Our Backyard – Anglesea

15th June 2018

See what happens, I talk about whales and then they arrive for a visit in Anglesea. Saturday we had a mother and calf literally hang out at Point Roadknight for the entire day! Talk about an extra selling feature of 14 Fifth Avenue. I had buyers come through the open for inspection and all were taking turns in using the binoculars to get an even closer look than the spectacular sight we had the pleasure of seeing from the balcony.

Then on Sunday, the whale popped around to the end of O’Donohue Road back beach and we could view it from the roof top terrace at 240 Great Ocean Road – open for inspection! What a blessing these creatures assisting in selling properties for me!

I mentioned last week I had offer on almost all of our stock, 2 of those being formalised this week with 14 Fairway Drive and 240 Great Ocean Road, both now under contract. Still very strong interest on 14 Fifth Avenue. So if you’re keen on anything on the market, be quick because winter is the best time to secure a property, particularly excellent for negotiating a deal when its pouring with rain, freezing and blowing a gale…… why because buyers want to stay home and keep warm, which means you don’t have to compete with other parties!

As we head into end of financial year, I thought it would be handy for Anglesea property owners to understand what is considered a Primary Place of Residence, in case you fancy moving to the coast for a period of time with the view of not incurring Capital Gains Tax. It’s an interesting situation to perhaps swap from your Melbourne property, then sell the coastal home and then back to your Melbourne property! Of course I’m not an accountant and always best to get expert advice, however this change could literally save you a lot of cash and the huge benefit is you get the chance to totally enjoy your beach house and coastal living.

For your info the ATO definition of Primary Place of Residence is;

Generally, a dwelling is considered to be your main residence if:

– You and your family live in it

– Your personal belongings are in it

– It’s the address your mail is delivered to

– It’s your address on the electoral roll, and

– Services such as gas and power are connected.

The main residence exemption is not based on one factor alone, and the weight given to each varies depending on individual circumstances.  The length of time you stay there and your intention in occupying it is also relevant.

ATO and Primary Place of Residence and Exemption related information.

https://www.ato.gov.au/General/Capital-gains-tax/Your-home-and-other-real-estate/Your-main-residence/

https://www.ato.gov.au/General/Dispute-or-object-to-an-ATO-decision/In-detail/Information-for-your-objection/Capital-gains/CGT-exemption-for-main-residence/

Have a great weekend, look forward to seeing you at the open for inspections and private appointments.

Regards

 

 

 

 

 

Kellie Saddington

Branch Manager

 

UNDER CONTRACT

14 Fairway Drive, Anglesea

240 Great Ocean Road, Anglesea

 

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