Just in interest about this, do you rec an income from o/s source?

The reason I ask is that I was told that if you do not bring the income into Australia, then u don’t pay taxes in Australia. True or not?

Just food for thought – My friend got a large inheritance and paid off her PPOR. However, now separated she is going to lose this $$$ upon the sale of the home (50/50 split). I would make sure you have an agreement with your husband first before paying off PPOR. Also, lawyer told her it would’ve been better for my friend to buy a property in her…[Read more]

Thanks Terryw
Just to clarify as I like to read things in simple terminology, I don’t get what you mean by ‘may not be an issue as company tax is 30% and CGT a max of 24% so just a 6% difference’.

I’m trying to get my head around the meaning of the statement.

Simple terminology is – If I have a profit of $1,000,000, GCT would be $300,000. Are…[Read more]

If I had my time again I wouldn’t of made all the mistakes of listening to my accountant 20 years ago.

DON”T put into a Company name. You do not get 50% CGT deduction. A real killer when u want to sell a property 20 years later and you have a profit of say $1,000,000 (this can happen if u invest in property long term). Guess what —- you pay…[Read more]

I’m no accountant or financial adviser, but who would like to be paying $48K to Mr Abbott. I could go on a round the world cruise 1st class with that. Mate I would tell him to buy a few good waterfront and/or beachfront properties in the Eastern Suburbs of Sydney like Coogee, Maroubra, Clovelly sort of places, blue chip locations. Must have…[Read more]

Cheers for that. I will definitely call you. Just one thing I will say so the forum can read is the biggest difference in USA compared to Oz is there is no “tall poppy” in the USA. I drove a nice car in OZ and people would come up to me and say “you must be ripping someone off” and even spit on my car. In America I also a drive a nice car (SO…[Read more]

Actually after hearing your podcast I have got off my backside and rang the Mortgage broker to get to work on getting me some more money. Thanks for the boot up the ass Engelo. I haven’t done anymore buying since 2010. I travel to LA & San Francisco every year as I love the USA. I have an investment property in Pac Heights. I admire what your…[Read more]

I use a Postal Box service in San Francisco, $375 per year plus costs of her forwarding my mail to Oz, contact is; postbox1592@gmail.com
They accept Credit Card or I just send them a Check each year from my BOA checking account.

I own a condo in Pacific Heights San Francisco. I've owned it since 9/11. I do not use an Agent to find my tenants or manage it. I use Craig's List. At the start I was renting it for $1500-$1800 p/m, incl utilities, but in the past 18 mths I'm now renting it for $3,000 p/m + utilities. it's now plus, plus cash-flow for me. I have tenants every 12…[Read more]

No, trusts etc have been set-up years ago. I am very very fussy with providing records to accountant. As mentioned before everything is given to accountant via MYOB all reconciled for all accounts.

Accountant based in Brisbane

LC, Good intention is what my partner had when she decided to move back into her home in Melb, but 4 weeks later she did'nt like living in Melb and the weather sux's so with all good intentions she decided to move back to QLD. It's simply a LOOP HOLE that our  accountant advised that we CAN do as long as we could prove she moved-in. I cannot see…[Read more]

Yes agree, hence why we had a friend go by everday and run the heater etc for a while each day.

My partner does not work, she is a housewife, however, it does not matter where you work. people work in all different states and have a PPOR wherever they want all over the world. Remember you are allowed to have 1 x PPOR where you can come and go whenever as you please. As long as you can prove you moved-in, hence electricity/gas bill, all id's…[Read more]

We just did this, we kicked out the tenants (did'nt renew the lease). On the advice of our accountant upon the 6 years of owning a property in Melb, my partner (was her PPOR when purchased) moved back in for 4 weeks. But she did not actually physically move back in. This is VERY important. YOU MUST BE ABLE TO PROVE THAT YOU MOVED IN. To do this…[Read more]

mmmm, hang on. If you live in a property for more than 12 months you simply comply with the requirements set by the ATO, your entitled to CGT free. You can do this (buy & sell) for the rest of your life CGT free as long as you live in the property for a min of 12 months. GST is applicable to Commercial/industrial property when you sell, not re…[Read more]

I have one house that is insured through EBM and the rest are with Suncorp as those properties are in QLD. With insurance for a (house) rental property, I don't take-up contents insurance as the place is not furnished. It's a question I put to my insurer last year and asked what does the contents include and it was more if the property was f…[Read more]

Thanks for that, I'll give them a try.

Look up your lease. It should be stated in the lease as a special condition. Remember If your the owner going to do the work, your agent must give proper notice of entry to enter the property, even if it's just outside in the garden or you could get yourself into strife.