Your 50% will be private as you live in the house.

Your ex's 50% can be rented out. The tax treatment for them is pretty much the same as if the whole house was rented, they claim 50% of expenses etc.

Example Scenario:

You have a 3 bedroom house. You have the master bedroom and rent the other two rooms to your best friend and another random person found from an online property investing forum

The master bedroom is slightly larger than the other two bedrooms. The master also has an en suite bathroom.

The common areas such as lounge, kitchen…[Read more]

Your intention and actual use of the property also comes into account in determining whether or not you can claim GST.

If you do a substantial reno which results in a 'new building' (as determined by the ATO) and you originally intend to, and in fact do, sell the property within 5 years you can claim GST. You also have to pay 1/11th of the sale…[Read more]

Very unlikely to be in business.

Also even if you could somehow wrangle it to be running a business of holiday rentals you can end up in business banking with higher interest rates and lower LVRs.

I agree with PLC, reno sounds like a capital improvement, tax deductions over time via depreciation/capital works deductions.

Can move in and do the reno, then move out and rent out.

Reno costs are capitalised into the cost base of the property for CGT purposes

Property will be eligible to be claimed as your PPOR for up to six years after you…[Read more]

Yes, just make sure the unit trust doesn't have any borrowings or lends money

"I swear, the car was dusty, I just needed to drive it to the car wash. The only car wash I trust with my car just happens to be along the Great Ocean Road…"

Generally you can continue to claim the interest on remaining loan funding the loss on an investment provided these points are met;

All the proceeds of the sale of the investment is used to repay as much of the loan as possible (don't go on holiday with the proceeds)

You are unable to repay the loan from other assets, other than the family home…[Read more]

Agree here, you want the agent to be friendly. When I make an offer that is significantly below asking price I make sure I explain why the offer is so low. Being reasonable in a negotiation rather than just  trying to rip off the vendor.

For example, my partner and I recently purchased a modest block of land in a regional town. Our offer was…[Read more]

No CGT rollover relief available? I suppose he needs to pay this out in cash?

$100k p.a.? Not bad work if you can get it.

Maybe Steve can add that to his list of  "income accelerators"?

propertyinvesting.com/dating-for-profit ?

Renting your PPOR to your spouse so you can claim a tax deduction for rental outgoings and mortgage interest is a big no no.

First the tax office would likely argue that as you are living in the property yourself the tax deductions are private in nature. As Terryw states you cannot rent property to yourself, so the tax office would deny the…[Read more]

5 Bedrooms likely to be rented to 5 tenants (students)?

Hard to find finance for student accommodation?

Is there better cheaper student accommodation coming online soon?

Discretionary trust for future creditors, but make sure you don't have any outstanding unpaid beneficial entitlements.

Pre-nuptial agreement for future ex-spouse? But I don't think these work much in Aus?

Terryw or someone else have any war stories about pre-nups?

A financial advisor might be overkill. You might also struggle to find someone to do this quickly and cost effectively.

The majority of financial advisors are more interested in selling financial products in my experience.

Your mortgage broker should be able to help work out changes in repayments for changes in interest rates or if you're IO…[Read more]

"I'm also newly graduated from Uni and awaiting more significant employment so beside my part-time position, finance is tight at the moment. I have managed to save a modest sum of $15k and wish to break into property."

$15k with a uni degree at the age of 23 is hardly modest! You're being too hard on yourself! 

Yes, $15k is not likely to be…[Read more]

"How can I prove to them that this is a safe method of investing and there is minimal risk involved with the right deal being purchased?"

Investing is always risky, that is why we generate a return. Key is to manage the risks. Try documenting all the risks associated with your deal. Try to access the financial impact of these risks, the…[Read more]

Far out! So many issues with 10% of the purchase price at stake.

Like Scotty says go see your accountant asap.

Issues you should be discussing with your accountant;

Are you required to be registered for GST?
Should you have back dated your registration to 5 Nov 12, can this still be back dated?
Did you register for GST on a cash basis or…[Read more]

Sounds very late in the piece like Terryw says.

For best results you should discuss your plans with your accountant, lawyer, & broker before executing.

Get prepared and organised for your next deal, paying stamp duty once is bad enough!

Holding your property portfolio in multiple trusts can reduce your overall land tax bill.

In WA trusts are usually assessed for land tax on the WA property owned within the trust (and is not aggregated with land you hold in your own name).

With WA land tax the first $300,000 of land has a nil rate of land tax. Greater than $300k to $1M you pay…[Read more]