Forum Replies Created
From the horses mouth click on
http://www.osr.nsw.gov.au/portal/page?_pageid=33,117630&_dad=portal&_schema=OSRPTLT
very helpful downloadable fact sheet on link below
http://www.osr.nsw.gov.au/pls/portal/docs/page/downloads/other/lt_guide_2007.pdf
see fact sheet ppor exempt so not added into calc under certain conditions..however make sure they do not decide to classify a different property as your main residence. ie the cheaper one that you might not be living in or is a holiday house. This happened in Vic to someone I know. You have to pay the tax and then argue that it was insane to classify the wrong property with the OSR..
land values see
http://www.lands.nsw.gov.au/valuation/nsw_land_values
this is the department that values the land !!Duckster Financial Services
http://www.ducksterfinancial.com
Helping to make the great Australian Dream come true !Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
You may not be able to borrow more money because of a low income.
Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
You sound like you have an emotional attachment to this house.
You need to set the max price you will go up to and be prepared to walk away if it doesn’t match if this is an investment property rather than the house you must have no matter what.Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Add a garage if it has a carport . Add an extra bedroom by splitting a room. Add a pergola or Deck . Increase value and increase rent !!
Rent out furniture to tenant ,
Haven’t done this myself just read the theory on it.Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
If you do not mind paying a $20 or $30 fee
http://services.land.vic.gov.au/landchannel/content/guideComments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Depreciation comes in two forms
Capital building Writeoff usually claimed at 2.5% of building cost on recently built properties.
Other
is Fixtures in a house like a new kitchen, hot water service, Vinyl floor, carpet ect , have different levels of depreciation which can be found at
http://www.ato.gov.au/individuals/content.asp?doc=/content/66031.htm
http://www.ato.gov.au/individuals/content.asp?doc=/content/66033.htm
http://www.ato.gov.au/individuals/content.asp?doc=/content/31258.htm&pc=001/002/002/010/005&mnu=1009&mfp=001/002&st=&cy=1
or through a quanty surveyor or accountant.Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I will have a mortgage broking newsletter in the near future if you would like to subscribe
pm me with your email address.
Brett Duxbury
Plan Australia MemberComments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
The cause of the hindenburg fire was caused by a difference in static charge between different aluminium oxide coated cloth. The airship had travelled through rain which caused some thread stiching to be wet (more conductive) and other parts of the ship to have dry cloth stiching (less conductive). When the airship was grounded to the mooring the static charge discharged unevenly causing a potential difference between bits of cloth panels. A spark arched across the panels of aluminium oxide cloth causing it to catch on fire. Aluminium oxide is used today as a catalyst with hydrogen for better burning of hydrogen in the space shuttle.
Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Be wary , one particular coastal council http://www.byronbay.org/?p=65 in NSW was trying to ban holiday homes beng rented to temporary residents.
http://www.athertonadvisory.com/Holiday-Rental-Owners-Association.pdf
http://www.aph.gov.au/house/committee/ewrwp/tourism/subs/sub18.pdfComments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
this will explain the 3% max value of the CPI by the reserve bank of Australia
http://www.rba.gov.au/PublicationsAndResearch/Conferences/2004/Heath_Roberts_Bulman.pdf
If the CPI growth gets > 3% or looks like trending to >3 % the economy will experience what is termed unsustainable economic growth.
This is also affected by global growth as Australia is part of a global economy. Unfortunately there is a lag effect in the economy where indicators like new building approvals, consumer spending, borrowing levels, business confidence can increase many months before the economy feels the effect. The mere mention of an interest rate increase can effect these factors. The effect of an interest rate increase takes months of time to effect the economy to slow down borrowing and slow down the economy. This is why the RBA announcements are after several months as to if interest rates will increase. The last decreases in interest rates was caused by a slow down in the global economy and thus the Australian economy.
The RBA decreases the interest rate to increase the growth to avoid what is know as a recession and if negative growth continues it evenually becomes a depression.
http://www.rba.gov.au/PublicationsAndResearch/RDP/RDP2001-09.html
indicators can be found at
http://www.abs.gov.au/websitedbs/d3310114.nsf/Home/key+national+indicatorsComments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
If you want to annoy these marketers then insist on getting an independant valuation, independant finance and independant legal advice (solicitor) rather than using the ones they recommend.
Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
The first property is the hardest and then it gets easier as your equity grows over time. Property won’t make you rich instantly it takes time and consistant purchasing and dedication. Start off small as the hardest part is the purchasing costs that are extra like solicitor, stamp duty, insurance, mortgage setup fees, ect.
The bigger the purchase cost the higher the interest payments and stamp duty.
You will find it hard to find cash flow positive properties as the market has changed.Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
This is one I have seen in real life
Create a childrens show with music and dancing and create a video and sell it to the ABC as well as to the public. Then francise the show to other countries. Collect Royalities as long as new children are born who haven’t seen the DVD and their parents buy it.or
Buy shares and then sell the right for someone else to buy them.
Sell covered call options. If share goes up in value you may have to sell it at a profit. and keep premium. If it doesn’t go up you keep the call premium.Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
In Steves book you would have read about how hard it is to pick the growth cycle of the market and that it only occurs 1/3 of the time.
You need to decide on what strategy you are after.
Do you want to start off small and have a large deposit and instant positive cash flow or work hard at paying off enough to get the property to a positive cash flow situation. The growth if it occurs is a bonus as the goal is getting to positve cash flow.or are you after growth and want negative gearing where you have to cover the short fall.
Usually high capital growth gives a low rental return.
and low capital growth will give higher rental returns
Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
This may help you with your question
http://www.accc.gov.au/content/index.phtml/itemId/740212/fromItemId/3871
and where to complain to if needed.Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
this site might of interest to you
http://www.sop.com.au/Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
You are going to have trouble obtaining finance if you do not have evidence of income or have a business ABN registered for two years.
Having been unemployed for 3 years I have decided to become a mortgage broker. I think I will struggle for the next 12 to 18 months to sign up any mortgages due to the market , but at least I will have an ABN for two years and I will have the flexibility to invest in property as I will be working for myself.
As I read in a book and have discovered myself if you have $2 million in debt and lose your job but can manage the repayments then no problem.
If you have no loans and lose your job the banks won’t lend you money.Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
be also aware that any capital works / building writeoff money depreciated is minused off the capital base meaning you make more capital gain if sold later on –
Thus more capital gain tax payable.Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
at the moment there seems to be a small window till july 07 to be able to invest some of this money straight into superannuation where it would be taxed at a lower rate. It might be worth keeping this in mind when talking to a financial adviser or accountant.
A wise way to invest is to spread your money over various asset classes this is know as diversification or as the saying goes don’t put your eggs in the one basket. Another important point is what your risk profile is. Are you prepared to risk losing your investment and how would you recover from a loss. How much debt is on the other property is it worth paying down debt.Comments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I have meet Neil in the flesh at one of his information nights and it is a real eye opener to see what some real estate agents get up to.
The market is bad at the moment due to the increasing interest rate trendComments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
