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Bonham
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@bonham
Join Date: 2008
Post Count: 18
February 24, 2015 - 4:33 pm
Sounds like the vendor may have “family” as tenants. Just a hunch.
Bonham
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@bonham
Join Date: 2008
Post Count: 18
May 22, 2014 - 7:22 pm
superAndrew wrote:
<div class=”d4p-bbt-quote-title”>Ben wrote:</div>
are positively geared properties given the same depreciation as negative property?
Yes.
You are entitled to a tax refund if your taxable income is negative (taxable loss). The amount of the refund is a fraction (tax rate) of the taxable loss.
Try to understand how to calculate your taxable income.
Income – deductions = taxable income

Deductions = interest, depreciation, deductible expenses, etc
If your taxable income is negative then you’re entitled to a tax refund. Don’t think about your cash flow when you do these calculations.
Tax refund = taxable income(if negative) * tax rate
Note: you will only get the refund if you have paid tax from other income. If not it will be carried over to next year.
Hang on, didn’t our beloved Kevin 07 change the rules and declare that we must now be taxed on all income prior to expenses/deductions?
Bonham
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@bonham
Join Date: 2008
Post Count: 18
October 30, 2013 - 11:23 am
Freckle wrote:
jmsrachel wrote:
Well I guess all we can do now is sit and wait. Reminds me a bit of that movie deep impact.
AU is likely to take the least damage and should recover faster than others due to much smaller debt load and economy that is at least partially supported by stuff others want.
As long as you keep your leverage below 60% and can take a 50% asset depreciation hit while still retaining positive cash flow you should be alright in even the worst of situations.
If your even close to negative gearing you're a goner.
Are you just talking about shares or property or BOTH?
Bonham
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@bonham
Join Date: 2008
Post Count: 18
May 2, 2012 - 5:08 pm
Thanks for feedback folks.
To clarify, will they be approachable if I ask them to extend the loan out to the max as I currently have only 6 years left to payout on a variable loan with still a lifespan of 12 years Interest+principle loan? In other words, I've knocked it down by half already over the past 4 years.
Will they now let me pay lower repayments to the true length of the loan, being 12 years left, whilst I'm unemployed, yet still able to meet repayments due to a cash stash.
Or, will this let off alarm bells at the bank, that I have no other income coming in apart from the rent from the IP?!?
Bonham
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@bonham
Join Date: 2008
Post Count: 18
March 30, 2012 - 6:16 pm
Forgot to say, totally own outright PPOR currently valued by local RE's at $750+
Bonham
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@bonham
Join Date: 2008
Post Count: 18
February 18, 2012 - 9:33 am
I have self-managed our IP holiday rental for 4 years using the following with great success and endless bookings:
http://www.availcheck.com/index.php
Bonham
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@bonham
Join Date: 2008
Post Count: 18
January 29, 2012 - 9:27 am
wadiman wrote:
I live only a few suburbs away from these areas and believe that a lot of the difference in value (compared to adjacent suburbs) is due to much of these suburbs being directly under the flight paths. However, I'm sure there are good pockets and the values are improving as the areas are tidied up.
A friend has lived in Stanmore for 25 years. Staying there is unbearable due to the flight path (if you reached for the sky you can nearly touch the underbelly of every plane), talking on the phone, you have to stop and pull the phone away from your ear for a minute, talk again for a minute, then repeat, every single minute. Thank goodness for those that persist in living in the inner-west, it does stop after 11pm with curfew.
Bonham
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@bonham
Join Date: 2008
Post Count: 18
January 28, 2012 - 9:06 am
Read your contract (fine print) with your managing agent, meet with your solicitor and don't take any other action until you have done this.
Bonham
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@bonham
Join Date: 2008
Post Count: 18
January 26, 2012 - 4:48 pm
Well the Valuer General just sent me my new notification of valuation of my PPOR plot here in Sydney and has raised it by 15% since the last '08 valuation. No thanks to him/her/it, my rates are going to increase by 15% over the next 3 years. I somehow can't see a supposed 60% decrease in the North Shore side of Sydney any year soon.
BTW, …not happy.
Bonham
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@bonham
Join Date: 2008
Post Count: 18
January 22, 2012 - 1:53 pm
Totally agree with gyprocking over all brick walls. It's the next cheapest thing to a paint job. Well worthwhile and will totally lift any place and visually lifts it and makes any room appear much larger instantly. Finding semi-retired reputable (word-of-mouth) builders/plasterers is a bonus.
I reckon you should definately go for it.
Bonham
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@bonham
Join Date: 2008
Post Count: 18
January 22, 2012 - 8:29 am
My PPOR still has original varnished cedar et al doors, door & window frames throughout from 1972 and I have continued to ignore any thoughts of painting over them. They are brilliant as they are maintenence free and are a great offset as opposed to totally whitewashed modern style that seems to be everywhere at the moment. Walls are easy to re-paint every few years, but doors, frames and windows are a nightmare when updating every few years becomes a necessity.
Timber should be enjoyed for its natural beauty in my opinion.
Bonham
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@bonham
Join Date: 2008
Post Count: 18
December 21, 2011 - 2:18 pm
Please correct me if I'm wrong.
I have always thought that the current government increased the FHOG x 3 ($21,000) during the GFC peak, to combat the relaxed FIRB rules, so that FHB's could compete with the foreign investors/students/ near 500,000 immigrants during '08-'09 that truly drove up the residential real estate prices?
Because, since the FIRB rules were tightened up again since early/mid 2010, the FHOG has gradually fallen and subsequently stopped.
Bonham
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@bonham
Join Date: 2008
Post Count: 18
December 8, 2011 - 9:22 am
keiko wrote:
Bonham wrote:
Depends.
I have a holiday rental property, of which none of the common insurance companies can fulfill. If this is the case, you will need to go with an insurance broker, as your public liability, damage and risk of theft is much higher.
My annual premium for a 12 month holiday let property is $375.00 which includes $20M public liability insurance.
P.S. If you are Strata Titled, the body corporate will (should) also have insurance to cover public liability outside of your walls.
Hi, that is cheap insurance, who do you use?
Cheers
I use EBM Insurance Brokers in Abbotsford, Vic.
The policy includes $50K contents insurance as it is fully furnished for holiday letting and a further $50K for loss of rental income up to 12 months for insured damage, death of guest and prevention of access, as well as the $20M Landlords Legal Liability as previously mentioned.
Bonham
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@bonham
Join Date: 2008
Post Count: 18
December 6, 2011 - 12:41 pm
Depends.
I have a holiday rental property, of which none of the common insurance companies can fulfill. If this is the case, you will need to go with an insurance broker, as your public liability, damage and risk of theft is much higher.
My annual premium for a 12 month holiday let property is $375.00 which includes $20M public liability insurance.
P.S. If you are Strata Titled, the body corporate will (should) also have insurance to cover public liability outside of your walls.
Bonham
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@bonham
Join Date: 2008
Post Count: 18
December 3, 2011 - 10:51 am
I happen to live in the Bushland Shire of Sydney and have had many years dealing with this council over many trees both within my property and on the adjoining council/national parks managed land.
Had 2 x 100+ foot high native trees within 3 metres of house slab and had them cut down without acquiring permission as it was legal to do so.
Had another 100+ foot high native tree within 6 metres of house slab removed after much debacle with council tree preservation officer.
Similar scenario, had termite infestation due to flooding stormwater from neighbouring property. To rectify the situation, had to re-landscape and install new driveway with drainage pits etc. The problem tree was interfering in every aspect of the rectification process and designated area.
After applying to council. They totally rejected the removal of tree. Had to employ a fully qualified Arborist to examine the tree and write a full report on it. They confirmed that the tree had borer in it and that it was an immediate threat to our property. The report cost several hundred dollars about 10 years ago.
An Arborist Report is your only hope, if the tree poses any dangers to life and/or house.
Had similar issues with trees overhanging our house from neighbouring council property and they did not hesitate to remove them completely and they were all protected natives.
Good luck. Council Tree Preservation Officers obviously don't live with such dangerous specimens standing over their own houses, otherwise they would be far more compassionate and understanding of the fear and dangers these monster native trees pose.