It is worth setting up an Excel Spreadsheet that contains all the income and expenses for your property, with the expenses set out exactly the same as in the e-tax screens, or Tax Pack. Make sure (on a separate worksheet) you set up a depreciation schedule as well, and import the results to your main page. Definitely engage a Quantity Surveyor to…[Read more]

Angela asked: I was wondering what BWO is?Building Write Off – a depreciation allowance of the capital cost of the building itself and some prime-cost items (not related to furniture and fittings), and either 2.5% pa for 40 years, or 4.0% pa for 25 years, depending on the type of building it is. You need a Quantity Surveyor to complete a D…[Read more]

Three posts in a row is at least one too many, Eric. Please don't thank me for my reply!

She might do better to resolve it with the de facto (like kick him out) rather than give up her share of the property. Apart from the stamp duty that will be incurred (some thousands), she gives up her interest in it. How can she trust you and the brother?

You say you would prefer the south or southeast of Melbourne. Can you say why? Virtually all of the resources of the city are north+west of the Yarra River – commerce, entertainment, transport, hospitals, education, shopping, arts, etc – very few of these are out south or southeast. There isn't really a commercial hub out there (Frankston,…[Read more]