What is a “personal use asset” when you calculate your capital gain/loss?
A personal use asset a defined asset that is used or kept mainly for your (or your associate’s) personal use or enjoyment. There is an exemption for a personal use asset you acquire for $10,000 or less.
These are our special offers for our legal service fees (prices are inclusive of GST).
1. First consultation fee: $132 for half an hour, $264 for up to one and a half hours if you refer to this offer.
2. 10% off for all family matters if you have a current pension card.
3. Off the Plan Property Purchase from $1,210.
4. Conveyancing under 1 million from $1,100.
5. Conveyancing from 1 million to 2 million from $1,210.
6. Conveyancing of Community Title from $1,452.
7. Basis Will from $220, Will for special need beneficiary from $550.
8. Financial Agreement from $1,210, Review of Financial Agreement from $726.
After you have signed a contract to buy a house, can you change your mind?
If it is a residential property, subject to certain exceptions (eg. buy the house by public auction), there is a cooling off period. You may rescind the contract at any time before 5pm on the fifth business day after the day on which the contract was made. However, 0,25% of the purchase price of the house will be forfeited by the vendor.