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Hi Kid,
If are looking for finance, an excellent website is “www.interestrate.com.au”
This site has current data from around 200 lenders, both banks and non banks. You simply choose the loan type, the size of the loan and your state and it will come up with a list of the most competative loan products available. It will also show fees and features of the loan.
Check it out.Thanks Derek. I am grateful for your response. You have confirmed my suspicions that the roumors I have heard are not a viable option. It is amazing how much misinformation is out there. Cheers for clearing it up.
Cheers Depreciator.
Maybe you have an answer for this question.
I hear a lot of people saying things like “Its easy to avoid CGT on your investment property. You just have to make it your primary place of residence for 1 year. You don’t even have to live there. You can leave the place vacant or have a mate rent it and just have your mail redirected.”
Is there any truth to this statement?I have a question about depreciation. I have read that depreciation does not really save tax, it just puts it off, as you will have to pay the tax in the form of capital gains when you sell.
Am I right in saying that the person will still benifit by depreciating in two ways.
1)The tax saving on $10000 today is worth more than the tax on $10000 in the future due to inflation.
2)After owning an investestment for more than one year, you only pay tax on half the capital gains. So even though the buy price of you property is written down by the ammount you depreceiated it by, the tax payed when selling is halved.
