Thanks guys… I have lookedat TR 97/23And it maybe that the Window coverings maybe an 'initial repair' as the proprty is not 'suitable for use' for income purposes. any thoughts on my logic….I also had to put a TV antenna in after purchase, I would consider this to, to be an expense as an original repair??Exerpt from Tax Ruling 97/23  Initial re…[Read more]

Actually, there were  no blinds etc.. in the unit … It is brand new ,just completed. so there were no window coverings to start with. Thats why Im confused. I understnd if I replaced old for new due to damage /wear etc… But there were none??

Nothing, however, the over the top interest rates available (income)  from the lenders rely on the RISK being transferrsed from them to you. But once alreaday have a liability (a CGT to pay from a sale for example) the game changes on its head. ,Simplisticly, average punter has to rely on share market losses to offset share market gains , when…[Read more]

Dear Scottt… and v8ghia I'm completely aware of Shares vs Property investores every day of my life….Don't want tot get in a war or words… I am comfortable in understanding derivatives and options on the share marlet side of the ledger.I only propose that there are are opportunities that some (not you in particular may want to explore) that…[Read more]

Duckster ,See my post on CGT and income posted earlier todayThere maybe a fairyland…  I am a Stocks person who has just moved into the property world 1. Grab your CGT liability from the property you have just sold (or will sell)2. Buy investments such as Hi-Notes3. Basically you are buying options on hoping a share price of a stock such as NAB,…[Read more]

Hi Looking to,I'm just about to sign an IP contract for a Unit at Deception Bay with uninterupted water views. Do you have an opinion on the redcliffe/Deception Bay area (not sure where you are exactly located) in general. I'm pretty confident my buy is good value, and I'm banking on the water views as the key to capital growth. (I live in M…[Read more]

Thanks Mike,You can't recommend anyone? My solicitor is charging the upper end.. (which I believe is above the odds) and it has been extremely difficult using internet to find anyone… no-one on this forum has come forward as yet?? Wierd! Cheap lead !!As for banks , your on the money, I organised an Instalment Warrant through online portal, only…[Read more]

Sorry just relaised I didn't answer you question.I am setting up a loan to have the property  held 'outside' SMSF being held in trust for the SMSF, until final payment made on the loan, then the property can be moved into the SMSF.regards

You are probably 100% correct… common sense says thats what I could do. I am not that brave just in case I stuff it up. SMSF lending is very tricky (so I have found out). The bank asked for original 'bare trust' certified from legal . Admittedly it was the first time, so 2nd time round the same requirement may not be required… I haven't…[Read more]

Hi There is risk in any purchase, obviously if you buy into a project where every apartment/unit/house is NRAS then the risk is magnified. There are some projects where only some dwellings are allocated to NRAS, lowering the risk.. you just need to research, research. There are some good opportunities, eventhough most you may find are in…[Read more]

Thanks guys,Thats the problem, the website has the AIQS and I checked their ABN and they are a registered Tax Agent… so it makes it difficult to know how much risk is involved in using their services. I have emailed them to ascertain how they approach self inspection for my curiousity. Tim

Hi Mick, not sure what state your in, but in Melb today on 3AW radio ,they had a segment on power utilities increasing the peak tarrif for electricity by 40% to those who have installleded Solar. Unbelievable they gode you into doing the right thing, and they sting you.. the listeners worked out it will cost them more.CheersTim

Hi Amanda,I haven't signed yet, awaiting contracts. However, I have looked at 50 to 60 various developments and most have headleases. My understanding It is upto the developer to 'decide' how they want to arrange the NRAS payments to be managed. Some are using headleases and some not (NEIJV) . This is my first question to the selling agent, if…[Read more]

Sorry Kris , I won't bother you again, the information is still fuzzy.I already have a Bare Trust set up for Property A and a Security Trustee. I understand I need to set up a new Bare Trust for property B, But the information I have ( and will contact ATO this week) is that the same Security Trustee (that has an ACN) can be used again for…[Read more]

Hi Kris,So we have got our terminology right. I intend to set up a New Bare Trust (old Instalmwnt Warrant terminology) but use the Same Trustee Company to hold the property outside my Super fund. Are you suggesting I have to get a new bare trust (which I agree) and another trustee company with ABN. I will get advise, but the bank have given tacit…[Read more]

Hi Mr501I have done 100 of hours researching NRAS and I have just put down an EOI for a property in Qld. So I'm sold – Do your homework the scheme is brilliant for a number of reasons – one of the few things the Govt got right.website http://www.landordcentral.com.au will show you some of the properties around. The website is a good starting point in…[Read more]

Thanks Kris, excellent info.. helped clear the issue up in my head. I'll check on the land tax issue as I was intending on using the same trust to hold the 2nd property to save money… but this may backfire if what you have suggested has meritI have tried to avoid headlease agreements with NRAS. There are some good properties using Ethan Model.…[Read more]