by a few over the many,not so?Thanks,CTTNThe government in AUs actually want people to invest in property and thus there are huge bennefits to being a property investor. (If you do it right that is) I will definitely insist on anyone wanting to invest in property to go and see a financial advisor and or tax consultant. THey know the rules etc and will give you invaluable advise on how to do it the most cost effective way, with regards to tax etc. Also, you will only be taxed higher if you earn more, (but thats normal) and you will also be taxed more if you sell a property within a year of buying it. I think I'm right in saying that, not to sure. Thats why I say see the right people that will be able to give you the right advise. It might cost you but it will save you lotsa $$$!!Australia works a lot different from SAfrica you will see what I mean when you settle. Whole new ball game all together!! Lots of new stuff to learn!!So let go of the past and get to know the future!! It's a little bit unnerving in the begining, so be warned. Quote Link to comment Share on other sites More sharing options...
Bob Posted March 4, 2008 Report Share Posted March 4, 2008 My husband is a civil engineer and we enjoy buying houses and renovating and then selling or renting. So we will be having a great deal of fun in Aus going about our business of renovating (we have to do everything ourselves) and selling / renting./quote]Hi Lyn,I was just thinking - renovating in SA is a breeze,and cheap,and fun as you and hubby probably already know.Here in SA the municipal building inspectors are mostly interested in your outside boundary building lines and a lekker brandy & coke with the owner on a friday after work - what happens inside the house is too much effort to legislate fully let alone enforce.They just sign when the foundation gets laid and then again after the roof is on.What happens inbetween is often the wild west - and a very profitable wild west at that. I think Oz will be a totally different kettle of fish.demolition permit,construction plans in quintuplicate,inspector for this,inspector for that,plumbing certificate,electrical certificate,structural certificate,roofing certificate,fireplace certificate,only registered artisans allowed to ply their trades etc etc bla bla ad nauseum.So there goes your profit into the pockets of 20 other stakeholders.Nothing like red tape to douse the entrepreneurial fire hey!Regards,CTTNYou're dead right, there!It used to be a dream to build a house yourself.I built a place in Tasmania back in the 80s. Being a draughtsman in one of my past lives, I drew up my own plans, paid the $200 to the local council and submitted the plans. I was told by a mate that he's seen someone draw up house plans on little better than toilet paper!I built the place all myself with the building inspector dropping by once in a while to check up on what's happening and sometimes giving me tips cos' I'd never even built a shed before, let alone a 3 bedroomed house.In the 90s, life got tougher.It was in South Australia that I built my present house. I framed up with a mate, stuck the roof on and got a couple of brickies (bricklayers) to lay the mud bricks for me. The electical and plumbing / sewerage work were done by tradesmen too.Everything else was done by yours truly. The local building inspector was fussy, needed properly drawn up plans, checked the footings (foundations), the framing, the bathroom, the final product before signing the place off.I was slow. I was told I wouldn't be able to build another place all myself like the present house cos the building regulations had changed in the meantime with the need for tradesmen to have a lot more "input" in the construction of the place.Tradesmen now charge $50 an hour!When you are employing tradesmen on the job, there is loads of red tape involved . . . . the provision of toilets for them, the occupational health & safety features of the site, etc. etc.Lynn . . . . if you're doing up old places, or building anew, it can be fun, but not nearly as much fun and as rewarding as in the "good ol' days"Good luck! Quote Link to comment Share on other sites More sharing options...
colton Posted March 4, 2008 Report Share Posted March 4, 2008 HiYup LOTS more red tape here. We put up an awning and after waiting MONTHS for the plans to be approved, when they finally started erecting it they had to first dig the holes for the poles and then WAIT for the inspector to come and check the holes. Now I am talking about a simple awning nothing fancy and they needed to have someone check the depth and width of the holes before they were allowed to continue, added another two days to the waiting period. Oh well when in Rome............ Quote Link to comment Share on other sites More sharing options...
CapeTownToolNut Posted March 5, 2008 Report Share Posted March 5, 2008 HiYup LOTS more red tape here. We put up an awning and after waiting MONTHS for the plans to be approved, when they finally started erecting it they had to first dig the holes for the poles and then WAIT for the inspector to come and check the holes. Now I am talking about a simple awning nothing fancy and they needed to have someone check the depth and width of the holes before they were allowed to continue, added another two days to the waiting period. Oh well when in Rome............Hypothetically,if your neighbours are great and are'nt the types to kiss and tell,what would have happened if you had not applied for an awning plan,just dug the holes yourself and thrown the concrete and erected the awning in 1 saturday afternoon,on the quiet,without telling anyone and had a lekker cold beer afterwards while admiring your handiwork and your savings too?Surely no one wold be the wiser? Quote Link to comment Share on other sites More sharing options...
Nilo Posted March 5, 2008 Report Share Posted March 5, 2008 Capetowntoolnut!!! O jong!! You've got a lot to learn!!!If you do this and something happens, like something BAD your insurance will not cover it, and here they find out!! Nothing can be done skelm!!It's like a brand new life over here!! A very good new life at that! Quote Link to comment Share on other sites More sharing options...
colton Posted March 6, 2008 Report Share Posted March 6, 2008 They would definitely find out! They could then make you tear it down at your cost. It would also be a problem when you decided to sell because all those things are checked out by the new buyer. Here people abide by the rules and do things the legal way, fortunately or unfortunately. Quote Link to comment Share on other sites More sharing options...
JanCPT Posted March 10, 2008 Report Share Posted March 10, 2008 You guys were having so much fun answering my post that I did not have the heart to tell you that we were going to pay cash for the house of AUD 750 000!!!!! So, tell me Lynn - AU$750k X 8 = ZAR6M + costs & further cash to start up a business = ±ZAR 10 - 12MWith the exchange control in SA only allowing you to take ZAR4M when you emmigrate ...How do you plan on doing it .......Kidding, don't want to know. Especially on an open forum.Keep those loopholes open!!CheersJan Quote Link to comment Share on other sites More sharing options...
Bob Posted March 10, 2008 Report Share Posted March 10, 2008 I'd have no worries about sticking an awning up in South Australia . . . . or a carport.The one thing you've got bear in mind is that there will be no insurance cover for that bit of property, so if a house fire for instance, went thro your place burning it to the ground, the insurance would only cover what they can see on the plans with the local district (or shire) council.My son wants to put up a work shed on my place to fix up other peoples' cars that he gets to do. I could let him just put a big shed up, complete with 3 metre high hoist for raising the cars up to eye level, but if the old dragon in the next property took offence at the sight of it, complaining about it to the local district council, they would be obliged to act on that complaint and send someone round, eventually asking me to take it down, possibly paying a fine also.So . . . it pays to have "good" neighbours that are easy going and don't mind you putting a new carport up or verandah on the back of your house, etc. if you are going to do it yourself.Also, it pays to know what you're doing, build it to specifications and make it LOOK like a tradesman has done the job. . . . then everyone will assume that everything has been done properly, i.e. plans submitted, tradesmen done the project, right sized timbers and nails used, etc.Have fun! Quote Link to comment Share on other sites More sharing options...
Lynn Posted April 10, 2008 Author Report Share Posted April 10, 2008 My husband is a civil engineer and we enjoy buying houses and renovating and then selling or renting. So we will be having a great deal of fun in Aus going about our business of renovating (we have to do everything ourselves) and selling / renting./quote]Hi Lyn,I was just thinking - renovating in SA is a breeze,and cheap,and fun as you and hubby probably already know.Here in SA the municipal building inspectors are mostly interested in your outside boundary building lines and a lekker brandy & coke with the owner on a friday after work - what happens inside the house is too much effort to legislate fully let alone enforce.They just sign when the foundation gets laid and then again after the roof is on.What happens inbetween is often the wild west - and a very profitable wild west at that. I think Oz will be a totally different kettle of fish.demolition permit,construction plans in quintuplicate,inspector for this,inspector for that,plumbing certificate,electrical certificate,structural certificate,roofing certificate,fireplace certificate,only registered artisans allowed to ply their trades etc etc bla bla ad nauseum.So there goes your profit into the pockets of 20 other stakeholders.Nothing like red tape to douse the entrepreneurial fire hey!Hi CTTN - only read this now - man, you burst my bubble!!!!!!! k.rgds LynnRegards,CTTN Quote Link to comment Share on other sites More sharing options...
Lynn Posted April 10, 2008 Author Report Share Posted April 10, 2008 So, tell me Lynn - AU$750k X 8 = ZAR6M + costs & further cash to start up a business = ±ZAR 10 - 12MWith the exchange control in SA only allowing you to take ZAR4M when you emmigrate ...How do you plan on doing it .......Kidding, don't want to know. Especially on an open forum.Keep those loopholes open!!CheersJanJan, you secretly do want to know. I know your kind!!!!!! We will not be emigrating! Think about it! k.rgdsLynn Quote Link to comment Share on other sites More sharing options...
Biltongboer Posted April 21, 2008 Report Share Posted April 21, 2008 Is the tax paid on top of the amount with super included, or do you pay tax on the amount excluding super? Quote Link to comment Share on other sites More sharing options...
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