Forum Replies Created
Hi Guys,
Thanks for your replies!
In regards to the losses – every year obviously our income from the rental property is less that the expenses – interest on loan etc etc…there are alot of things we can claim – when I fly back to Perth that can even be claimed!!! — resulting in a loss….Anyway every year that loss builds up and it can be used to offset any capital gain.
Our accountant here is originally from Perth and he deals with all non-resident issues. He keeps reminding us that the Australian Expat is the “luckiest person on earth” :)and they key is to keep building up losses by more property acquisition over time as long as we continue to achieve increase in value in the properties.
So each year we accrue our tax losses which can be used to offset capital gain on any property when sold. The losses are offset in the order of sale of properties. Therefore we have to start building up the losses again to offset the CG from the sale of the next IP.
See ya, Mei
Hi everyone,
I have a 1991 ford capri which my sister has laid claims to as I have not been in Perth for the last 9 years!
We don’t have a car as we are working in Singapore and they are soooo expensive over here.
For example – my cousin just bought a subaru impreza for $80,000. Toyota corollas go for $60,000 and a lexus which my husband wants to get next year is $120,000…CRAZY!!!
It’s because on top of the purchase price of the car you also have to pay for a COE – certificate of entitlement….which is alot of money!
I’ts ok not having a car here as the public transport system is very good. We will need one next year though as we have just had our first child.
See ya, Mei
Hi Kenneth,
Thanks for your contact details. Travelling this week. Maybe we can catch up when you get back from Perth.
Mei
Hi,
We have the same problem as Carlin….
Our tenant – who has been evicted – owes us about 6 weeks in rent… but we have another problem re: the bond.
Jodie (the tenant who was evicted) was in the property for about 2 years but prior to that her brother in law was our tenant.
When Jodie moved in our property manager did not ask her to pay a bond or change the initial bond to her name.
So we are stuck with no rent for 6 weeks and no bond to cover this as it cannot be released as it is under the brother in law’s name and he refuses to sign to release it to us as there has been a family rift and they don’t speak to each other.
Arrghh!!! some times I think – “is it worth having tenants and all these headaches???!!!”
Mei
Hi Simon,
Could you explain what a 6 year CGT exemption is?
Thanks, Mei
Hi Ausprop,
This GST refund only applies to non-residents -are you living overseas?
Mei
Hi Rellie,
If builders would do that – take one as payment – then it would save the hassle of getting finance to build…
I still think it is a good idea… I’ll look into it and ask some builders I have come to know.
Have you actually bought your place in Midland yet?
Talk soon
MeiHi Guzzi,
Looking at Land up that way too.
Who are the developers?
Can you tell me how big your block is and how much you got it for?
Thanks, Mei-Lin
That is a great idea…. we are thinking of devloping one of our properties next year and building 3 villas/townhouses too.
If you find a builder who will do this – please let me know….
Thanks, Mei-Lin
Hi,
Looking at investing out of Perth – Lancelin, Bridgetown, Bunbury etc..
Anyone have any opinion on this?
Thanks, Mei
Hi
In 2002 my cousin bought a 2 bedroom apt in Waldorf. We bought in Observation Rise in Scarborough.
Was chatting to her the other day. Their apartment has only gone up about $30,000.
Ours doubled in that time.Regards, Mei-Lin
Hi PT,
I am an expat working in Singapore and I did my loan remotely with commbank.
Did you know that the ATO have brought out a new ruling that all overseas investors did not have to pay GST on any fees re: rental properties.
So you can get back GST paid on management fees/selling fees/and all repairs etc from the 1st july 2000 to the 1st April 2005.
My refund comes to about $3000 so it’s worth looking into for anyone who is in the same boat.
See ya
MeiHi,
Looked at the scott park website – I can’t find any prices on there – could you point me in the right direction.
Thanks
Mei-Lin
hi
anyone got an opinion on investing in land in country towns???
bridgetown?
lancelin?
thanks
Thanks for the info Ned.
Was looking on the website and can’t see SeaHaven.
Under the “select stage” prompt I can only see a whole lot of stage numbers. What stage number is SeaHaven?
Thanks, Mei-Lin
Hi Ned,
Thanks for that. Is there a website of the estate or a phone number to the sales office?
Is your block titled? How many stages in the estate?
Thanks, Mei-Lin
Hi Ned,
Interesting information!!!
What’s the name of the estate you bought into?
I have sent you a PM(personal message) asking more questions:) Would appreciate if you could email me.
Thanks, Mei-Lin
John,
Thanks for your thoughts on Wellard.
The only concern I have is that – the website only advertises 12 stages but when I called he said its a 10 year plan and up to 30 stages – so like Marisa said about Lakelands – too much land??? and may affect resale later on?
Mei
Hi,
We have two properties in Westminster.
One is a triplex block – 850sqm – just valued at $290,000.
The other is a quad block 1028sqm which we have just sold for $330,000.
We are looking at investing the money from that sale into land between Perth and Mandurah.
Marisa suggested Singleton Heights. We are also looking at “The Village at Wellard.”
Anyone else have any suggestions? or views on the above 2 estates.
Thanks, Mei-Lin
Hi again Marisa,
Thanks for your suggestion on Singleton Heights. I think it is great and will probably be buying a block there soon.
Just out of curiosity – which stage did you buy into and which block did you get?
Regards, Mei-Lin
