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Keysborough To Relocate


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#31 golden warrior

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Posted 06 March 2015 - 09:18 AM

Interesting to see all this sale and merger activity in Melbourne, and whilst many courses in Sydney have sold pieces of land, as far as i can recall its only Ashlar who actually packed up and moved.

I have always wondered what would happen if golf course land was sold post a rezoning. Do present members split the proceeds?


I asked that question once, apparently it goes to Golf Australia. Not real sure.
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#32 Lukos87

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Posted 06 March 2015 - 09:19 AM

I think huntingdale is a great course even through I hate the place. If I was good at golf it would be fun but every time I play there it destroys me.
However I would prefer to play all the other sandbelt courses instead of the dale. Those fairways are far to tight for a hacker.

#33 KeyboardWarrior

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Posted 06 March 2015 - 09:31 AM

I asked that question once, apparently it goes to Golf Australia. Not real sure.

Depends on the constitution of the club. Usually the proceeds have to go to a similar not for profit golf club - GA would not quality.



#34 voss

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Posted 06 March 2015 - 10:58 AM

Interesting to see all this sale and merger activity in Melbourne, and whilst many courses in Sydney have sold pieces of land, as far as i can recall its only Ashlar who actually packed up and moved.

 

I have always wondered what would happen if golf course land was sold post a rezoning. Do present members split the proceeds?

Members would not. If the Club is set up with Shareholders then they would split up the net proceeds.



#35 Shanks4ever

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Posted 06 March 2015 - 04:41 PM

Members would not. If the Club is set up with Shareholders then they would split up the net proceeds.

And probably pay astronomical capital gains tax.



#36 Weetbix

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Posted 06 March 2015 - 05:01 PM

Dunno about that - they don't get a deduction for their membership so why would they pay tax on a distribution? It's a NFP entity.

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#37 Danz

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Posted 06 March 2015 - 06:07 PM

It seems odd they would send that letter then not say where they're going.



#38 *Mouldy

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Posted 06 March 2015 - 06:59 PM

Well it seems the discussion on here created some jocularity at the club last night.  G'day Dee !!!!

 

The latest news is that it is not a merger it is a stand alone relocation.  The club has an option on some land 2.5 km away from the current course.

 

Full details in a couple of weeks and the major news - the architect is not Thomson.  I was told but it may have been in confidence so I'll let someone else leak that.  I do know that it will be well received on here.


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#39 Shanks4ever

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Posted 06 March 2015 - 07:00 PM

Dunno about that - they don't get a deduction for their membership so why would they pay tax on a distribution? It's a NFP entity.

If they are shareholders and not members tax rules apply.



#40 Shanks4ever

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Posted 06 March 2015 - 07:03 PM

 

 

Full details in a couple of weeks and the major news - the architect is not Thomson.  I was told but it may have been in confidence so I'll let someone else leak that.  I do know that it will be well received on here.

Obviously Robert Allenby, he built a masterpiece at Creswick, "the Augusta of the south. :lol: "



#41 Hawkers2015

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Posted 06 March 2015 - 10:12 PM

Members would not. If the Club is set up with Shareholders then they would split up the net proceeds.

 

If the club has income tax exempt status that won't be possible, although a capital distribution, ie what the club sold the shares for would be okay as its not a distribution of profits.

 

The constitution will have a provision about distribution of surplus.  My guess is that it will say an organisation of similar objects - so another golf club or clubs, GV or GA or any combination of these would suffice.



#42 Top_Cat

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Posted 08 March 2015 - 04:36 PM

Geoff Ogilvy designs courses for quarter the price of Thompson, but is he any good?


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#43 *Mouldy

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Posted 08 March 2015 - 04:42 PM

Geoff Ogilvy designs courses for quarter the price of Thompson, but is he any good?

No idea but he's not designing the new Keysborough.  Wouldn't think he would have time living in the US anyway.


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#44 Shanks4ever

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Posted 08 March 2015 - 04:48 PM

Geoff Ogilvy designs courses for quarter the price of Thompson, but is he any good?

I would have thought Ogilvy only offers a few suggestions to Clayton, Cocking and Mead.



#45 Top_Cat

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Posted 08 March 2015 - 06:43 PM

I would have thought Ogilvy only offers a few suggestions to Clayton, Cocking and Mead.

Like how to start a chainsaw.


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