Forum Replies Created
Thanks Jamie.
i also use excel and have some pretty detailed spreadsheets which I update as I go. I also now use Receipt2Go on the iPhone which inputs all expenses and allows scanning of receipts which is helpful.
I am just looking for a program that will produce reports for my accountant, accept imports from my banking transactions etc.
has anyone had experience with Quickbooks and possibly an investment medium of Quickbooks?
thanks
Thanks Terry.
Point 2 – Ability to sell units without changing title or stamp duty ….
Would this allow me to transfer them out of my sole name into a unit trust without paying stamp duty (3 properties re in WA and 1 in Vic).
If so would this then allow me to disperse the income to others within the trust?
i have sent you an email so will more than likely discuss this further soon.
Thanks
Thanks Darryl.
All my properties except one are in WA but I am always keen no invest wherever the potential is. The information re NSW is helpful and I definitely keep that in mind if investing there.
Do you know if there is any way to change ownership of my current properties into a DT without paying stamp duty ….. my death not being an option
Is it difficult to set up a DT and what are the ongoing associated costs?
Thanks
kateej03 wrote:BradW wrote:I have just invested in Derby, Western Australia. Inpex was proposed previously as being based there and as everyone knows this is now being piped to Darwin. Growth in Derby is still going strong based on Govt services that are being relocated and also the new 150 million dollar prison being constructed. My tip is if the state govt is moving resources there then others will follow. Government services are leasing 5yr plus 5yr options at an average of $1000/ week and still there is massive demand for houses/units. Derby still has the chatter about the deep water port at Point Torment that was pushed by the premier and knocked back by Inpex but with the issues at James Price Point near Broome is highlighting Point Torment as one of the favored locations after feasibility studies by the state and federal governments. There is also talk of relocating some defence infrastructure to protect the LNG resources in the Browse Basin. Curtin Detention centre is also a major contributor to the town economy and is still full of people seeking asylum. Ther Immigration Minister claims that Curtin will be the first detention centre to go however a 9 million dollar central kitchen has just been completed. Worth a look and for any investor wishing to take the risk in a mining/remote service town. Keep up the talk as it is great to hear everyone's thoughts. BradHi Brad,
I've been looking in Derby for quite a while now and am definately going to buy something there within the next couple of months. Are you based in Perth? If so how did you find the process with the agents there? Is there anyone you would recommend to go through?
Thanks,
Kate
Hi Kate,
I live in the NW of WA and went directly through a property developer. I found a unit which met my criteria and it was under contract then became available due to the sale falling through so i grabbed it. A second identical unit also became available so i grabbed that as well.
The transactions were hassle free. I used a settlement agent from Broome and the strata company is also linked in with the settlement agent so all processes were very smooth.
Good luck
Brad
MJP, what was the outcome of this?
Thanks Terry.
When you say 10% of the sale price do you mean the sale price of the property? I will follow this up with my accountant but it would be interesting how CGT applies if 10% is also applied.
Thanks
I have just invested in Derby, Western Australia. Inpex was proposed previously as being based there and as everyone knows this is now being piped to Darwin.
Growth in Derby is still going strong based on Govt services that are being relocated and also the new 150 million dollar prison being constructed. My tip is if the state govt is moving resources there then others will follow.
Government services are leasing 5yr plus 5yr options at an average of $1000/ week and still there is massive demand for houses/units.
Derby still has the chatter about the deep water port at Point Torment that was pushed by the premier and knocked back by Inpex but with the issues at James Price Point near Broome is highlighting Point Torment as one of the favored locations after feasibility studies by the state and federal governments.
There is also talk of relocating some defence infrastructure to protect the LNG resources in the Browse Basin.
Curtin Detention centre is also a major contributor to the town economy and is still full of people seeking asylum. Ther Immigration Minister claims that Curtin will be the first detention centre to go however a 9 million dollar central kitchen has just been completed.
Worth a look and for any investor wishing to take the risk in a mining/remote service town.
Keep up the talk as it is great to hear everyone’s thoughts.
Brad
Thanks Scott & Terry.
There are some benefits in the GST as was mentioned by Terry re the funds in the offset.
From this scenario can you foresee any issues when/if I sell the property with collecting GST?
Also, as I am registered for GST can I claim back any GST payments I have made for services or will this be included in the write off re repairs/maintenance to reduce taxable income.
Thanks
Brad
