Hey Neil

How big is the block? Really suggest you talk to the ACT Planning people about building that second house – if it’s not 1400m or something, they won’t let you have 3 units on it – unless the 1 bed flat is not an approved separate dwelling.

We’ve got a place in Cook that is a 2×2 bed, and thought we could dual occupancy, but no can…[Read more]

fjficm

if you distribute money to the company, and get taxed at 30%, if you then give that to yourself as a dividend, you will still pay your marginal rate of tax on it.

I guess if you were planning on reinvesting, you could distribute to the company, who would then lend it back to the trust to reinvest.

Bearing in mind that that money then…[Read more]

Julian, if you set up another company to own the shares, yes it will be taxed at 30%, but you still will have the issue of getting the money out of that company into your own hands to spend…

I would think a trust would provide more flexibility to distribute the funds than through a company, esp if the income will go up each year…

Cheers
Mel

Hi Corinne

You need to have some fun – but not if you throw away your future ‘fun’. I guess you should work out what you want to do, and how much it will cost, and see if you’re happy to spend that much, and maybe pay down some of the other loans with what’s left over.

It’s really a personal decision, but I wouldn’t want to blow the whole lot…[Read more]

Paul

Maybe you could ‘lengthen’ the terms of your loan with them – ie work out repayments over 40 years, but get them to pay more if they can, and work out a time (say 5 years) where they would need to look at cashing you out – or upping the payments…..

Cheers
Mel

I’m glad it’s got a little quieter. I’m anal, and want to real ALL posts, so when I missed a week and a half at Easter – let’s just say I’ve only just caught up!![blush2]

I also hate to see any questions go unanswered, so even if it’s the 33rd time I’ve answered the same question, I’ll give it a go. Maybe there should be a big welcome note…[Read more]

It’s only Disney who have got cold feet at the moment. And I guess it’s up to them to release it to another distributor if one is willing?

I reckon there’ll be a few internet sites where the doco will be available.

Cheers
Mel

Good stuff[specool]

Awwww, I love a happy ending[inlove]

Cheers
Mel

Marco, there definitely is, but I cannot think who it is at the moment. I’ll ask my Mum – she worked in Childcare centres for 15 years, that’s how come I know as much as i do (which isn’t really much![biggrin])

Do a search on google, or one of the gov websites – there is one that aggregates them all, but I can’t remember it….

Cheers
Mel

Smooth, I agree with what the others have said.

You should possibly consider setting up a trust for yourself – check out Trust Magic by Dale Gatherum-Goss http://www.gatherumgoss.com for a full understanding of how trusts work.

To have a partnership with your friends, I agree with Terry that a unit trust is probably better than a company. That…[Read more]

Personally I would go the townhouse – chances are there are not as many that are identical, and you can do more to differentiate from the others, to perhaps charge a different rent. Plus I reckon people prefer to have courtyards rather than balconies.

Of course, it depends on the area – if it is ‘unit city’, then townhouses may not rent so well…[Read more]

UNLESS you are buying in the ACT….

Cheers
Mel

I just use a normal St George Business Cheque account. didn’t go for the big earning interest one as I knew we wouldn’t have more than $5K in it for long, if ever. At the moment they have 6 months bank fee free deals on all new accounts []

Cheers
Mel

This financial year I have sold two properties, with a total CG for me of $120K (roughly). I’ve only just done my tax return for 02/03, but I am showing a loss of $107K. Carried forward to this year, my income was about $62K with leave all paid out etc., so adding my $60K (half of the $120K) to the $62K = $122K, BUT then I get to subtract the…[Read more]

I know I should be doing regular inspections, especially on a place I own in a ‘bush’ setting, that has been treated for termites, but it is a bit like going to the dentist every year – I don’t! I got my front tooth knocked out 13 or so years ago, and I figure the amount of times I saw him then kept me in good stead for the next 15 years. Didn’t…[Read more]

Stingray, do you have an offset account? I’m guessing not. Could you look into setting one up? then you could leave the money there, and if you redraw to spend on lifestyle from an offset it won’t matter, but from the loan it will…

Alternatively put it in a short term Cash management account and look for property no 3!

Cheers
Mel

Mark, agree with Terry. From my understanding the banks don’t like company title because they can not point to the unit that they actually have a mortgage over, so the security, in their eyes is less….

Cheers
Mel

Hey Redwing, I forgot about that option. I don’t use it though, because I read all the threads, and prefer to click on the left button to move to the next thread.

I think if you wait for it to take you back to this post, you are then also sitting in the most recent post, and so can’t just click on the next one that you were up to….. Anybody…[Read more]

Mike

Jamie’s ‘renting’ of shares appears to be Writing Covered Calls….

Cheers
Mel

Marco, isn’t it business owners who refurbish buildings to make it up to standard for themselves generally?

RE Child Care, I would definitely check if they have everything in place – approvals and standards are extremely stringent. If they have, then it might be a goer, and even if they fall over, there is always massive demand for childcare…[Read more]