Lavender Lily wrote:
As for how much do they charge, why not contact their office to find out?

Well, you said they "don't charge an arm and a leg", so I was hoping you could share with the community how much they did in fact charge you. Either you know how much they charge and won't tell the forum, or you don't know, and your previous post was…[Read more]

Lavender Lily wrote:
They don't charge an arm and a leg and one of your children, to go along to their meetings.  They hold your hand every step of the way.  So very important.  You don't feel like you are being ripped off.  They make investing fun and exciting for all age groups.  No one is to old.

How much do they charge?

Lavender Lily wrote:
Hi, I have bought 2 properties through the Discount Property Group and am now on to my third.  I have found that Dave and his team are always there to help you.  They are an amazing bunch of people who have helped make my property investing quite an adventure.  The Follow Me Chat Club was the beginning of my investing ad…[Read more]

The way I read it, you don't plan to rent out the property until your parents pass? The issue as I read it is that having a house that your mother is not living in may affect the pension. You would need to check with Centrelink and see if their PPOR is still classified as a PPOR if they aren't living there. As long as it isn't being rented while…[Read more]

You don't have to have a business name. Your loan and bank statements would show XX Pty Ltd ATF XX Family Trust. For what you are proposing, a business name would just be an added expense.

kum yin lau wrote:
Hi, there might be a way around it.Apparently, you can now borrow as an individual and lend it to your smsf. The rent [which your business pays] is used to pay the interest on the loan. If it's an undeducted contribution to smsf, the interest is probably not tax deductible.You might also be in a position to 'salary sacrifice'…[Read more]

Div 40 is regular depreciation – carpets, ovens, blinds etc.Div 43 is building depreciation.

Any subdivided blocks would be subject to CGT, as the main residence exemption only applies to dwellings. As there would be no house on the vacant block, you would be up for CGT when you sold. Up until the subdivision, the whole block was exempt, so the CGT cost base is the market value of the land at the time of subdivision.

What sort of assets are you looking to transfer out? If they are dpreciable assets, they would generally be sold at written down value, and therefore wouldn't incur any tax issues. If it is land or buildings, there may be a CGT issue, as these would need to be sold at an arms length value.

With a DT, the distributions are made at the total discretion of the trustee. Sure, you could organise that the trustee pay the profit distributions 80/20, but it would be much safer to have a Unit Trust where you own 80% of the units and your partner 20%. The service trust can also be set up as a Unit Trust., so you can own the units in line with…[Read more]

NAB will not pass any cut on to its customers.

Date you sign the contract for CGT, I'm afraid. I'm not sure about FHOG.

Stamp Duty won't be a deductible expense, but will add to the capital value of the property, and you've added depreciation instead of deducting it.For tax purposes on your estimates, the first year profit would be $8,800. If you received this income, the tax payable would be $4092 (at top marginal rate of 45% + 1.5% medicare levy)If distributed to…[Read more]

Interest deductibility is determined by what the loan amount is used for. If you used the redraw to borrow shares, interest would be deductible, but would be worked out as follows. In your example, lets say your home loan balance was $250,000 after your redraw. If you use that $100,000 to buy shares, the interest deduction on your home loan would…[Read more]

bfantastic wrote:
single person Bank calculated living expenses $13.344paNo debt no dependentsIncome $80,000pa GrossBench mark 8%max borrowing = $503,385

I don't disagree with the calculations, or the ability to get the loan, it just seems an awful lot to borrow on that income. My wife and I earn $150k between us, and have a mortgage of $400k,…[Read more]

god_of_money wrote:
I am going to WA for 2-year job contract. I might or might not be moving back again…..If I sell my 1st PPOR into my DFT, do I get an exemption of capital gain of PPOR if I am buying again in WA?

Yes, your WA PPOR would qualify for the main residence exemption.

bfantastic wrote:
OK what are your options?looking at property value between $370K – $380KIncome – $80K before tax.No depositGood work history Assuming PAYGclear credit.single no dependents borrow capicity at todays rate $500k

Is that right? someone on $80k can borrow $500,000? $80,000 after tax per month = $5063 (before any HECS…[Read more]

How long are you moving away for? Is it a temporary move? Can you see yourself moving back to your PPOR in Newcastle?If so, rent in WA and rent out your PPOR. As long as you are away from your PPOR less than 6 years, there will be no CGT when you sell. If not, have you considered selling the Newcastle home, and using the proceeds to start a i…[Read more]

If you just have a super pension that is not taxable, then it is not 'taxable income' so you wouldn't have to do a tax return. However you would need to lodge something with the ATo to show that further returns are not necessary, so they don't hassle you.

Kev, You really only need to see the accountant when you have your tax done, unless you have any other queries at the time of renting it out, like If you are unsure of what information you need to keep etc. Go to your accountant at tax time with a good summary of the expenses, plus your agent's statements. If you have a good summary, it will save…[Read more]