Q: I’m thinking about buying a new investment property to negative gear after the budget changes this year. I’ve never bought a new apartment (I already own an older unit) but I know the first annual general meeting is critical in addressing potential problems – what issues should I be aware of? How will capital gains tax work on a new apartment? Also, an issue with my other investment is unnecessary costs incurred because some residents constantly contact the strata manager, who then charges overtime to the body corporate. How can this be avoided? – Indira
A: If you are buying a new or off-the-plan apartment, the biggest financial issue is whether the levies have been correctly calculated, says Jimmy Thomson, founder of strata website Flat Chat.
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