thanks Birdy. I think you are on the money.

thanks Dram. I’ve fixed that post to Tenants in Common Thanks for the advice peoples

OK had that cupa tea and cream bun and chocolate swiss roll, and am gathering my thoughts about the second point of lowering your tax bracket threshold.

Say I am close to the lower tax bracket limit after claiming my IP loss. Say after IP effects my new taxable income is 50,500 which puts my in the 42c tax bracket for tax re-calculation.

I have…[Read more]

I got this from the ATO today 2002 – 2003 rates

0 – $6,000

Nil

$6,001 – $20,000
17c for each $1 over $6,000

$20,001 – $50,000
$2,380 plus 30c for each $1 over $20,000

$50,001 – $60,000
$11,380 plus 42c for each $1 over $50,000

Over $60,000
$15,580 plus 47c for each $1 over $60,000

Thanks Stu and others.

Getting back to the main item $68K gross income with IP. So the 8K is taxed at 47c thus when you claim deductions they are ofsett at that higher rate. That’s what I meant in my query. I admit it aint much i.e 8000*.05 difference in the tax rates from 47c to 42c but its $400 or $7.69 per week in extra refund.

I’m a…[Read more]

Thanks Terry and RSTARR

My bank says loan servicing is not the problem. I’m on 59K salary

So I can only borrow $80K ? or that’s my equity ? and I can borrow 4 times $80K = $320K

OK So if I plug in more optimistic figures I get this.

Value 750K owe 550K Thus 750K *.80 = 600K

600K – 550K leaves LVR at 50K so 90% loan would be 400K ? that I…[Read more]

Hmm, now I think I’m talking gross income not net income. I understand the rent is added to my gross income to get total gross income. My property has no net income as it is cash negative.

The total combined gross income, I understand could push you into a higher tax bracket, giving you a better tax break when you claim your property deductions…[Read more]

re; book title “‘From Life Sentence to Lifestyle'”

I can sort of understand the publishers view here. Compared to the ” 0 to 130 properties in 3.5 years ” , the first title seems a little ambiguous at a glance. The second title, although a little cumbersome in expression, seems to more evidently convey the subject matter in the main heading,…[Read more]

Given that mainstream media is arguably owned by the rich and poweful, does this translate that it is the rich and powerful that are influencing the property market prices for their own gain ? or are they merely trying to create attention to their own stories about property to sell more.

If not, then of what interest does the media have in…[Read more]

Peter you have $75K equity. I expect that would easily allow you to borrow that. It also depends on your income though. Just see your bank lending manager and if they say no, go somewhere else until you get yes.

cheers,
007

Chris, personally speaking from a position of ignorance to some degree, I think you are well on the way. I don’t think these wealth creation seminars are essential. Stay on this forum to learn about WRAPS and other investment strategies. When you read about somthing of interest, you can then research it further. Check out the other forum…[Read more]

vluu28 I would be getting legal advice and a copy of your contract !

I really feel sorry for you and not the company, who appear to me, to take advantage of the deficiencies of trusting human nature.

I went to one of their seminars that was supposed to be free and it was by the look of it. However before they began they requested everyone sign a…[Read more]

VH2000 ” value > $500K own $425K ” how can this be nagative cash flow ? it appears you own most of it.

Terry wow learn something every day. So what about if you move back in for a year, then rent it out again for 5 years then sell ? Would you have to pay CG then, as you moved back in and it became you PPOR again for a period before you rented it out again.

cool thanks peoples.

failing this, you can always join a property club.

cheers

yes I accepted the second offer of $235 from the tenant and did not insist on $240. This assured me of a near instant tenant as soon as I settled on my new IP. Piece of mind, time saved and the ability to move on and re-focus on the next challenge is worth $10 a week o me at least.

ToeEdge no, just a would be patient of one. hehe []

Yes I tend to agree its horses for courses. I have two new properties worth near $500,000 in high growth areas. i.e. 10% pa so I’m getting $50,000 growth pre CG tax on them per year for now at least. They are both negative geared and after tax will cost me about $120 per week to hold the two of them. thats $6240 per year holding cost for $50,000…[Read more]

Bob, I suggest you now build and hold and repat this, until you pay near zero tax dollars if you can afford to i.e. if you have a partner to fund you, then build and sell then build and hold again.

Use the capital gain from your last sale and increased equity from your last hold, to fund your next deposit for build and hold, then build and sell.…[Read more]