Hi Allan,

I like to use the calculators on http://www.yourmortgage.com.au/calculators. You can’t download them but there are plenty to choose from for just about anything to do with a house. For example, you can’t work out stamp duty, how much it will cost to carpet your house, the overall costs involved in buying a house. Very handy!

Luckyone

Hey Susie,

Thanks for that. It’s great for someone to come on hear and offer everyone else a deal that they can’t service themselves at this time. I’ll be looking into that one today and I’ll let you know if I think it’s any good.

Luckyone

That sounds like a great deal Mini! You get extra money, the tenant gets the bike shed and you get the capital gains benefits. Love it!!!

Hi Susie,

If you have the name of that agent I would appreciate it too if that’s OK.

lsheppard@actewagl.net.au

Thanks,
Luckyone

Hello,

I don’t know about in NSW, but in the ACT we have to notify the revenue office within 30 days of the property becoming liable for land tax (i.e. being rented out). Did you do that originally?

Luckyone

Hello All,
I just tried to access kazaalite.com and it says that the service can’t be found. Anyone else having trouble?
Luckyone

Forgive me if I’m wrong, but that doesn’t meet the 11 second rule unless they are all rented out at $85 pw?

Hey Arty,

You would still end up getting a tax break for the -ve cash flow property. It would just be offset against the +ve cash flow properties. It would just mean that you end up making less of a profit. You still get the same tax break.

Luckyone

You are best off leaving your 2 loans as 2 loans as if you combine them into 1 loan the interest on the home you live in will not be tax deductible. This also makes it very difficult at tax time as you need to prove how much you paid off each loan and the tax office will basically say “Hey you paid half of each, not 2/3 of your home loan and 1/3…[Read more]

You are best off leaving your 2 loans as 2 loans as if you combine them into 1 loan the interest on the home you live in will not be tax deductible. This also makes it very difficult at tax time as you need to prove how much you paid off each loan and the tax office will basically say “Hey you paid half of each, not 2/3 of your home loan and 1/3…[Read more]

Hi Peter,
We have had the same trouble with both of the banks we have dealt with for home loans. They said to us that we were paying for the valuation to get done for them, not for us. You could try arguing the point, but frankly I don’t think you’re going to win.
Luckyone

Hope you all like this one!

The Cat
A couple was dressed and ready to go out for the evening. They turned
on a night light, turned the answering machine on, covered their pet
parakeet and put the cat in the backyard.

They phoned the local cab company and requested a taxi. The taxi
arrived and the couple opened the front door to leave their…[Read more]

Hi gocats,
In the ACT at least you don’t need to get insurance over the property if it is a unit in a body corporate (but still over the contents) at exchange time as it is covered by the body corporate.

However, if it is a house, I would be getting insurance immediately. I know a couple of people here who lost a hell of a lot of money last year…[Read more]

This is quite amazing!

Aoccdrnig to a rscheearch at an Elingsh uinervtisy, it deosn’t mttaer in waht oredr the ltteers in a wrod are, the olny iprmoetnt tihng is taht frist and lsat ltteer is at the rghit pclae. The rset can be a toatl mses and you can sitll raed it wouthit porbelm. Tihs is bcuseae we do not raed ervey lteter by it slef but the…[Read more]

Hello,
Just thought I’d let you know that you can make any property you own your primary residence for tax purposes for up to 6 years whilst your not living in it. Of course, you can only have 1 primary residence at any time. This means that your investment property would become your main residence and the home you live in would not be CGT…[Read more]