StumpCam wrote:
Strange how the banks don't even consider your CGT liability when assessing your net worth and LVR. I guess they don't care what happens to you after they sell you up and recover their principal. The ATO just has to pick over what's left.

the ATO will wake up one day………nah only of it makes the 7.00 TV or the front page…[Read more]

The ATO is looking at travel claims as the buy your investment in the Gold Coast and it pays for your holiday each year has worn a bit thin. I think if you have  a agent they think one trip a year would be appropriate and if that was the Gold Coast they think fly in and fly out same day.

Trusts in some states have zero land tax exemption which means you may pay land tax on the whole value, although with a villa it should not be too bad.Also remember as you no longer own it it will no longer be exempt for CGT. so don't go in with a low value to save on stamp duty as the transfer price will be your original cost base in the…[Read more]

Terryw wrote:

gmh454 wrote:
The elephant in the room on this is the unfunded Cap gain tax liability.Eg: Investor bought prop for 250K five years ago. Now worth 500k. Has drawn down additional debt to cover shortfall, and living expenses up to 400K.At this point the Cap gain liab yet to be paid is up to $ 62,5000 depending on marginal tax…[Read more]

I do not belive you can sell something you own to yourself. A partenership between your parents 50% / yourself 50%, is two separate individuals. A partnership is not a separate legal entity.You are basically refinacing on house A to buy into house B.  As you will still own 1/2 of house A, that portion of the original debt 1/2 $240K will be de…[Read more]

The elephant in the room on this is the unfunded Cap gain tax liability.Eg: Investor bought prop for 250K five years ago. Now worth 500k. Has drawn down additional debt to cover shortfall, and living expenses up to 400K.At this point the Cap gain liab yet to be paid is up to $ 62,5000 depending on marginal tax rates. Have seen a real life case of…[Read more]

and of course no one had considered what to do with a whole stack of 457 visa workers, we don't need anymoresoon the property shortage (so called – gotta have some fear in the market – those clowns could not sell without it) will be a memoryother factor is what happens when people become unemployed, they head to the beach – they get out of the…[Read more]

It works like this.You pay say $50,000 too much based on incorrect rate of return, caused by rent guarantee,. Say true rent is $15k pa, they put the guarantee at $20k pa. They get a tennant for you at $15k and use $10k of  the extra sale price to top up the rent for two years.Reality is when they stop using your money to top up the rent the prices slump,

The big diff I see between this and 1991, was that I feel we were in recession about two years before it was called. Among small business they started to grind down around 1989 but we called it the 1991 recession. It was a very slow wind down.This is like a car crash by comparison. What has surprised me is how many people have laid people off…[Read more]

So when journos pick up a REI press releases that says rents in Mosman will go up a kilzillion % by next Monday (okay it was 40% in a year ) that was fine. When they reported manipultaed sales figures that took out houses pulled from auction the week before that was okay. When they include price increses for real estate with factoring refurbs and…[Read more]

Hi, work  in Parra, and there was a lot, buildings going up then.Can you tell us the outgoings ????

C2 wrote:
One main thing that appears to have been over looked and currently is helping Australia  avoid the recession or depression that hit Australia previously is immigration.  As we open our doors to more immigrants they create jobs whilst also putting money in to the economy. 

The immigration that we have experinced recently, has had tw…[Read more]

Macnatt wrote:
I disagree with Scamp about massive job losses in the mining industry. The mining boom is underpinned by the asian markets which have esacped the financial meltdowns of  the US and Europe virtually unscathed.

Natalie the mining industry is fine so far, but if you look at the effect that the drop in commodity prices has had on…[Read more]

I am an accountant in Sydney and we had clients buying investment residential in the CBD Balmain Mosman Northern beaches (whale beach) Hills, and mid west , Pendle Hill Wentworthville.Now I know many on this forum have made kazzilions with there investments doubling every second week but from a broad spectrum of my clients as investors many of…[Read more]

but what will it appraise at tomorrow…..

Scott No Mates wrote:
I'd agree with Chopper – at the moment it is a hold. Prices for sales are being hammered unless you are in the Eastern Subs or North Shore where the market has been quite strong

Just in off the ABC, in regards to dropping state revenue "the upper end is feeling the pinch as defined by "x" number of houses in Mosman…[Read more]

Ahhhh that article reminds me of the good old days.back in 1991, had one client arrested and two promised cheques fall over on a shipping delay. 30K I was counting on gone. I owed Citibank $4400 and was 35 days late. Got a letter saying that if all arears and current  was not paid, the house would be repossessed at that time. Wife  not h…[Read more]

Scamp do not agree with all you say, but have seen more than one economist talking of the western "supply and demand – with minimal government intervention " model has been broken. Under that model, the recent boom, bust, boom cycle seen in the states since 1991, should not be happening. There are many players, that have worked out how to make s…[Read more]

duckster wrote:
If you are in a hurry to get tenants drop the asking price for the rent by $20 a week from what the market price for the area is due to the short lease condition.

26 x 20 = 520 (less by now, ) moving costs = ????, maybe a little more than $20.

Not trying to be funny, but maybe your agents ethics are getting in the way.I was renting between houses in 1993 and my wife always asked the agent for a 12 mth lease, agent said no problem and when it came time for her to sign the agent produced a 6 mth lease, and told her it was a formality, there was no problem just get another 6 monther when…[Read more]