Some good basic legal documents can be purchased from http://www.lawcentral.com.au. Cleardocs also provides good documents.

According to the Australian Bureau of Statistics the average male weekly wage was $133 in 1974 meaning that the average yearly income was $6,916. Disposable income for the same period was $2,912 per annum.

This certainly does put things into a different light.

I agree with residentialwealth. I can only laugh at people who have bought into these McMansions. I mean by 2011 the population will be moving out of these huge properties (as they will be too large too maintain – as if they aren’t already) and moving into smaller accomodation.

Older people want a few things.

1. Security. Over 55s…[Read more]

Not sure how you came up with a value of $65k for it to be positively geared. Ok the variables will differ but lets assume :

1. You are on the top marginal tax rate paying 48.5%
2. The property was constructed prior to 1985 and therefore not eligible for the Division 10D capital allowance.
3. Assume depreciation on fixtures and fittings at…[Read more]

Well I can provide some questions you should ask of your accountant but someone else will need to provide you with information on lawyers. Firstly you need to determine the purpose your using the accountant in order to determine which questions to ask. Since this is a property investing forum I will therefore assume you want an accountant…[Read more]

A deduction is available for the decline in value of a ”depreciating asset’ that is held by the taxpayer at any time during the year. The deduction is reduced to reflect the extent to which the asset was used during the income year for a purpose other than a ”taxable purpose” (eg private or domestic purposes or to produce exempt income) under…[Read more]