Forum Replies Created
Fences can give you a real headache when dealing with neighbouring fences as usually the neighbour pays half. If your neighbour is not a rich landlord I would suggest getting quotes done for a fence and then providing it to the neighbour. Once the neighbour gets over the shock of having to pay out money they were not expecting they might be happy to pay for their half share. This took 12 months for my neighbours to shine to the idea of replacing the fence when I replaced the rear fence with a wooden fence my share cost me about $770 but murphy's law came into effect and the one remaining tree in my backyard that had never dropped a branch in 15 years on the old fence dropped a branch onto my new fence so I had a quote of $1000 to fix it. $400 for the tree and $500 to repair the fence.
If the fence job is small you might get hit with an extra small job fee.You can claim the fence, the question is as what type of expense it is as it is a grey area of tax law
You purchased the property with a poor fence and so the new fence is an improvement rather than a repair.
So you can claim it as a depreciation expense. In simplier words. You can claim part of the cost by the (fence cost / effective life years) each year of the effective life of the fence. (effective life is decided by ATO for each type of item)
Even if you do the fence as a ppor and rent it out later you can portion the effective life to two parts. Private use time – no claim
and then investment use = effective life – private use life (calculated by days depreciation cost * private / total days in year)
same with getting a chemical or barrier treatment it would have an effective life for depreciation.
Not sure on the pest inspection situation it might be an expense if the property is currently rented but if done during PPOR I think it would be non claimable private use. Other forumites might have a better view on this than I have.
A quantity surveyor would be able to calculate a depreciation schedule for your accountant.If you plan to rent out a portion of your house then a proportion of the floor space is subject to CGT or as worded by ATO that portion is no longer be CGT exempt.
So if you rent out say 20 square metres and the house is 30 square metres then 2/3 of the house is subject to CGT.
It would be prudent to get a valuation so you know what the cost base was when you started renting out parts of your house. On the other side of the situation you can claim 2/3 of the interest costs. 2/3 of the council rates, 2/3 of the cost of house insurance, 2/3 of the cost of water rates against the income you receive from the renters.See this previous posting as it will give you more opinions / answers also and a link to the ATO on the subject.
https://www.propertyinvesting.com/forums/property-investing/help-needed/4327840I have not done it before but when the size of the units increases you need to look for commercial lenders.
If you go commercial the lending rules are totally different so you need to get advice from a commercial lender or a mortgage broker that has a commercial lender on their panel of lenders.hvhomeowner wrote:Nope that's not it. Our home is in Hidden Valley, the old Holmes A'Court Stud farm which is now an estate. 2500 acres but only 950 housing permits so it's not like living in the town itself. Hidden Valley is about 3 minutes out of town up the Northern Hwy.Yep our agent has listed us on both the websites you've mentioned. We've had quite a few viewers, but no buyers yet.
Sorry. I will blame it on my no scripts program on my browser for not coming up with hidden valley on http://www.realestate.com.au
You have a problem – over supply of properties for sale in Wallan.
I counted 180 houses listed on http://www.realestate.com.au
Has your real estate agent advertised your property on this web site?
is it this advert as I don't know what your property is.
http://www.realestate.com.au/cgi-bin/rsearch?a=o&id=105361093&f=160&p=10&t=res&ty=&fmt=&header=&cc=&c=25498450&s=vic&tm=1244281881
Another web site is http://www.domain.com.auThey are stone looking pavers but they sit on a plastic frame and the plastic frames click together like a jigsaw piece. In the garden section. I think I have seen timber ones as well .
tanjaa wrote:My cousin and I want to form some sort of partnership and purchase properties together. We want to set it up so that:
a. It does not affect our current income (be both work)
This question doesn't make sense.
How do you think it affects current income or are you referring to assessable taxable income?
tanjaa wrote:b. It does not affect our current properties we own
This question doesn't make sense.
Are you referring to colaterial . – if you have a trust set up with a company LTD PTY controlling the trust then if you put enough cash into the company you use this cash as the deposit.
However as a director of a company you may need to personally guarantee the amount borrowed by the company .
tanjaa wrote:c. It has the minimal outlay for us.
Setting up a company costs money and then the tax return costs money. Having enough money for the deposit.
You should consider a partnership agreement drawn up with a lawyer
Trust structure – set up with accountant.
We are not sure about partnerships, companies or any other structures that could work. She lives in WA and I live in QLD. We hope to purchase across both states.
Can anyone advise?
Cheers!
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From an economic definition we have missed a recession but this could be due to the stimulus package creating spending.
However the unemployment rate is up and the business investment is down . So we are not out of the woods yet.
If you lose your job then you will not be spending money !Reportable employer superannuation contributions are the voluntary amount that you get slary sacrificed above the amount that the employer has to pay on your behalf due to law on super guarantee.
Why you would want to put money of your own into super that you can't access till your 65? .
Non reportable is the amount that has been paid by the employer.
see
do not let gold digger live with you or marry you without a financial agreement that protects your existing assets being signed by the gold digger in front of their solicitor.
see
http://rpemery.com.au/binding-financial-agreements.html?gclid=CJL90YTE6JoCFQMdewod8FDhBwAlso set up a trust that is owned by your non name related company LTD
When I worked for Telstra prior to 2000 the workers had to show the receipt for the motel to get LWA paid because you could be staying at a mate's place rather than staying in your other house.
I thought about investing in a car park but wasn't sure about GST on rent as it is probably commercial and the parking tax in CBD areas.
What made me think about it was the low price enabling me to pay it off quickly and then build up cash flow to buy another one and pay it off quickly but I haven't gone ahead with it yet.What about service ability – you may not earn enough to borrow $350k and you may need to pay legal costs, stamp duty and mortgage insurance.
Are you living in it if you buy it ?
If yes you may be eligible for first home owners grant.
Your parents probably are sitting on a large equity amount with their house that they could borrow against to then lend out to you.Stratco
Outback® Heritage Range
http://www.stratco.com.au/products/verandahs_patios_carports/verandahs_patios_carports_group_page.asp
do a google search on Carport retailers.Terryw wrote:VLC is good for viewing certain type of movies. i think i use it for ones downloaded from youtube.If you want to change the default player, jus right click on a movie file and selec 'choose default player' and then you can select from a few different programs. just select the one you want and tick the default player button and that should be it.
If using windows XP right click on file and select open with
then select choose program
pick program and
select the tick box always use the selected program to open files of this type
Right click on Start icon at left bottom corner of windows
Select Explore with a left click of mouse
Select Tools from tabs at top of windows explorer window that came up
From the pull down menu select folder options and click left mouse button
left click the mouse with the pointer over the file types tab.
go down to ASF file type it will state it opens with VCL
click on edit and change the program to open with windows media player
go down the list and change each video file type to open with media player.Bunnings sell a 3 x 3 set of pavers that is set in a plastic frame so the pavers would sit off the concrete to allow drainage.
this might interest you if you want another way to vent
http://www.news.com.au/technology/story/0,28348,25261841-5014239,00.html
Pay as much as you possibly can off the loan or into an offset account and you will get the investment to the point of cash flow neutral position eventually.
