| PASSED
IN |
|
Relating
to property offered for sale at an auction but not sold because
the highest bid did not reach the reserve price set by the vendor. |
|
| PASSING
RENT |
|
The
actual current rental income of a property, as distinct from
the income which would achieved if the property were fully let
at current market rents. |
|
| PAYBACK
PERIOD |
|
The
length of time required for an investment to recover the initial
cash outlay. |
|
| PCA |
|
Property
Council of Australia (formerly Building Owners' and Managers'
Association). |
|
| PLOT
RATIO |
|
The
total floor areas of a building divided by the area of the land.
The plot ratio will normally exceed I for a multi-storey building.
|
|
| POSITIVE
GEARING |
|
The
situation when an investment such as property or shares is purchased
with the assistance of borrowed funds and where the rental or
dividend income (after the deduction of expenses) is more than
the interest commitment in the course of a financial year. |
|
| POSSESSION |
|
The
actual holding or occupying of land. |
|
| PRIVATE
TREATY SALE |
|
The
sale of property by negotiation between the parties, as distinct
from at auction. |
|
| PROPERTY
TRUST |
|
A
unit trust with the bulk of its assets invested in property.
|
|
| PROVISIONAL
TAX |
|
An
advance payment of the current year's tax, based either on an
estimate of that year's income made by the taxpayer or on the
previous year's income adjusted by a statutory "uplift factor".
|
|
