Hello Ash,

Yes, certinly no FIRB is required.

However, when calculating figures for yor property, keep in mind that you will be taxed at non resident rates.

Also, look into financing the home from abroad. It usually requires a 20% deposit, but a good broker can assist more with this.

David Femia

Femia Property Group
Property Investment…[Read more]

Hello Shelly,

I hope I have understood correctly, but if you are just selling the first property,(which is your PPOR/primary place of residence), then no capital gains tax is payable. This is in existence as that property was not used to create income.

Hope that hit the nail on the head.

David Femia

Femia Property Group
Property Investment…[Read more]

Hello Alana

You will find TR 2000/18 useful. It has a list of the depreciating assets, and their effective lives.

Its a lengthy ruling (75 pages), but it should assist with your query.

David Femia

Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.au

Kavita,

In terms of CGT, it will just mean that you need to apportion the CGT payable based on the time the asset was used for income producing purposes, and the time it was used as your primary place of residence.

A basic example is, you have it for 10 years, you live in it for 1 year, then CGT is apportioned and payable on 90% of the gain. You…[Read more]

Hello Vluu,

Deppro do a great job. Your on the right track by looking for a QS. They can save you hundreds.

David Femia

Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.au

Hello Nicole,

As a general rule, never borrow to the point that a raise in interest rates, can severely affect your repayment ability. Always factor in a buffer zone.

David Femia

Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.au

Hello,

At the end of the day, if you can substantiate yor claims, then you really have nothing to worry about.

David Femia

Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.au

Hello David,

It all depends on where you see yourself in the future.

However, its best to have a solid foundation to build your investments upon. This is why I would suggest owning your own home is paramount.

David Femia

Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.au

Hello Paul,

Options are generally granted through developers, whilst the property is being built. Ownership doesnt change until settlement.

The form simply entitles you to buy the property at the set price. It is essentially reserved for you, but is not a contract to buy.

As these are issued early on in the development propcess, you will find…[Read more]

Hi Mark,

Some banks have stopped lending on these all together, due to the associated risk.

Take a close look at the management contract also. When selling, some will stipulate that the new owner will need to undertake the same agreement with the managers.

David Femia

Femia Property Group
Property Investment…[Read more]

Hello Boothy,

There was a recent discussion on this that you may want to look up. My opinion is North without a doubt.

David Femia

Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.au

Hello Matt,

Based on what I have read, you are not out to buy all three, you are just concerned that something may be wrong as they are all on the market.

If this is the case, focus on the one you want, and only the one you want.

The type of expenses you should consider are:
strata/body corp fees
Shire rates
Water Rates
Land tax
Property…[Read more]

Good Advice Stu

David Femia

Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.au

Perhaps you can have a win win situation by increasing the rent once the renovations are done.

David Femia

Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.au

A discretionary trust will be a far better alternative.

Thsi will allow you to claim the same benefits as an indiviual with Capital Gains Tax. It will also allow you to minimise tax legally, and efficiently.

David Femia

Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.au

Hello,

You will find that the SRD is mainly concerned with your eligibility to have the grant, rather than policing your PPOR.

The act doesnt stipulate the amount of time that you must live in the home, it simply says that you must occupy it.

I would live in it for the first two months, and then rent it out thereafter. This will save you…[Read more]

Sounds great Smithers. Always happy to help.

David Femia

Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.au

Hi Maveroc,

I beleive these are capital costs, and can therfore be added to your cost base. This will reduce the effects of a capital gain once the property is sold.

David Femia

Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.au

Hello Smithers,

The strata managers generally look after the common property in such buildings. Their prices depend on the maintenance required, and the facilities provided. That is, does it have a pool, gym etc.
You will also find that the strata fees generally include building insurance. This will of course depend on the original…[Read more]

Hello Smithers,

Deppro may be of some use to you.

http://www.deppro.com

David Femia

Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.au