Prime Trust has achieved $77 million from the sale of nine aged care facilities and four retirement villages to LLP, representing a 20% discount to their book value. At the same time Prime Trust and LLP settled their legal dispute over the management of 12 Prime villages by LLP. This included LLP granting an option to Prime Trust to buy the management rights for its 12 villages, that are core to its business, back from LLP for between $42 and $45 million.
ATO plans to charge GST on manufactured home parks scrapped
A concerted effort by the Residents Association of manufactured home parks has headed off the ATO which had planned to impose GST in mobile homes. This would have added 10% to the cost of the purchase of a home