Zig and Peter Inge used just $8.42M of their approx. $630M they receive when they sold their 19 village portfolio to RVG in late 2007 to purchase a 5,200sqm site in Richmond, near the Yarra River. They have now dumped plans to develop it themselves and are selling, seeking $13M, having won building approval for 189 apartments, 19 townhouses and 850sqm of commercial space.
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