Forum Replies Created
Can anyone recommend “Strategic Property Management Services”?
Thanks ten_burner and daves2074. I’m thinking a company that just specializes in property mgt might be the way to go.
daves2074, all three of your posts have recommended Michelle Galletti from Just Rent Sydney. Do you want to declare what your interest is in this?
Cheers,
David
Hi Richard,
It is a concern. The increasing complexity of the Australian taxation system means that on one side you have a huge bureaucracy full of… time serving bureaucrats of mediocre intelligence. On the other side an army of tax professionals and accountants and investment advisers all seeking ways to minimize or avoid tax. Or even simply to work out what tax is due. A gigantic waste of labour and talent.
I imagine it would be a huge boost to the economy to truly simplify the tax code.
Cheers,
David
Thanks Richard,
That’s very clear. They are separate accounts, one a savings account and one an investment loan. I’ve just changed the investment loan to a “Rocket” loan (Westpac) and whatever’s in the savings account offsets the rocket loan.
I did call the ATO and after speaking to 3 people (going higher up the advice chain) the ATO guy felt that whatever amount is in the offset account would mean the investment loan it is linked to would, for tax purposes, be forever diminished by that amount. But he wasn’t sure and he said to email them to get a ruling. But I think it’s clearly not the case.
Cheers,
David
