Steve,I second Mikeking's post above. I didn't mean to be rude… on the contrary, I am very very curious to learn.Looking forward to hearing Steve's comments,Cattleya.

Hi there…I also read Steve's book a long time ago and thought it was .. basically, crap. Sorry Steve…. I understand that Steve probably uses a lot trusts like Trakka said. But isn't that illegal? I mean, he gets lots of loans without declaring all his financial liabilities. Way too risky / daring for somebody like me. So while this method…[Read more]

All, …. given this discussion is not answering Sitting on the Fence's original questions, this is my last post on this. Promise. I maybe a young romantic who's full of nothing but ideals. However, can I please ask why you (maybe seank??) think it's not fair.When you stay at home (house husbands as well as housewives) looking after your kids, do…[Read more]

Seank,Sorry to say this, your friend is not protected. The lawyers can correct me on this but my understanding is the Court can <take a deep breath> go back to all transfer of assets during the past 3 years <not sure but 3 I think is the minimum, can go back further than 3> and assess whether they were done to obscure ownership, to hide them fr…[Read more]

Hi Misty,Buyer solicitor usually organises the payments. So the steps are:1. X (buyer) gives his account number (where X's deposit is) to his solicitor. 2. Buyer solicitor organises what money goes where as per Vendor Solicitor's instructions. See Richard's response above.3. Vendor solicitor goes to Bank1 (where the old mortgage is) to pick up th…[Read more]

 <<lol>>Sitting on the Fence, you may want to tell your son to reconsider.  Even a prenuptial agreement is not watertight – example is K Fed and Britney whose prenup was said to be VERY watertight. And Britney does have the resources to hire the best lawyers to draft the prenup.Another option is to put everything, or at least half, under your na…[Read more]

Hi Anny,Before I and everybody else say what we think of your investment, please follow your heart. You knew it was the right decision, whatever everybody else says cannot change the fact that it is yours and it is best to stick with it for at least a year, possibly even longer.First, it is important to find as much tax deductible expenses as…[Read more]

Da Man,I think what you need is a personal banker who is your only contact point for all inquiries and banking arrangement. They usually require you have lots of money… and I mean lots of it. Westpac has a program similar to personal banking but for individuals with less money. I don't know what the requirements are but I suspect (mind you, th…[Read more]

CGT is calculated pro-rata to how long it's tenanted.Hold: 18 months.PPOR: 13 monthsTenanted: 5 months.taxable net profit from property sale: 50k.Cgt is calculated as : $50k x 50% x (5/18) x your tax rateCheers,Cattleya

Sitting on the Fence, sorry… this discussion is not on your concerns anymore. I just can't resist one more post.With all due respect to all single boys of all ages out there (including Milly?) what would it take to convince you that a girl is not a gold digger? If she has more assets than you? Chances are she / her family thinks you're a gold…[Read more]

Hi,I read this and I thought you'd be interested. It's got fancy graphs, statistics and much more meat – it's a 36 page document. Retail Outlook: A Strong 2007 A strong year for retail despite higher interest rates.  More tightening coming through. So far consumers are continuing to show resilience. Policy levers at loggerheads Monetary t…[Read more]

Hi, this comment is probably too late, but I thought I'll put things into the big picture.1. All assets prior to marriage or de facto relationship are not claimable by the spouse.2. After 2 years of living together, the relationship is automatically de facto relationship. This means the spouse's entitlements are similar to those of married…[Read more]

Hi Steve,I have not been looking at other options simply because my existing banking arrangement is already very convenient with all direct debits and credits already in place and all accounts are in the same bank…, very convenient. The loans have redraw facility which I can do myself over the net, anytime. Also I get 0.7% off standard variable…[Read more]

Nicole,Your CGT would be:+ Sale price – selling expenses ie. legal & Real Estate agent fees – all renovation expenses that has not been claimed as tax deductions – expenses you incurred when you purchased the property ie. stamp duty, mortgage duty, legal cost, conveyancer fee, etc.- all other expenses you have not claim.x 0.5 (this is because only…[Read more]

Hi Chook77,50% CGT discount is only after you have hold the property for 1 year.0% CGT is for your principal place of residence. The other experts can correct me on this, but you can claim PPOR to a property even if you are renting somewhere else. Kind regards,Cattleya

All, thank you for responding.I know I may have bitten more than I can chew, but house prices in Sydney – where we want to live in the future – is crazy. A friend of mine urged me to just jump into it and tighten the belt for a few years. He is in much the same situation. Hopefully things will get better…  Yes Marc, I'm saving and paying off re…[Read more]

Hi Trustie,I am answering this from my own perspective using details you provided. Hope this provides you with a different perspective to view your situation.1. Without considering any factors like love / trust to my kids, etc. I am reluctant to go into any dealings that, if fails, would severely impact my survival in retirement. There's plenty of…[Read more]

Thanx Bruxism and Marc,Further info on my income is:Monthly disposable income (net of cost of living)  is 5400Monthly IP net income (for 3 IPs) is 4800Monthly interest for 2 IP is 6500Monthly interest for the other property should be around 1900, but I don't have to pay this until July.I know the numbers say my IP income covers only 57% of my…[Read more]