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  • Profile photo of LittleBeeLittleBee
    Member
    @littlebee
    Join Date: 2003
    Post Count: 4
    August 18, 2003 - 8:54 am

    Chris,
    They werent originally bought as investment properties….the bigger one was to be our home but we got a second posting overseas….I dont think that depreciation schedules are mandatory on properties in Western Australia? I may well be wrong..there is a good chance in fact….I know the eastern states seem to have them as a given on sale.
    I thought this seemed quite high…if anyone has any recomendations for a less expensive company it would be much appreciated.
    Regards
    b

    Profile photo of LittleBeeLittleBee
    Member
    @littlebee
    Join Date: 2003
    Post Count: 4
    July 24, 2003 - 5:09 am

    Mini Mogul,
    Can you tell me how you find out the government values? Is the information listed in NZ? Does anyone know if this is the case n Aus as well?
    Thank you
    A

    Profile photo of LittleBeeLittleBee
    Member
    @littlebee
    Join Date: 2003
    Post Count: 4
    July 3, 2003 - 7:22 am

    Terry,
    Can I just jump in here and ask if you can advise on possible CGT on a high end property that I am currently renting. We bought this to be out residence in australia and kept it for one year – in the end our assignment overseas was extending and we rented out the apartment. We have no other residence in Australia. If we were to sell this property in the future would we be better off from a CGT point of view to sell before we return to Aus, or to live in it for a couple of years and use it as our PPOR before selling? Sorry if I shouls have started a new post instead of commandering Marty’s (sorry Marty)
    Regards
    Abby

    quote:

    Excellent idea.

    If you ever sell your new PPOR CGT will only apply for the period it was rented out.

    Terryw
    [email protected]

    Profile photo of LittleBeeLittleBee
    Member
    @littlebee
    Join Date: 2003
    Post Count: 4
    July 2, 2003 - 12:32 am

    Thanks Steve,
    This plan only just necessitated formulation yesterday so it needs a lot of work…not least of all sourcing an interest free loan [:D]

    I will go off and do some more tweaking to the “plan” thank you for pointing me in the right direction…and I have LOTS of questions re Captial Gains tax…but Ill save those for another day….
    Thanks again
    Regards
    Abby

    quote:

    Hi,

    Thanks for your post and welcome to the forum.

    There’s a few things to say…

    1. Will you be owing the property as an investment and having your mother as a tenant? If so, I imagine that you aren’t too worried about the cashflow loss and will be hoping to make it up in terms of capital appreciation as values rise. To this extent my advice is to clarify your investing strategy so you isolate what investment performace criteria you are looking for.

    2. An interest free loan? Hey – tell me where they are and I’ll be there in line with you!!! Do you mean interest-only? If so my advice would be to try and pay down the loan to reduce the risk should interest rates rise. It might be a little extra, but it will also eventually bring down your interest payments. Check the affordability of the repayments, and, if you can, go with P&I terms.

    The last question you riasei s one about structuring. Perhaps the biggest benefit/issue to be considered here is the principal place of residence exemption. If you buy it in your name then it will be an investment property (unless you live in it) so you’ll have to pay CGT.

    If it’s in your Mum’s name and she lives in it the it will be CGT free. Perhaps you could get some kind of undertaking that you mum leaves the property to you in her will in return for you helping now.

    Hmmm – just remember though, if this turn sour it’s the sort of thing that A Current Affair will love to run a story on

    Hope this has helped.

    Bye,

    Steve McKnight

    **********
    Remember that success comes from doing things differently.
    **********

    [:D]

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