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RLW snippet

Discussion in 'Rugby League Forum' started by Kiwi Eagle, Mar 31, 2015.

  1. Kiwi Eagle

    Kiwi Eagle Moderator Staff Member 2016 Tipping Competitor

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    Was a little piece in there yesterday about a recent big name signing having his deal sweetened by being sold an apartment worth $850,000 for half the price and apparently it has a water view

    Is cherry going to be living by the ocean up there is he ...

    Very easy to see how a salary cap can be exploited with stuff like that
     
  2. manlyfan76

    manlyfan76 Parra Trolls are the best. Premium Member 2016 Tipping Competitor

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    Every house on the GC has water views.
     
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    • manlywarringah

      manlywarringah Well-Known Member Premium Member 2016 Tipping Competitor

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      There's new developments going up along the parra river. They are quite expensive & i reckon it's probably one of them for foran.

      Dyldam is building heaps of new units here so they couldve got around the salary cap with their new sponsor...not that it is legal of course.

      Could be cherry & the titans but my money on foran getting a very nice investment.

      Over to you NRL....lol, like they could find ANYTHING!!!
       
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      • Fluffy

        Fluffy Well-Known Member

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        I am betting top level rugby league players are the best negotiators in the world. Some of the prices they negotiate for cars, boats, property is just mind blowing i bet.
         
      • Loobs

        Loobs I am not really Scott Penn Premium Member

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        850K val on an apartment on the Goldie that actually sells for half that is normal business up there. Actually it's probably a good return...
         
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        • NewwyEagle

          NewwyEagle I sleep in a racing car

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          It may be cherry, but with two kids and a wife I'm speculating that cherry will be moving into a big house, not an apartment. Unless it's done investment or something, I dunno. Not sure who else it could be though.
           
        • Crusher_Cleal

          Crusher_Cleal Well-Known Member

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          Canberra has lake Burley Griffin you know..
           
        • Kiwi Eagle

          Kiwi Eagle Moderator Staff Member 2016 Tipping Competitor

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          Say it is the titans, the NRL are hardly going to impose any sanctions on themselves now they own the club ...
           
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          • Ryan

            Ryan Well-Known Member

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            Typical..and they have track record with guys like Scott Prince taking kick-backs on his development.
             
          • manlywarringah

            manlywarringah Well-Known Member Premium Member 2016 Tipping Competitor

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            My friend checked out the parra river apartments going up & they are in th $800-$900,000's.

            Confident it's foran with dyldam cutting the price
             
          • tookey

            tookey Well-Known Member 2016 Tipping Competitor

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            Parra did similar with Lussick who was sold a unit on the cheap in North Ryde by Obeid.

            I have heard rumours of a certain club who has a director who is able to source properties under market value for players.

            Once the player purchases it the club arranges renovations through friends of the club at no cost to the player who then sells the property for hundreds of thousands of dollars more than they paid for it all tax free and not disclosed in the salary cap.

            Do that a couple of times in a players career and there is probably another $1m tax free in income not in the salary cap.
             
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            • HappilyManly

              HappilyManly MWTS Premium Member 2016 Tipping Competitor

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              Why would it be CGT free?

              Tax will be at highest rate on 50% of the gain ie 212.5k in this rumoured discount. Would make more if the Value was inflated on paper and they sold at a loss:wasntme:
               
            • Peter C

              Peter C Well-Known Member

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              No capital gains tax applied if it's your primary residence
               
            • tookey

              tookey Well-Known Member 2016 Tipping Competitor

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              Correct

              The player lives in the house supposedly while it is renovated. Then sold as an owner occupied property CG free.
               
            • ALinda

              ALinda Well-Known Member 2016 Tipping Competitor

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              Who's to say its not the Northern Beaches, or does 'water' view rather than 'ocean' view give it away? Could 'big name' be Burgess? Just speculating....
               
            • DUFFMAN

              DUFFMAN Active Member

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              Nearly every club could have water views, even Penrith has the Nepean.
              I'm sure Max never done anything like this :wasntme:

              All clubs would being know a way of doing something.
              How many players would have several investment properties brought a bargain rate due to there great negotiation skills
              How many players of a certain team will be in Mustangs next year.
              Some players might even be lucky to have a big win at a casino or on at the clubs pokies.
               
            • Andrew..

              Andrew.. Well-Known Member 2016 Tipping Competitor

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              The bigger question is. How many TPA can the owners of our club generate, otherwise we will just be making up the numbers.
               
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              • HappilyManly

                HappilyManly MWTS Premium Member 2016 Tipping Competitor

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                Ok, but his current house would become CGT affected then.

                Sounds dodgy to me and the ATO has Sports People on audit lists in any case.
                 
              • mave

                mave Well-Known Member Premium Member 2016 Tipping Competitor

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                Arent we making up the numbers right now?
                 
              • tookey

                tookey Well-Known Member 2016 Tipping Competitor

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                Not if it was the players only house.

                Plenty of people buy a house renovate it and then sell and move to the next level.

                Who knows by the time some players retire they could be selling $10m houses?
                 

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