DerekA good friend of mine used to work for them! I have used them in the past, I had totally fogotten. Cheers.

bjs..Perhaps I can have an accountant go over all my tax returns I have done in the past 5 years and see where I have gone wrong. I know you can amend a tax return but not sure what the time frame is. Cheers.

I guess the consesus is that I just need to get myself an accountant. Anyone in WA who has a good accountant they can recommend? I wanted to get a few ideas together before I asked for an opinion – what is the point of paying someone if there is a straightforward answer I can get from others who have had the expereince? Those were my thoughts -…[Read more]

DerekThank you, that was helpful information.I have considered leveraging, yes. Might have to reconsider that one as it is nearly a positively geared property – but it's taken 5 years! (I didn't know what I know now when we purchased it). Right now we need somewhere to live (tenant most likely can't afford to buy it anyway) so will be moving into…[Read more]

HI again TerrywAre you saying we have to add back any depreciation we have claimed onto our purchase price?? That is something like 30k. Ouch. Can you tell me how that works please? I might just pull out Steves book, I am guessing it should cover this topic. Many thanks!

Hey TerrywThank you. Didn't think about the buying costs! I don't think that includes stampduty though does it? Selling costs would just be settlement fees (that I can think of) as we will be negotiating directly with the tenant on price, etc.

^ That is pretty cool, Dale. Way to go!

Thanks JacM.Not sure what is the best road to take but see your point when it comes to holding onto the property.Cheers

Thanks for your help people! Any other ideas??

Hi Den.That is correct, hubby takes greatest amount of CG as he is the one working – well, for an income that is! Still haven't got myself an accountant and the one I have my eye on is getting married today so might not be available for a while. I have been doing our Tax Return for years, probably a bad thing as might have left a few too many…[Read more]

Derek,Thanks for your time. We have owed the property for 5 years now. It hasn't been a large CG but roughly $150. Our income level is roughly 90k and only one, yes – hubby –  is working. We can claim a loss of $5000 I think plus a few years where I have had a loss due to no income – don't think that will help us much, though? Yes, will be buying…[Read more]

CatalystThanks for that. Had thought of this option, only thing is we don't realise this profit until our 60s?

Hi, yes was a while back. We have it until middle of next year with St George Bank.

Hi all. For those of you who haven't seen the property it is on the market and we had the first home open last weekend. It was a while in getting to this point, with 3 kids and all – and my lack of 'multitasking expertise' but I managed to stage the house myself with a little help from the "finishing touches" manual that was on offer at the mega…[Read more]

I am getting 5.2% but it is a fixed loan, which we got 2 years ago. We don't have as much debt though – only $270k!

MattnzWhat about those properties you get stuck with? It sounds a bit too good to be true….. is it? Have you had some experience in that field?Cheers.

http://www.theaustralian.com.au/business/property/bowen-again-to-be-real-estate-coast-with-the-most/story-fn9656lz-1226121442540Just something I stumbled across… any thoughts?

 //It is little use having housing in places where people do not want to live!//Gulp. I hope someone will buy mine when it's up for sale.

//respected industry analysts now advising they see Australia as Oversupplied with housing// The area in which I live, that is certainly the case.

When I spoke about a company in Perth, yes, they were commenting on here, in our Perth cycle. Not just a sweeping statement of all Perth suburbs (just like you indicated) as there are markets within a market and this company usually promotes certain areas as their research has found that these areas have proven over time to have growth even in th…[Read more]