crj replied to the topic Solutions for a Deposit? in the forum Help Needed! 15 years ago
If you have a SMSF you might be able to gear a property through that.If you are wanting to take money out of the super fund for a property you are buying outside the SMSF as a general rule no. There may be exceptions based on whether you are entitled to withdraw superannuation eg your age, work status.
crj replied to the topic Small scale Buying/Renovating/Selling in the forum Value Adding 15 years ago
Flipping generally needs very favourable market conditions or a purchase from a desperate vendor
crj replied to the topic farm close to subdivision-asset or liability? in the forum Help Needed! 15 years ago
If you look at the Act a cursory glance indicates that there might be a possibility of an exemption for up to 6 years as a PPOR if you do not own and live in another property. Suggest you talk to someone expert in land tax outside the Land Tax office
crj replied to the topic Nearing retirement and wanting to first time invest in property in the forum Help Needed! 15 years ago
Try Stuart Wemyss. I have not used him but he is a financial planner interested in property. He has a couple of books out – the Property Puzzle is his latest
crj replied to the topic Losing government housing if we go local in the forum Help Needed! 15 years ago
You would need to look at the exact wording of the policy and get specific advice. The policy may also reflect Fringe Benefits tax requirements for your employer.
crj replied to the topic Advice needed: Partnering up with a stranger for the sole purpose of buying a house in the forum Help Needed! 15 years ago
What's your exit strategy? This may work as a pure investment strategy, but with you both living in it what if you get on each other's nerves.
crj replied to the topic Buying Deceased Estate in the forum General Property 15 years ago
What's the problem if the person passed away in the house? Your solicitor should be able to ask the vendor's solicitor where the probate application is up to.
crj replied to the topic Rent increase on negatively geared property in the forum You’re making a loss so that 15 years ago
You're making a loss so that after tax 60-70c in every dollar is still coming out of your pocket. Why are you into IPs. If it is just for tax losses do osmething else like salary sacrifice into superannuation. Once your property becomes neutral or positive you don't sell, you buy an additional property which you can put $60 a week into
crj replied to the topic Finance question in the forum Finance 15 years ago
Can they get a deposit bond?
crj replied to the topic beneficiaries of discretionary trust in the forum Legal & Accounting 15 years ago
Yes to all your questions. Because the life of the trust can be 80 years you might want to include remoter descendants than your children eg grandchildren etc
crj replied to the topic Land convenant in the forum Legal & Accounting 15 years ago
Have you settled?
crj replied to the topic CGT on subdivision in the forum General Property 15 years, 1 month ago
ladybird wrote:
I was reading an article in the AFR from a few weeks ago. It stated that if you subdivide a property that is your PPOR and sell off a subdivision, you will pay CGT on that sale if that subdivision doesn't include your PPOR. Can anyone confirm if that is correct? My wife and I bought a property 4 years ago that is zoned R60 and…[Read more]crj replied to the topic Can’t Settle in the forum Legal & Accounting 15 years, 1 month ago
Issue the notice to complete and then if settlement does not take place issue proceedings for specific performance ie a court orderr that the Vendor is to transfer the property to you under the contract
crj replied to the topic Capital Gains on Foreign income in the forum Overseas Deals 15 years, 1 month ago
http://www.ato.gov.au/content/downloads/NAT14233_06.pdfPossibly if you had bought in NZ before becoming a tax resident of Australia your cost base might be the value at the time you entered Australia http://www.ato.gov.au/corporate/content.asp?doc=/content/64155.htmAs you would have been declaring the income in your tax return there will be a red…[Read more]
crj replied to the topic Capital Gains on Foreign income in the forum Overseas Deals 15 years, 1 month ago
Did you have the IP before you became an Australian resident?
crj replied to the topic help with land measurement and insurance in the forum Legal & Accounting 15 years, 1 month ago
In NSW if you are being allowed into occupation before settlement the insurance risk passes to you. One reason to consider taking out insurance earlier than settlement is the insurance companies often will not put the cover into effect for say 72 hours in bushfire or hail seasonsYes your title is guaranteed, but how do you know the house etc is…[Read more]
crj replied to the topic Profits eaten by tax? in the forum Legal & Accounting 15 years, 1 month ago
I'm sure the taxation office will be happy to accept your declaration that you are a developer and tax you accordingly. But, with respect I don't think you're grasping the point several of us are making. Possibly if we use some figures it might be clearer.Let's say your development gives you a profit of $50K for each side – total $100KNon d…[Read more]
crj replied to the topic Tenant background in the forum Help Needed! 15 years, 1 month ago
Criminal background for what? I had a tenant who'd done time for social security fraud. No problems
crj replied to the topic Queensland Property – NRAS – Legal side help in the forum Help Needed! 15 years, 1 month ago
Get your lawyer to go through it with a fine toothcomb. From memory there were some articles in Australian Property Investment showing that strict compliance is necessary in Queensland
crj replied to the topic Net penny stocks: getting paid $500 a week!? in the forum Opinionated! 15 years, 1 month ago
Is your name Cameron Ponzi? Nice piece of self-promotion.
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