Forum Replies Created
Hi Terry,
This is really bad news.. hmmm
Well he has not earned a cent from the property as he had let us stay in it for that period.There is no other way of getting a discount?
Any other recommendations you can give please?
House of Wealth is unable to talk to me before a certain time.
Thanks all.Hi Keren Good point re the search function – I can’t see it either. All the customers I’ve shared with James have been happy ones. I’m not sure if he’s still doing accounting though – you’ll need to check with them. Cheers Jamie
Thanks Jamie but House of Wealth charges for consultation so I will look at Ian ross.
Anyone else pls recommend.I am investigating now.
Thanks all
HI Jamie,
Thanks. I can’t seem to search for topics anymore on this new website format.
What do you think of Gatherum Goss?
I need someone who is familiar with trust etc
In regards to this FHOG which I am claiming.
If I am currently living with my sisters where electricity biil is under my name & I am moving into my PPOR in December. Thus all utilities will be in my name in the new property. Is that ok to have my name for 2 properties?
Interesting stuff…
How about good refences for a good property tax accountant around the city of melbourne or near south yarra end?
I am also looking..duckster wrote:3. -VE GEARING – Plan to be a landlord that rents out the rooms rather than whole house. What are the items I can use to for deductions? Electricity? Getting solar?
Maybe depreciation on the solar panels, depreciation on hot water system, depreciation of carpets, depreciation of furnishings in rooms. Employ quanity surveyor to work this out.
Expenses – insurance, council rates, water rates, repairs, http://www.ato.gov.au/individuals/content.asp?doc=/content/31258.htm
If you are renting out some of the rooms you have to proportion the expenses based on floor space proportion used for renting out compared with what is not rented out. see bottom half of http://www.ato.gov.au/individuals/content.asp?doc=/content/31258.htm
Going back to this comment. How do you apportion the common areas like living room & kitchen & garage?
** I looked at some other forums and they recommended Gatherum & Goss in melbourne for tax accountants. Any comments or other recommendations?
** In 2 years, my sister & I are getting an investment property so joint property. Question is, do both of us need to live there for how long to get CGT exemptions?
Thank you all very much. This forum has been great for me.
Qlds007 wrote:KerenWhich City ?
Which Southbank ?
There are more than 1.
Cheers
Yours in Finance
Sorry mate.. my bad..
I am in melbourne..
keren_mx5 wrote:Qlds007 wrote:And if you ever think you might rent your PPOR out and buy another PPOR you should go Interest only with 100% offset from day 1 irrespective.There is already a couple of present posts where forum clients are doing just this and have already paid down sizeable chunks of the PPOR loan only to realise they cant redraw the funds and claim them as a deductible expense.
Cheers
Yours in Finance
Can you direct me to those posts please so I can understand them better? I really have no debt at the moment so just want to pay off as soon. Thank you
Other questions I have too. –>
Am planning to share another property w my sis in 2 yrs. Then with new joint ownership property, do both of us need to live there for CGT exemptions? How long do we need to to get tat?
FHOG grant – are you allowed to rent a room out while you are living in the ppro under FHOG?
Hi all,
Could someone please recommend a good tax property accountant in the city or around south bank that is realible & honest??
Also please someone have a look at my question above. Thank you.
Anyone can recommend a tax property accountant that is good? in the city, sth bank is fine?
Qlds007 wrote:And if you ever think you might rent your PPOR out and buy another PPOR you should go Interest only with 100% offset from day 1 irrespective.There is already a couple of present posts where forum clients are doing just this and have already paid down sizeable chunks of the PPOR loan only to realise they cant redraw the funds and claim them as a deductible expense.
Cheers
Yours in Finance
Can you direct me to those posts please so I can understand them better? I really have no debt at the moment so just want to pay off as soon. Thank you
Other questions I have too. –>
Am planning to share another property w my sis in 2 yrs. Then with new joint ownership property, do both of us need to live there for CGT exemptions? How long do we need to to get tat?
FHOG grant – are you allowed to rent a room out while you are living in the ppro under FHOG?
FHOG grant – are you allowed to rent a room out while you are living in the ppro under FHOG?
Thank u guys indeed this has been a tremendous help for me. Was reading ato’s doc on rental properties tat gave me lots of light but still unfamIliar w the terms. Planning to find an accountant here in melb tat specialises in property. Any ideas?
3 If you are renting out some of the rooms you have to proportion the expenses based on floor space proportion used for renting out compared with what is not rented out. see bottom half of http://www.ato.gov.au/individuals/content.asp?doc=/content/31258.htm
Thank u duckster – If the rooms are proportioned then what abt the use of the living + kitchen? What wld they come under? Common areas? So then wld all utility bills be proportioned as well for deduction purposes?
4. Loan – Might be an idea to set the loan up as IO with an offset attached. This will give you flexibility in the future.
Getting 100 percent offset but still can’t see why IO is beneficial. Isn’t better to pay off as much and as soon?
5. Insurance – if you’re self managing, you’ll need to ensure that the landlord insurance policy you take out allows self-managing.
Thank u jamie n duckster, will be self managing n will look into landlords insurance.
OTHER:
Am planning to share another property w my sis in 2 yrs. Then with new joint ownership property, do both of us need to live there for CGT exemptions? How long do we need to to get tat?
