All Topics / General Property / Investing in the ACT

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  • Profile photo of tribe_of_dantribe_of_dan
    Participant
    @tribe_of_dan
    Join Date: 2004
    Post Count: 22
    April 25, 2005 - 1:59 pm

    Hi,

    I’m just starting off and I was interested in peoples thought about investing in the ACT as a possible way to avoid Mr Carrs NSW property exit tax? Has anyone out there do this?

    Thanks,

    Dan Lewis

    Profile photo of mattmccmattmcc
    Member
    @mattmcc
    Join Date: 2005
    Post Count: 2
    April 26, 2005 - 11:41 am

    We live in Sydney and have a house in Ainslie and a unit in Lyons. They have been good but it has been hard to go wrong in the last few years.

    My brother-in-law has a house that almost trippled in value in a few years and has been cash flow positive from from the start.

    I think those days are over. Returns are not very good anymore as prices have rised but rents are the same. I wouldn’t expect anything to great in the next few years.

    I am tempted to sell our house in Ainslie but my wife wants to hold forever!

    As always, ACT will be good in the long run but the returns just aren’t there anymore, as far as I know.

    We just did last years tax and there are still property taxes in the ACT, I expected the rent to cover all outgoings but it was not the case.

    Matt

    Profile photo of tribe_of_dantribe_of_dan
    Participant
    @tribe_of_dan
    Join Date: 2004
    Post Count: 22
    April 27, 2005 - 7:18 am

    Hi Matt,

    Thanks heaps for your reply. Do you know if the taxes there are exit taxes like in NSW?

    Thanks again,

    Dan Lewis

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