Forum Replies Created
Hi Boshie,
Apparently you can rent out your PPoR for up to 6 years without being exposed to capital gain for that period.
Provided you havn't bought and lived at another house which you nominate as your PPoR.
Ring ATO 132861 8am to 6pm.
I think the income is assessable in the names of the owners, but you can offset it with exps such as rates, insurance, agent fees, gardening etc.
Once again the online ATO website can provide you with publications with regards to what you can claim whilst the property is being rented out.
Regards
Hi Boshie,
Apparently you can rent out your PPoR for up to 6 years without being exposed to capital gain for that period.
Provided you havn't bought and lived at another house which you nominate as your PPoR.
Ring ATO 132861 8am to 6pm.
I think the income is assessable in the names of the owners, but you can offset it with exps such as rates, insurance, agent fees, gardening etc.
Once again the online ATO website can provide you with publications with regards to what you can claim whilst the property is being rented out.
Regards
I have made multiple offers, and then wait to see how many (if any get an acceptance).
Remember nothing is legally binding until you sign the contract.
So stall if you have to, until you get a response to all of the offers that you have out there.
You might get a couple of R E agents offside, big deal they're not the ones that have to service a 30 year loan.
AND remember, they just want to sell, so it's not as though they will black list you in future.
And if they fail to take a legitimate offer to their client – you can report them to the respective R E I of the State.
Remember we're in the game to win on ourselves and our family.
The sweetener has always been that if I eventually secure a purchase via the agent I give them a verbal agreement that
they get to re-sell the renovated or sub-divided property in the future.
Usually works a gem.
Regards
Hi Steve,
2013
1. I would like to introduce my little brother to Ruth.
2. Finish the three renos I have on the go before February.
3. Over Summer spend time with family and friends on the beach or just goofing off.
4. Put your advice into practice, smash the jar, freeing my hand so that I can grab life's other rewards outside of 9 to 5.
Les
Check out Lincoln Holland FP CPA against the check list.
He is located in Lillydale VIC.
He is a fully licensed FP and practising accountant.
Which means he can independently select which ever product he deems appropriate for his clients risk stategy.
Tipped all of his clients out of international equities 2 years ago, and has doubled their returns.
RMIT alumni (same as Steve McKnight the Chairman).
Ex FT member of staff, Dept of Business RMIT (Awarded most popular lecturer from students)
Lincoln is the real deal.
Has no experience with property – that's where the Chairman comes in.
callmeLes
Hi Geddo,
Assuming that the house you R moving to is a rental!
Just remember, you are able to claim MRS unit as your PPOR (Both of you) for up to 6 years.
If you moer back in temporarily, you restart the PPOR clock again, for another 6 years.
AND no you cannot claim deductions for a property of which you do not have your name on title.
The gap in skills (property) knowledge between FP's and Acct's is one that we have all come up against from time to time.
What you do to overcome this is to continue learning as much as you can from Forum's like that & Steve's seminars and books.
Never give up, keep up the passion by refueling and servicing your tank courtesy of Ziggy Ziglar< may he R I P.
You will soon discover that YOU have created yourself as a bridge to span the skills gulf that exists between your FP & Accountant. Nearly all other investors could probably attest to having suffered from the same experience.
Geddo, you & family (congratulations) have done wonderfully well to date. There is no doubt in my mind that a decade from now you'll be a guest speaker at some property seminar, where you will relate some of your experiences to a new batch of wanna be investors.
Read, learn, attend seminars, muck up, fall down, get up, dust yourself off and continue your journey.
I predict that in that same decade some of your friends and family will be feting you as their inspiration for having set them on the path to financial freedom.
Enjoy the journey.
Best
callmeLes
HI,
I have three in Norlane.
The area is taking off.
Hang on to your hat.
Google Norlane which will show you the amount of capital infrastructure and building projects underway between State & Fedaral & local Jurisdictions.
Best
allmeLes
Zim needs more than the election result sorted out. The country is a basket case.
Don't kmow much about SA excepts that there appears to be more bad news rather than god emanating ouuta there.
I'm not up to scratch with expats & the amount of cash that you can take outta SA but believe that there are limits SOOooo why pour money into an investment property that you may well never be able to withdraw your hard earned readiews from???Guys/Gals look around the World, there's gotta be more stable economies with great deals simply to be found.
Am off to Slovakia, Hungary & the Czech Republic for 2 months. Will report on what I uncover there.callmeLes
