Forum Replies Created
Yes Pinit,
I agree with doogs, a great little summary. Just what we need.Sue [
]“Be careful not to step on the flowers when you’re reaching for the stars”
Hi Guys,
It’s me again, the one whose still learning, but still tries to answer questions anyway?Depreciation is a tax deduction on paper. You can claim depreciation through your employer in the form of a reduced amount a PAYE tax being taken from your pay. There is a form you need to fill out through the tax dept.
Depreciation (construction) is only available on houses built after 1985. You can also claim depreciation on some fixtures and fittings, such as furniture in the property.
I also have been told that if you do a major renovation, including an extension, you can claim dep. for new section.
I hope this helps, I got most of this basic information from Margaret Lomas’ book.I haven’t got it with me, but I think it’s called “Creating an income for life”Good luck,
Sue []“Be careful not to step on the flowers when you’re reaching for the stars”
Thanks Guys,
That helps a little, not as juicy as I’d hoped, but it’ll do.
Enjoy your apparently magical existence and don’t forget your morning coffee, Arty.Keep smiling,
Sue []“Be careful not to step on the flowers when you’re reaching for the stars”
Hi Guys,
People are all different, it’s a lifestyle choice.
Some people are renters, some are buyers. Some are leaders, some are followers and some just like to watch!
My parents are originally from Holland (40 Years ago) and they have always been renters. Could have bought, but didn’t want to.
Apparently in Holland, back then anyway, renting is what you did. You didn’t aspire to own your own house, that was for the rich.
Besides the renters had great rights and you usually stayed in the same house your whole life, I think as long as you paid the rent and looked after the place, you couldn’t get evicted.Keep smiling,
Sue []“Be careful not to step on the flowers when you’re reaching for the stars”
Hello Ingrid,
Welcome to Australia and the forum,
I am not from Qld, I’m from Vic, but I am sure there are some queenslanders around here that will be able to give you some of the information that you need.
From the posts that I have seen lately there till seem to be some Positive cashflow properties in areas of Qld.
You might like to do a search in the archive topics, you might find some of the information there.Good luck,
Sue [
]“Be careful not to step on the flowers when you’re reaching for the stars”
Now I’m going to call your bluff!!
I think you guys are having us on. []
Your life can’t be that good, come on spill the beans, how about some bad stuff to help the rest of us feel better??!!
Surely you too aren’t perfect [?]Anything at all????
Sue [
]“Be careful not to step on the flowers when you’re reaching for the stars”
Hi guys,
You’re right we do have to prepare for our own retirements and I think that most of the people in this forum are working on doing just that.I would like to say that I have done my share in the population stakes. I’ve increased the population by four! I had some help from hubby too.
So that should be 4 more people paying taxes in ten years or so. That’s if they can find a job of course.
Actually, if I train them right, they shouldn’t be paying too much in tax after all.
Hmmmm, I’ll have to re-think that.Keep Smiling,
Sue [
]“Be careful not to step on the flowers when you’re reaching for the stars”
Hi Arty,
I hope Pinky sees this and appreciates it, and from what I’ve noticed, she will.
And then come back with a witty reply.
It’s great to see someone take time out of their day to show someone they’re thinking of them. Keep up the good work Arty!But then again, if Pinky’s a witch, maybe she has you under some kind of spell that keeps you enthralled by her beauty [?] [
]
Coffee been tasting a little different lately ?Keep smiling,
Sue [
]“Be careful not to step on the flowers when you’re reaching for the stars”
Sorry Fudge you confused me with that one!
I think in Steve’s book he bases his loan repayments on Interest Only loans, therefore the amount of repayment that he quotes is only the interest.
Hope this helps a little,Sue [
]“Be careful not to step on the flowers when you’re reaching for the stars”
Hi Guys,
This looks good initially. However some points:
Plan 1 – Your money $38610
Plan 2 – your money $156979– I don’t know how to work it out, but I am sure this is not a good return on your money.
– You have put all your eggs in one basket
– By using this money to buy properties in different areas, you increase your chances of capital gains
– Several properties will also help you deal with vacanciesJust my 2 bobs worth,
Sue [
]“Be careful not to step on the flowers when you’re reaching for the stars”
Hi Fudge & Broz,
Your Quote:
“Another fact is that when you pay off your loan quicker all the loan repayments will be tax deductable too so you will not need as much money to pay them off as you really think, especially if you are in the top tax bracket, this is different to the deposits that you have to save up for which will be 100% out of pocket, where as a loan repayment could only be 52.5% out of your pocket.”I’m not an accountant, but I always thought that only the interest from an investment loan was tax deductable, and anything over that was not. So my understanding is that you would not be able to claim these extra repayments as a deduction.
Someone please correct me if I am wrong,Keep smiling,
Sue []“Be careful not to step on the flowers when you’re reaching for the stars”
Hi Guys,
I am interested to know if the “loophole” in the insurance policy about the lease is the norm with insurance companies. Has anyone else had a similar experience?
As many tennants stay on a month by month basis after the initial 12 month lease, I think this is an important issue.Sue [
]“Be careful not to step on the flowers when you’re reaching for the stars”
Hi Dennis,
How have you found the investment on the car parking spaces? I gather you’re happy with the outcome. Was the space leased for the whole time and what value do you think they are now?
Sue [
]Be careful not step on the flowers when you’re looking at the stars
Hi bjb,
Thanks for the feedback. I was wondering if it was worth the effort of going and it’s good to know that you thought it was worth your while.
Keep smiling,
Sue [
]Be careful not step on the flowers when you’re looking at the stars
Hi Pushpa,
I am sorry I am not a real estate/investing expert, so my advise is probably not what you’re looking for. However, I feel your frustration and anxiety at your situation. I should think that your property manager should be able to advise you of your next move. Failing that, you could possibly contact the government dept in your state that regulates landlords and tenants.
Hope this helps a little, just remember – you are probably about to learn some valuable lessons.
Keep smiling,
Sue []Be careful not step on the flowers when you’re looking at the stars
Hi everyone, here goes…
Female
35 years
Blonde
Green eyes
Smoker, social drinker
4 kids []
(Girl almost 13- yikes!, 3 boys-11, 9 and
I’ve been “fixed now” []
One husband,
married nearly 15 years, together for 21 years! hah, beat you Pinky & Arty! []
One black labrador
Self-employed – Plumbing, actually I do the bookwork. []
One house,
4 bedrooms,
2 bathrooms,
rumpus (i need it!),
home office,
indoor swimming pool,
triple garage,
one Tarago,
one work van
one Harley – no I can’t touch it![!]That’s pretty much it
Be careful not step on the flowers when you’re looking at the stars
Hi Guys,
Agent oo7 has the right idea when it comes to offering payment at the end of a job to tradies. Although most tradies would expect this. The faster you pay, the better service you will get next time.
I’m married to a plumber. We have learn’t that the people who seem to have the least money are the ones that are most likely to pay you!A bit off track, sorry,
Keep smiling,
Sue []Be careful not step on the flowers when you’re looking at the stars
Hi Guys,
I’m a little puzzled, today I received an email to buy viagra. Not unusual I get them everyday.However, this time I noticed the name of who sent it. It was from xyzzy I noticed this because I have seen this name in the forums.[
]So, is this a co-incidence or is xyzzy sending out spam to the silly people like me who put their email in the forum???
Any replies??
Keep smiling,
Sue [
]Be careful not step on the flowers when you’re looking at the stars
Hi Dingo,
So you’re telling me that if I find gold, when I’m digging in my backyard, its not mine? Or if I strike oil, I have no claim to that either?
Thats not fair! [}]Sue [
]Be careful not step on the flowers when you’re looking at the stars
Hi Andrew,
I agree with Dingo. I use Ing Direct, it is really simple to use. No catches with the fees. The site says it can take up to 5 days for your money to transfer when withdrawing, but I’ve always got mine the next day.
No I don’t work for ING!Keep smiling,
Sue [
]Be careful not step on the flowers when you’re looking at the stars
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