Originally posted by masteraccountants:
Hi landlordtobe,

You might be worrying needlessly.

Your investment in New Zealand comes under the double tax agreement between the two countries.

The country where the income-producing asset is located is the source country so is entitled to tax in the first instance.

Even if the property is making a…[Read more]

Hi Jason,

As Terry said check with your own accountant first but it generally would be. However I couldn’t see you getting a better return out of a term deposit than the interest rate on the loan, therefore costing you money in the long term. Make sure the return you expect on the investment is at least 1% better (if not more) than the interest…[Read more]

2 1/2k is pretty steep we set them up for our clients with Family or Hybrid trusts for just under 2k. Located in Newcastle.

Carlyle

Hi Kit Kat,

I would suggest speaking to your accountant first of all.

Without knowing your full situation some general advice is that you may be better treating any payments from your family as board meaning it is tax free and probably won’t affect your FHOG. Again best to check with FHOG. Saying that as it is tax free you cannot claim your…[Read more]

Agree with Terry, ownership is what counts not whose name is on the loan.

Carlyle Cousins
Incentive Business Accountants
http://www.incentiveaccountants.com.au

Thanks Robert,

Currently with the NAB on a house I own 2/5’s. I am looking to buy the remaining 3/5’s and the NAB have approved the loan however want mortgage insurance as I need to borrow roughly 92-95% of the value.

Bells and whistles I can compromise on, I don’t want to pay MI as I see it as dead money.

Carlyle Cousins
Incentive Business…[Read more]

Buyers agents fees are a relatively new expense in relation to purchasing IP’s and have not been specifically mentioned by ATO. However I would see them as being non-deductible but able to be added to the cost base for CGT purposes also non-depreciable as they are not an asset. Reasoning would be that the expense in not necessarily incurred in…[Read more]

Hi Jason,

I’m an accountant in the Newcastle area (office in town) and our practice is very much in favour of IPs. We have many clients with them and also have set up various structures within the firm to invest in property ourselves. Please feel free to look at our website below and give me a call for a free 30 minute obligation free meeting if…[Read more]