http://www.depreciator.com.au/

I am sure you can find others, and get other recommendations, but I have used these guys a few times, and whilst they advertise they charge a small fee for updating them for you when required, I actually haven’t had to pay the two times I have had them updated (probably as I was a return customer). They did take…[Read more]

The property I have had for a number of years (14) and I am refinancing for the equity as collateral, the loan is not changing its just moving to the same bank as our PPOR that we are about to purchase, so that the higher LVR on that loan can occur without LMI.

I was exploring the CGT stuff, as if I were not liable for CGT on the transfer to my…[Read more]

Literally just found this, it does mention she was renting the property out and then tenant contradicted her story of living in it:

http://www.domain.com.au/news/staying-over-at-boyfriends-place-costs-sydney-woman-first-home-owner-grant-20160317-gnl2ur/

John

Obviously something the banks don’t want us to know, and to be honest I don’t think many of them would even know how to structure it, as they initially wanted me to pay off an investment loan to get this new mortgage, and it took some effort to get what I wanted… I guess if the bankers you were dealing with were smart enough to know complex…[Read more]

Seems like a complex question only a good tax accountant who really knows the ropes can answer :(

Thanks for the help anyway.

So to clarify on the CGT, if I transferred 50% to her I would cope a CGT event, and then if we sold it in say 12 months time and it went down, she would get a capital loss??? Not exactly a great outcome, though in the…[Read more]

Cross collateraisation is often used on a PPOR loan at 50% LVR to finance an investment at 95% and to be honest is sheer stupidity, and you almost deserve to lose your house if you gamble it on an investment, though there may be other purposes that are not for investments.

Doing it the other way make good sense in my option and I am offering up…[Read more]

Do you still live in the place at the moment and do you know any of the neighbours from that time? Perhaps if you are friendly with any of the residence from that time you can ask them to write a statutory declaration that you resided in the property and they regularly (at least once or twice a week) saw you at the property (if you were really…[Read more]

Are there any “portable” homes in the area people want to dispose of (ie give away – most give them away but you have to pay for transport), depending on your CGT liability, if someone was to dump an old house on the land, check what services you have to have connected (living without grid connected electricity isnt illegal is it?), move into it…[Read more]

Are there any “portable” homes in the area people want to dispose of, depending on your CGT liability, if someone was to dump an old house on the land, check what services you have to have connected (living without grid connected electricity isnt illegal is it?), move into it and sell the block… you may get lucky and find someone who will take…[Read more]

Hi Chattaway,

This is one that I have look at for years, nearly 6 years actually, as I am coming up to the 6 year mark for my own PPOR in sydney since we started renting it out and we are looking at selling to capitalise on this, as to continue renting it out would be a huge hit to the hip pocket between capital gains and what we would be exempt…[Read more]

Hi Chattaway,

This is one that I have look at for years, nearly 6 years actually, as I am coming up to the 6 year mark for my own PPOR in sydney since we started renting it out and we are looking at selling to capitalise on this, as to continue renting it out would be a huge hit to the hip pocket between capital gains and what we would be exempt…[Read more]

So just to clarify, are you looking at selling as you want to find a new direction, somewhere else to live, or are you just wanting to gamble, hoping that prices will drop and you will pick up the neighbours house at a later date for a smaller price?

If you are planning on retiring or a sea/tree change, then perhaps selling may be a good idea, it…[Read more]

So just to clarify, are you looking at selling as you want to find a new direction, somewhere else to live, or are you just wanting to gamble, hoping that prices will drop and you will pick up your house or the neighbours at a later date for a smaller price?

If you are planning on retiring or a sea/tree change, then perhaps selling may be a good…[Read more]

Yeah, your right Terry, that would be strange. I have not looking into it much and forgot that stamp duty exemptions for transfers for equal shares to a spouse are only valid on the PPOR. So unless we were to move into this property at some stage, that is not a likely option, though as the place is positively geared and has a decent capital gain…[Read more]

Yeah it was just a weekend trip fly in Saturday, fly out Sunday, not a holiday in disguise, there are much cheaper ways to go to the beach than taking 2 flights each way to get there. Maybe next time I drive, take a couple of extra days and claim all my expenses (I’m not explicitly saying the family will be in the car, lol).

Depends on the council, if you have ever watched ACA or Today Tonight there have been 4+ story apartments build next to houses, leaving them in the shade all day (corrupt politicians doing anything for a buck) and others that are so strict that you make your front fence an inch higher than regulation they make you knock it down and redo it. So I…[Read more]

Why not consider buying first and then getting the car lease after it, it is much easier to get the car lease, and if they won’t give it to you based on your capacity to borrow, you probably shouldn’t bother with it.

As the average IP is negatively geared from the start, the “savings” from a lease come from the savings on tax, whenever I EVER…[Read more]

One thing I would say is work it out based on NOT having that money first, it is never truly a gift especially from the in-laws who can hold it over your head. (That being said, they may be the perfect in-laws and it IS a great opportunity).

One easy solution (as others have stated) is to borrow the maximum amount (80%) and put the money they…[Read more]