Mark73 replied to the topic Not Enough Deductible Debt in the forum Help Needed! 17 years ago
WowSeems like I have generated some interest here. Thanks everyone for your input, especially Richard! Terry also makes a very good point about how long it would take to get your money back.Doing some calculations on the back of an envelope and assuming that I pay stamp duty on the lot then I am up for about 6k in stamp duty if I wanted to…[Read more]
Mark73 replied to the topic Not Enough Deductible Debt in the forum Help Needed! 17 years ago
Thanks Richard!would this incur stamp duty in the sale of the property?
Mark73 replied to the topic Not Enough Deductible Debt in the forum Help Needed! 17 years ago
Can I have a second opinion anyone?
Mark73 replied to the topic Very concerned about my wealthscore … in the forum Help Needed! 17 years ago
Hi ChrisCanberra just seems crazy to me at the moment, and I am a newbie as I only have one IP and that was my original PPoR but we came to Canberra for work.Appreciate any thoughts you might have on the Canberra market. Particulary if you think it still has further to run? Any thoughts on the new areas like Gungahlin? (I notice the units in the…[Read more]
Mark73 replied to the topic Not Enough Deductible Debt in the forum Help Needed! 17 years ago
In English that says 'we also felt this left us some leeway'!Sorry! Typing too fast…
Mark73 replied to the topic South Coast vs Central Coast NSW in the forum Help Needed! 17 years ago
If you want to be really confused head over to the Somersoft forum where a big debate about investing in the Central coast/Gosford is going on!http://www.somersoft.com/forums/showthread.php?t=33362&page=2
Mark73 replied to the topic How Does CGT work exactly? in the forum Thanks very much everyone 17 years ago
Thanks very much everyone for your help!
Mark73 replied to the topic How Does CGT work exactly? in the forum Help Needed! 17 years ago
Thanks trajik!I believe the house was probably worth somewhere around $180k when I moved out. but what sort of evidence would I require to make that a 'taxable valuation' if you know what I mean? Unfortunately it is a bit too late for me to get a qualified valuer to do it now…. one of the classic newbie mistakes I suppose!
Mark73 replied to the topic How Does CGT work exactly? in the forum Help Needed! 17 years ago
Sorry Terry.Yes I own another property in the ACT and the Ipswich house has been an IP since I moved out of it in 2004. I guesstimate it would now sell for $220-240K.
Mark73 replied to the topic To Renovate or Detonate?? in the forum Help Needed! 17 years ago
Hi AndyThanks for your comments.The purpose is certainly not for short term gain. The goal is to hang on to at least some of the land and come out of the deal with a brand new property instead of a 70 year old one, owing about the same as before.OR, owe more money but keep all the land and redo the 70 year old house to keep it going for a while…[Read more]
Mark73 replied to the topic To Renovate or Detonate?? in the forum Help Needed! 17 years ago
Thanks Hutch.The block is 809sqm.Any other opinions welcome!