Interesting one Basil,

Sounds cliched but I think there will always be people who feel ok doing a dodgy deal and there will be others who are far too generous in their dealings.
I suppose most of us fit in between these two extremes.

I like to leave “something” in a deal for the other party, how much is ultimately determined by THEM.
After all…[Read more]

Thank you for your comprehensive answer DEREK.
I employ myself thru a co structure so my interest is evident.
I am ringing my accountant.[biggrin]

Giddo
http://www.standrewsplace.com.au

KNOWLEDGE IS POWER

I suggest you draw up your own plans to suit the block, and then see nice draughtsman to draw it for you. They should know all the council requirements for building. Naturally you need to see the town planner prior tothis, to find out setbacks, carparks etc etc.

Yes it will all cost I am afraid. All except the council town…[Read more]

I know JUST how you feel ! [blink]

No matter how much you look; the return always falls short of the cost of holding the property! I reckon there are too many investors satisfied with 3-4% gross return.

On the other hand,I suppose if it were close to neutral as we all want, there would be heaps of people looking for them!

I have just bought…[Read more]

Thank you all.

Yes DLPP, I think you are right – once the committment is made it is time to MOVE.

Every week I delay is a week later i will have a bit more $$ in my pocket!

I am thinking town planner first then surveyer.
I have never used a development co when I have done this stuff before I always seem to manage to wobble my way thru ok.
Do…[Read more]

SE Qld Sal…….

In my hometown where I know the market -where else???[exhappy]

Giddo
http://www.standrewsplace.com.au

KNOWLEDGE IS POWER

Thanks ASDF and WORLDCHANGER,

By the way worldchanger, I saw the news last nite and I don’t like the way you are changing the world! At least I know whose fault it is now.[blink][biggrin]

The flats are currently on two titles i.e. 2 lots of 3.
So while rates are about $4k per annum, it is not as bad as if they were strata titled. They are able…[Read more]

Hi Felipe,
Yes if you make more money you pay more tax – however, you may be able to get a tax deduction via “paper” deductions. i.e. depreciation usually 2.5% on buildings and maybe 25% on furnishings portable.
Very complex area.

I am not qualified so do not take this as advice.

You could take this as advice if you wish –

Minimise tax where…[Read more]

Gotta add to this thread again as I am changing cars.

I have sold my 98 SUBARU FORESTER GT. (privately)

Used the cash to buy a 1996 BMW 323i. (small body but 6 cyl )

Drives like a dream.

This is indeed a BOLD experiment for me. So far – great.[biggrin]

Giddo
http://www.standrewsplace.com.au

KNOWLEDGE IS POWER

Hi HB and DLHadden,

Thanks for your replies; especially yours DL which was info packed .
My home is part of a short term accomm complex and so GSt is collected.(and claimed) see our website.
I have been thinking about the future lately and this is part of the planning.
There would be a good sized CGT bill if we sold the whole thing.
I have just…[Read more]

Yeh HB

Your name reminds me of a type of pencil I would use at school 45 years ago.
Are you thin?

You are right – I should have set up my affairs a bit differently.
However on the bright side I am 50 now and intend to keep the assett till I am over 55 at least. This allows me to put an amount equivelent to CGT into super which would help a…[Read more]

I reckon REDWING was trying to assess whether the simplified explanation was going to be understandable to the novice.

YES it is able to be understood I think.

Of course the big problem in trying to explain leverage to the novice is their pre conceived ideas of RISK, INTEREST COSTS, RISK, WHAT THEIR RELLOS WILL THINK< RISK< AND RISK.

Most…[Read more]

YEP,
You guys are right…

I rent the home from my own company (half owned with my wife actually)

Need to pay market rent to my own co.
I also draw a small salary from my own company.

The best suggestion I have heard so far is to pay o rent and then pay FB tax. Thank you hb.

I would like to reduce the rent however as it s after tax dollars and…[Read more]

Thanks HB that sounds like a good idea to me.

TerryW thank you for the offer I might just take you up on it please.
Sounds a little different to what I am doing currently but hey I am willing to change the arrangements if I can get a benefit.[rolleyesanim]

At the moment I own nothing.
My company owns all.
Any other ideas anyone??
I am not about…[Read more]

Hello swoffer,

Do you reckon there is any upside for cap gain later onj, or are we looking purely at income?
Also, perhaps a check on body corp costs and any other levys?
I take it you mean a lifetime lease for the elderly tennants not your own lifetime.
Might not be a particularly long…[Read more]

I think this is a good strategy for making good use of your land, providing the demand is there of course.
It is a long journey however.
You need to consult your friendly town planner first, and the great thing is that it will cost you nothing to do this.
Then you have your usual architects/draughtsmaan, suryeyers etc etc etc.
I think development…[Read more]

My comment might be of lesser value, as I am a lonng way from Perth.
My thoughts are – Is there a really great reason why you would not fully utilise a triplex block?
I bet there is. You have probably identified a demand for houses have you??

Giddo
http://www.standrewsplace.com.au

KNOWLEDGE IS POWER

Hey BDM,
What does “go sick” mean??

Does it mean “go mad” ????[confused2]

Giddo
http://www.standrewsplace.com.au

KNOWLEDGE IS POWER

A lot of sensible people on this forum.
It can be dangerous to follow the herd, especially when the herd is led by a journalist who has as an agenda selling more papers and getting the story written in about 1 hour and getting on to the next story. (that is what they do)

I am doing what I think is right for ME at this time. That means I now have…[Read more]

I think (please correct me anybody)

If you own a company and are of mature years, you can :
sell your property
contibute lump to super on behalf of an employee (yourself)equivalent to Cg amount
pay 15% tax on contibution
avoid CGT
Collect when you are 55 subject to a maze of conditions
[blink]

Giddo
http://www.standrewsplace.com.au

KNOWLEDGE IS POWER