Thanks Richard.

Yeah, prices in London are high but they seem to be going down lately with everyone talking about the credit crunch.

Do you know how I would be taxed on rental income on an IP in Aus as I am currently a non-resident for tax purposes and do not have to do any tax returns?

The other factors that I was considering was the high interest rates in Aus and the strength of the Aussie dollar (Roughly: $2 = £1). With a 40k deposit do you think it is possible to buy a positively geared property?

Thanks again for your first response.

Well, I was thinking of paying some of my HECS debt which is about 20k. I have no consumer debt despite using credit cards. I currently use my cc to pay for my bills, groceries etc and park the money I would be spending into my ING. At the moment it’s all in ING and another 1k in managed funds (Japan Platinum)…well…it was 1k but now its $930! I won’t be touching that for a while!

I was also considering putting some into my super to take advantage of the governments co-contribution but after checking my super fund statistics it wasn’t looking good… my total investment was 1k less than the sum of all my contributions over the past 5 yrs… crazy. It’s still an option to put some into super although I would def have to switch funds first and arrange all this before end of the financial year. I’ve read it’s not really beneficial to put extra money into super until you are getting closer to retirement (I’m 24).

Sorry this thread steering away from property investing.

Thanks for your inputs Rob and PJ! I will be leaving it in ING and continue to research!

And also.. hope all goes well with the wedding voigtstr!

Cheers,

Sarah