To be honest, they are taking the mickey with those extra fees.E.g. these days postage is actually worse service than email (less convenient, if you're paperless you have to scan it manually) and the want a fee for worse service?And on Colin's point about paying somebody to collect money for you: some agents don't even use direct debti (e.g. they…[Read more]

A good website on this would be SMSF Academy.  An ex-boss of mine Aaron Dunn runs it.  (I have no finanical ties to him, but his content and blog are very good.)To answer a small part of your question, yes it would be complicated!  There are not just tax rules but super rules to consider.  You need to do things scrictly by the book and at arms length.

Hi Ashley,If you use H&R Block as a typical example, they quoted a colleague of mine $225 for employee + 1 rental tax return.Our price is about the same, and we add $75-$90 for each additional property.  Any more than three and we'd talk to you about rental management software to make it easier.The first year should be more because you should be p…[Read more]

walt_k wrote:
On this topic, would someone be good enough to clarrify amount of CGT payable on a PPOR?  I am still trying to understand the extents of the term "CGT Exemption".  Does the full exemption mean only 50% of the bought to sold price is taxed?  Or does the full exemption mean 100% CGT free?Reason why I ask;  my partner and I are cur…[Read more]

G'day beefz,Nice to read about a 26yo who has their financial house in order.  People our age (I'm 29) have this rep for being money wasters, but it's a generalisation.I see you're on an info-gathering mission, so I hope the following info is relevant and helpful.If you are planning to do the FHOG and move out strategy (which is a common one)…[Read more]

Hi Jade,Your friend is right.  Once you use the loan for non-rental purposes (non income producing purposes) it is no longer 100% deductible.  That's assuming the redraw was to cover private, non investment expenses.But you don't lose your deduciton completely.Have a look at my article http://www.beyondaccountancy.com.au/?p=414 or the ATO ve…[Read more]

Terryw wrote:

naughtyj wrote:
Thanks.  Kind of figured as much, but it never hurts to ask.Subsequent question:  I'm figuring that property prices won't move upward much in the next 12 months much, and I will be getting a current 2011 valuation on the property in a few weeks.Would that establish the basis for its "cost" value when I move out…[Read more]

Hi,We recently saw a client from Chan & Naylor and he had been set up with the same complex range of tax structures (hybrid trusts etc).  Given what the ATO say about Hybrid Trusts it is a bit of a risky strategy.  Go to the ATO website and search 00242180 in the search box to see what I mean.Complicated tax structures are expensive make good a…[Read more]