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  • Profile photo of ChizChiz
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    @chiz
    Join Date: 2008
    Post Count: 70
    April 29, 2010 - 1:34 pm

    I’m going to be there. Really looking forward to it. Wish I could arrange kids to be looked after so my wife could come too.

    Profile photo of ChizChiz
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    @chiz
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    April 29, 2010 - 1:28 pm

    Agreed. Excellent writer – very funny…and I agree with this100%:

    If you can’t afford to have it done professionally, you can’t afford it.

    Profile photo of ChizChiz
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    @chiz
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    April 19, 2010 - 12:06 pm

    Sasha,

    Still can’t find them (dang – I’m having a bad day).

    What is their web site please?

    (I just thought they sounded useful and might use them one day)

    Thanks,

    Profile photo of ChizChiz
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    @chiz
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    Post Count: 70
    April 19, 2010 - 3:05 am

    Sasha,

    Thanks for the post. Could you please post more details of PnP as Google couldn’t find them :) Thanks

    Profile photo of ChizChiz
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    @chiz
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    April 17, 2010 - 4:32 am

    Sorry, what do you mean you can leave 20% to the right purchaser?

    Profile photo of ChizChiz
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    @chiz
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    Post Count: 70
    April 12, 2010 - 2:54 am

    I like idea of investing in NZ property but I don’t like the idea of buying in my own name – goes against the “don’t own anything but control everything” principle of asset protection.

    Has anyone found a way for Aussie investors to protect their assets in NZ?

    Thanks for all the great info everyone…

    Profile photo of ChizChiz
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    @chiz
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    April 12, 2010 - 2:43 am

    If you’ve found a project that will work but don’t have the equity / cash flow then maybe look for a business partner who can help you out.

    Profile photo of ChizChiz
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    @chiz
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    April 9, 2010 - 11:17 pm

    Thanks Josh,

    Lots of useful information there. The most useful thing you’ve told me is that although NZ does not have CGT, you still pay CGT to Australian government (tax systems always get you in the end :) ). But even worse, if you make a loss (cash flow negative) the loss is quarantined so you can’t claim it here in Australia!

    Hmmm.

    Do you know this from experience (got overseas properties?) or are you in legal / accounts / tax ?

    Thanks again.

    Profile photo of ChizChiz
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    @chiz
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    March 29, 2010 - 2:35 am

    Just a thought: Ask your tenants of they’d like to buy the property from you on vendor finance terms. You’ll save on sale costs and may make something on interest rate.

    Profile photo of ChizChiz
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    @chiz
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    March 18, 2010 - 11:30 am

    Terryw,

    Do you mean the PIT (Property Investment Trust)? Will the PIT survive an ATO audio?

    No idea. I not an accountant, or lawyer I just read a book which was written 2009 by two accountants which seemed to be pointing me in the direction of a PIT. My next step is: I’m going to seek professional advice about trusts (including the PIT) before starting to invest.

    BTW: I live in Melbourne so not sure if its different in VIC…

    Cheers,

    Profile photo of ChizChiz
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    @chiz
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    March 18, 2010 - 9:54 am
    YoungInvestor wrote:
    Oh but wait… the property market might have crashed by then!?

    Google Maps may have crashed by then too!

    ;)

    Profile photo of ChizChiz
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    @chiz
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    March 18, 2010 - 3:13 am

    PM = “Private Message”

    Click on “christianb” (in the blue strip above his post), then click “View Public Profile”. Then click on “Send Private Message”

    :)

    Profile photo of ChizChiz
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    @chiz
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    March 17, 2010 - 2:01 am

    “How to legally reduce you tax (2009 to 2010 edition)” by Tony Melvin & Ed Chan
    Reviewed: Jan 2010
    Rating 9 (out of 10)

    80% about trusts but also about what you can and can’t claim as a property investor (it’s excellent book). Its a MUST read if you are setting up a trust structure. Reads really easily even though its a relatively dull subject.

    Compares the pros and cons of all types of trusts (there are 11 main categories).

    Profile photo of ChizChiz
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    @chiz
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    March 17, 2010 - 1:21 am

    Same echo from me. Great idea! Thanks. I’m happy to read and provide feedback.

    Profile photo of ChizChiz
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    @chiz
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    March 16, 2010 - 11:58 am

    Ah ha. I’m still learning (as expected).

    Don’t want to hijack this thread but do you know anything about the Property Investment Trust? (is there another thread on this subject)

    Profile photo of ChizChiz
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    @chiz
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    March 16, 2010 - 11:01 am

    As I said, I’m not an accountant or lawyer (just reading a book written by accountants – see book reference earlier)

    The only thing about a testamentary trust is that it “quaranteen” any losses you make (means that if your properties make any losses you can’t claim them until they make a profit – so if your strategy includes negative gearing, you can’t claim tax on the loss until it becomes CF+).

    According the the table on p112, this also applies to Family, Discretionary, Testamentary, Capital Vested, Child Maintenance and Self Managed Super fund trusts.

    Does NOT apply to Unit, Hybrid, Bare and Property Investor trusts (but these have other pros and cons).

    Great book – read it and find out (shame I’m not on commission!) and then check with someone qualified !!

    Profile photo of ChizChiz
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    @chiz
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    March 16, 2010 - 7:42 am

    Also look into setting up a Ltd company.

    Company is set up as trustee of the trust. The trust buys your investments. You (and others in your family) are the beneficiaries of the trust. You are also the company director (along with wife/partner). If you die there is no change to anything (wife/partner are still beneficiaries). The company is controlled by wife and the so she indirect controls the trust and therefore who gets the profits generated in the trust.

    More details in the book I referenced above.

    Profile photo of ChizChiz
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    @chiz
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    March 16, 2010 - 2:35 am

    Just found a “what is Google sketchup” video…

    Overview
    http://www.youtube.com/watch?v=nwxfOW2TP9E&feature=player_embedded

    How to draw a house:
    http://www.youtube.com/watch?v=lTycE25eV4c&feature=fvw

    Profile photo of ChizChiz
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    @chiz
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    Post Count: 70
    March 16, 2010 - 1:56 am
    roseagain wrote:
    Hi,
    I am just new at all of this and haven't even bought a property yet.  However, I believe that you can claim the cost of the seminar on your tax.
    Just my 2 cents worth,
    Roseagain.

    I believe you are right – but only if you have an income relating to the expense your claiming. In other words if you do a property reno course you can only claim it if you have an income coming from something relating to property. So if you bought a digital camera, you can’t claim it unless you have an income coming from photography.

    Profile photo of ChizChiz
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    @chiz
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    Post Count: 70
    March 15, 2010 - 12:16 pm

    Hi,

    I’m really interested too. Email sent to [email protected]

    Thanks,

Viewing 20 posts - 21 through 40 (of 55 total)
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