Hi Tania,Just sent you a PM.

Great first post. We seem to be getting a few of these lately…

mortgagedetective wrote:

Dan42 wrote:
If you took the rebates as cash, the value would be much, much less.

Gidday Dan42Some brokers direct deposit to your loan on a monthly basis unless otherwise directed so it is as close to cash as you can get.It's probably fairer and perhaps more accurate to say if you redraw the cash from the loan…[Read more]

whoper123 wrote:
Hi Michael,Just wondering if the saving is 30k in today's term, simply by choosing a different type of agent, how come it is not a well known strategy? I have never known this. The extra skill /service is definitely not worth 30k to me. To simply prove the point, I can use a moron agent, and pay an accountant 10k to fool prove…[Read more]

eloi wrote:
but unfortunatly the bubble has to pop some time and australia wont be any different to the rest of the world. If it doesnt pop not it will in 1 year but even worse if not in 1 year then 2 years but even worse that 1 year and so on and so on. it has to pop because its unrealistic and based on false numbers.

Firstly, a bubble does…[Read more]

FrugalOne wrote:
If I was to purchase a property purely for investment purposes, and it was purchased outright for say $100000, would I recieve the tax proportion of the $100000 back as a tax deduction?

No. The outright purchase is a capital cost and not deductible against rent or other income. The purchase price forms the cost base for capital…[Read more]

Here's my prediction – one economist will say we are in for higher interesta rates and inflation. Another economist will predict we are in for a recession, high unemployment and lower interest rates. Economists predictions are varied, I wouldn't concern yourself with them too much. I personally love Ronald Reagans advise, that there should be…[Read more]

House Call wrote:
We have since bought an IP in the same suburb which will have an income.  Would that change things?

Buying a different house is – unfortunately – irrelevent for tax purposes. The costs incurred in purchasing an investment property, such as building inspections and conveyancers costs etc, are capital in nature and not de…[Read more]

eloi wrote:
hey freeenterprise can you please explain why there is new unsold properties in sydney, perth, brisbane, gold coast. if its like you  say that we have an undersupply of property by %1 then why do we have these unsold brand new apartments and houses. im baffled by this because if there is an undersupply then we would not have one…[Read more]

wafti123 wrote:
Thanks guys, I was wondering that if you don't change your mailing address, how can you prove to the ATO that you were absent from your PPOR. It seems that there is nothing stopping someone from saying that they moved out for a short time to claim the CGT exemption while actually living in their PPOR. Dan

Do you mean if you are…[Read more]

wafti123 wrote:
Hi Kris, that is a great answer, thanks. I am not going to buy another property. I was thinking of boarding with my folks or renting somewhere closer to work so that I can cycle to work while my car is out of order. Finding tenants isn't too hard as my friend has already expressed interest. I am able to collect my mail from my…[Read more]

eloi wrote:
. Australia has an oversupply of properties and the latest numbers just prove it. here is the link to the articlehttp://www.crikey.com.au/2010/07/12/housing-shortage-myth-keeps-bubble-talk-on-the-agenda/

I've read the article twice and fail to see the 'proof' that Australia has an oversupply. Just because rents haven't risen does…[Read more]

eloi wrote:
hey hans what was the name of the four corners program. your link doesnt take me there and i can not find it anywhere else.

It's called 'Overdose'.

Ditto about the caps lock. What sort of lease does the office building have? For how long?As Terry said, getting finance will be an issue as a casual.

Yes, it was a scary episode. My dad rang his financial planner to discus options for retirement in the days after the episode aired. The FP said, "Did you see Four Corners, too?" He had been inundated with people worried about their super.Banker, I agree. At some stage in the future, the debt has to be repaid, and stimulus measures can not go on…[Read more]

Corie wrote:
Also if there is no defined amount of time you have to live in a property for it to become your PPR how does it qualify as your PPR.

There are a couple of tests to determine if it is your PPOR. Have you connected the electricity, gas, phone in your own name? Have you changed your address on the electoral roll, and your drivers…[Read more]

ninjatunes wrote:
Ok thanks for that, how also would i get started, once i add up all the out of pocket negative gearing tax so that i can receive the deductions now instead of at the end of the year?

You can apply for a PAYG withholding variation form, so that your employer deducts less tax from your salary.

I'd say something has been lost in translation.If it is being rented out in the future, the maximum CGT that can be avoided is 6 years, as long as your friend does not have another PPOR at the same time. As Terry says, your friend can move back in before the end of the six year period, and this re-triggers the 6 year rule. The '6 months' would b…[Read more]

Hi,1) – Landlord Insurance isn't much, $400-$500 a year, plus we get a discount on our insurance because it is managed by an agent. For a first timer, I'd put it through an agent, because the agent will also know the laws in relation to the tenancy.2) Depends on your tax rate. The rental loss reduces your taxable income. Say you earn $50,000 a…[Read more]

Hi Steve, Generally, with a 95% loan, you will need 5% of the purchase price, plus costs. I'll leave teh other questions to the finance gurus.