Can I keep and rent the apartments?
Yes, you can, it’s your choice whatever you decide to do with the prize. You could move into any of the three apartments, keep all three and rent them out for an estimated income $153,140 a year, or sell it for the market value. This is subject to market variations depending when you rent the apartments.
Do I have to pay tax if I sell?
You can sell the apartments tax free at the prize value. If you sell at a higher rate than its value, then capital gains on the difference may apply. There may also be land tax implications but this is dependent on your personal circumstances. We advise the winner to contact a financial advisor for comprehensive tax advice relative to your personal circumstances.
If I win do I have to pay to travel to the homes?
First prize includes a $3,000 travel voucher for you to use to visit your prize homes.
If I win the Loyal Supporter Draw do I have to go to Lapland?
No. The prize comes in the form of a Flight Centre voucher and gold bullion. It is completely up to you how you spend these items.
When were the apartments built?
The Sydney apartment was built in 1991, the Port Melbourne apartment in 2015 and the Noosa home in c2004.
What are the sizes of the apartments?
Port Melbourne: 45sqm
Can I visit the apartments?
Only the Noosa apartment is open for viewing until 7th November, 10am - 3pm (AEST), seven days a week. The address is ‘The Rise’, 26/37-39 Noosa Drive, Noosa Heads, QLD 4567. Please use the Edgar Bennett Avenue entrance. Why not take a virtual tour of the Sydney and Melbourne apartments?
Do the homes have wheelchair access?
Each apartment complex features a lift, but there are stairs in the Noosa home.
Is there parking?
There is one car park at each of the apartments and the Port Melbourne apartment also features storage.
Can I have pets in the homes?
Pets are subject to body corporate approval for the Sydney and Port Melbourne apartments, but they are not allowed in the Noosa home.
What type of energy is connected?
Sydney: Electricity and gas
Port Melbourne: Electricity and gas
Is there air conditioning?
Yes, there is split air conditioning in the Sydney and Port Melbourne apartments, and ducted air conditioning throughout the Noosa home.
Are the homes fitted with a security system and intercom?
How much are the rates, water and body corporate?
Rates, water and body corporate are paid for the first 12 months as part of the first prize.
Port Melbourne: $3,491
Has transfer duty been paid for?
Yes, transfer duty for the Sydney and Port Melbourne apartments has been paid (valued at $79,835 for Sydney and $27,170 for Port Melbourne).
Are legal fees covered for first prize?
Yes, legal fees are paid for, valued at $4,125 ($1,375 for each apartment).