Thank you James and Tools for your replies.

I sort of got the feeling, based on the large difference in price, that the quote from the bricklayer was the sort that said…I don’t really want the job but if your stupid enough to pay this price then OK. It did come with a 9 year gaurantee though.

I have asked for a 3rd quote from my PM and in the…[Read more]

Hello crashy

Using the principle that there are no stupid questions I am going to ask one. [blush2]

Understood your example except the bit that says

“on 2% margin you can leverage it 50x”

Can you please explain that statement in terms that a 10 year old will understand.

No I’m not 10 but my level of knowledege in this area is.…[Read more]

Good idea dee dee

It’s an area I would be very interested in myself.

Cheers
Elka

Hello Giovanni

Have you checked on that with a good accountant?

Here is a link to the ATO site about treating vacant land as your PPOR under specific conditions.

http://www.ato.gov.au/individuals/content.asp?doc=/content/36890.htm&pc=001/002/026/017/005&mnu=5060&mfp=001&st=&cy=1

Hope this helps
Elka

Hello alotti

I agree in principle with Simons answer but if he is a good tenant and the property was difficult to rent I would tend to offer to split the cost of the installation. I would first explain that this was not actually my responsibility, giving foxtel as an example.

Naturally he is responsible for the monthly fees.

When he moves out…[Read more]

Hello Spanky

This is an area that I’m currently looking at so am very interested as to how, if the fund earned double digits, you still lost $180.

OK you paid $600 being 15% tax on the earnings according to ducksters post. According to my calculations that must mean that you earned $4000 on your fund. What happened to the other $3580? Surely…[Read more]

Hello Salacious

“Would it not be better to refinance grab equity of ips and make lump sumpayment into your PPOR?”

No. The interest on this money would still not be tax deductible as the ATO looks at what you did with the funds (investment or private use) and not where it came from.

Elka

Thank you Frank.

I think I used to ignorantly just use wall paint on the ceilings too. A waste of money but I guess no harm done.

Cheers [smiling]
Elka

Hello Salacious

“I have a dilema, ( Good One) my investment properties are paying themselves off and paying for my PPOR.”

Are your IP loans interest only? If not, maybe they should be and the extra money put into an offset account against your PPOR loan.

This will reduce your non tax deductible interest , reduce the loan time on your PPOR and…[Read more]

Good grief Charlie Brown !!!

I can’t believe that some of you are actually trying to stop your smoking tenants from smoking in your properties.

It’s their home for goodness sake.

If they cause real damage (burn marks or something) you can take it out of their bond when they leave.

There are products on the market that absorb smells. Maybe you…[Read more]

Hello Frank

What is the difference between paint for the wall and paint for the ceiling.

I’m ashamed to say I didn’t know that there was a difference. [blush2]

Don’t worry, I haven’t done any painting personally for years.

Thanks [smiling]
Elka

Hello Cata

I don’t know you personally but always value your posts.

Very sorry to hear that your going through a rough patch just now but I want to assure you that there is life after divorce. The best way to get through this period is to be as kind and as fair with each other as possible irrespective of who did what to whom and why.

Remeber…[Read more]

Hello Foundation

No, no confused face here. [smiling] I also have a love affair with property that I find hard to resist, logic not withstanding.

Even though some of these questions are more suited to the frolic section, I will put my head on the block and ask anyway.

Why gold? I mean when we (the world) are off the gold standard right, so…[Read more]

Hello ogilvy

crj is 100% correct. I had a similar problem (not for as long thank goodness) with an industrial property and offered the first 2 months rent free.

The problem with lowering the rent it that it not only lowers the valuation of your property as crj mentioned but that it’s a long term effect as far as the rent is concerned. By this I…[Read more]

Hello

May I ask why you would want to sell the 3rd unit to yourself?.

As a beneficiary of a trust is it not possible to live in it as your PPOR? Does it effect things like land tax and CGT in the future?

Thanks [smiling]
Elka

Hello Guys

I thought you are the generation that can find anything on the net so how come you need help finding this.? [smiling] [rolleyesanim]

I think this is the site Bravesparrow was trying to send you to.

http://www.dadhc.nsw.gov.au/DADHC

I just did a simple search to find this. [wink2]

Hope it helps
Elka

Hello Foundation

Thank you for the time and effort you put in on that answer for us.

A great synopsis of the economic history of Austrlalia. Economics not being my strongest point it will take me at least a couple more readings to even be able to ask an intelligent question on the subject or to question the conclusion you draw.

One thing I have…[Read more]

Originally posted by Qlds007:
[

A property purchased and renovated / subdivided etc and subseqently sold may qualify for the reduced rate of CGT which can be as low as 10%

Hello Richard

Can you please explain the statement above. How can CGT be as low as 10%.

Thanks
Elka

Hello Tammy

That’s interesting. I must say I had wondered how they came up with 6 years.

As far as where you can live after you move out of your PPOR, I haven’t seen anything on the ATO site which restricts you. The point is that you don’t designate any other property as your PPOR.

So, I guess you can move into another property you own but…[Read more]

Hello Joshua

I only learned about it since joining this forum some months ago.

What’s even better is that you get to start the 6 years again if you move back in for a while. Below is a link to the ATO site where this is all explained.

http://www.ato.gov.au/individuals/content.asp?doc=/content/36887.htm

Cheers [smiling]
Elka