Forum Replies Created
- Originally posted by Monopoly:
… but we decided to try and get 2 if possible, which now has become a reality, and there is a 2nd property we can purchase for 170,000 – HOWEVER [blink]as I (personally) have a $77,000 capital gains tax bill owing, would it be wise to buy #2 IP, or should I just pay the bill to the taxman…
Buy in Canberra. You can claim all costs in the first year (not deprecatie over 5).
Buy under your name and offset the costs against your bill.Jas
Why do companies offer you “free gifts?” Since when has a gift NOT been free?one way is to buy a place with a house on it already. you move into it for now (your PPOR).
Then you subdivde the land and build a new place. at the same time, you renovate the current PPOR.
When everything is finsihed, you sell the PPOR and move into the place you’ve just built.
No CGT on either, no GST.
Jas
Why do companies offer you “free gifts?” Since when has a gift NOT been free?easiest way is to work out what you need for non-income purposes and get two loans (one fore around 13K, and the other for the rest). that way accounting at the end of hte year is simple.
Jas
Why do companies offer you “free gifts?” Since when has a gift NOT been free?caveat emptor. in bank loans too.
either he will educate himself, or he wouldn’t hear what you (a non-bank employee and therefore non-expert) had to say.
Jas
Why do companies offer you “free gifts?” Since when has a gift NOT been free?He was the one who advised the vendor. he and the vendor where happy with the price you paid at the time. if they had been willing to do the reno, then they could have gotten the extra $$$.
They choose not to. You choose to.
Jas
Why do companies offer you “free gifts?” Since when has a gift NOT been free?To put it simply, go with what works for you. some people are very big on precisely planning (with 14 page plans for this year, including graphs of where they were this time last year). Other are more ‘with the flow’.
if you are a loose person, a 14 page plan will be too restivte for your. if you are a born accountant, going with the flow will drive you mad.
find out who you are and then work with that.
Jas
building costs vary a lot between states and areas. Go to a local agent and ask him the names of a developer or even a building in the area. talk to them and get the local figures.
10mins worth of calls, and you’re done.
Jas
Set up a unit trust. The super fund invests in the unit trust. The unit trust uses its funds for desposits/percentage of the property. You borrow the rest.
Super fund hasn’t invested in assets other than the unit trust. So, its all cool.
Jas
anything happened on this?
Jas
