Hi MM,Well I'm not very familiar with the rules in the ACT but perhaps you could try contacting Gary Seeto (888 Abundance) of this forum who lives there.https://www.propertyinvesting.com/user/53670

The joys of slab on ground!!  Give me a lovely Queenslander on stumps any day.

That's a new one to me also so I've just added it to our Glossary of Terms.

Hi Cherry Pro,We also have a number of free downloadable spreadsheets and templates on our website that may be of interest to you.

Great research Xenia, thanks for sharing.

Yes Raddles is correct you will need to declare the rent as income but can also claim any expenses.  No CGT as long as the asset isn't changed in any way.  Lucky devil!! Not many people still holding a pre CGT asset.

Hi Paul,Capital Gains Tax (CGT) is the tax paid on any Net Capital Gain made on an asset that is sold, and is included in your Income Tax Return.  As Elka has explained a 50% discount on assets held at least 12 months is applied to the Net Capital Gain.  CGT is not a separate tax but forms part of your income tax payable. For 2007 taxable i…[Read more]

Hi there,  This is your money and your future at stake here, so its really important that you understand these figures,  and not put so much trust in the hands of a total stranger.  You really need to do these calculations yourself.We have several free downloadable templates/spreadhseets on our website that will step you through the pro…[Read more]

Try contacting Tom Armstrong from Ipswich.  He's also a forum member here.http://www.propertydivas.com.au/7ProfServ/Professionals.aspx?cmaid=1a5abfe8-7d2e-4172-affd-1247759d1b4c&cmstat=Basic

Yes I agree with Duxster it is how the funds are used and not what property is mortgaged that is relevant.  Probably the only other way would be to sell it to a Family Trust,  but you'd have to pay stamp duty then, so you're caught both ways.Being your PPOR though there would be no CGT if you sold it now, and rented while the other place is b…[Read more]

Wow what a great start at such a young age.  Perhaps you can move in so you get the 1st home buyers grant and rent out the other rooms for some extra cash.  I'd suggest you pay for an independant valuation though before you sign on the dotted line, just to protect yourself!!

Yes, most of the information you seek can be obtained for free from your local Council, you just need the time to do the running around.

Hi loveinvesting,If you need any further details on Ipswich please feel free to drop me a line,

I'd suggest you have a look at Ipswich as the area is expected to triple in size over the next 20 years.  An average house in good condition will cost $220 $250K and you should expect 5-6% return.

Daryl wrote:
Thanks Amanda;What aspects would complicate things?

There are just so many steps, tests and reports and each takes time.  The following is an extract of a document off our website that explains further about subdividing:What is Subdividing?Subdividing is when a piece of land is split into two or more pieces (ie separate lots). The…[Read more]

Thanks ao…I'm also a firm believer in Karma.

We use http://www.abr.com.auThe annual subscription fee is $200.  Reports can be downloaded direct off the internet within seconds and you pay around $20 – $60 depending on the type of report.  It really doesn't matter how much the current owner has paid for the property, what you need to consider is what similar properties within 1Klm radius have a…[Read more]

Hi Col,In order to be eligible for an immediate writeoff expenses must be directly related to renting the property and returning it back to its original condition.  One on the cheapest ways of course is a coat of paint after you've had the place tenanted for a while.As Brett has said though if you improve the property with a new kitchen, bathroom…[Read more]

Hi Daniel,Wow, I can't believe you're only 22 years old, boy at that age I spent every last cent on clothes and night clubs….Yes those were the days!!  I certainly wasted a lot of $$$$ in those days but had fun doing it.Anyway back to your question.  The reason Steve could buy multiple properties back in those days was becauase they were cash f…[Read more]

Subdiving the block may take longer than you expect, 6 months, 12 months or even years depending on how complex it is.  So I'd suggest putting in a tenant on a 6 month lease and also lodging the DA at the same time.By the way what rules are you expecting Coucil to change?