Settlement of Purchase of Khoja Shia Ithna-Ashari Jamaat Melbourne – Investment Properties

Khoja Shia Ithna Ashari Jamaat Melbourne had earlier informed the members of entering into a contract for the purchase of 29 and 33 Jimmy place warehouses as investment properties for its cash generation and support in Jamaat activities. We are pleased to announce that the settlement of both the warehouses have now been completed and since the warehouses were already tenanted the income has started to flow to Jamaat from Day 1.
We are also pleased to share we have been able to get stamp duty exemption on both warehouses from State Revenue Office (SRO) totalling approx. $48,000 and waiver of GST on purchase price of both warehouses amounting to $88,000