No change

SIS, if you look at the reason that the AUD was so high, you’ll see that it was being ‘artificially’ kept at that level by the government. The other countries in the world (I read something about this somewhere, but have no idea where []) were no longer taking us seriously on what our dollar was worth.

So the Govt made the decision to…[Read more]

CT, I guess the question actually is ‘Who will be living in the house?’

If it’s you and/or your girlfriend there will be no tax benefits, but if you buy it as an IP, then there will be.

Cheers
Mel

Mattsa, I can’t find it at the moment, but Steve has some fairly detailed explanations somewhere on this site.

Do a Search either at the top right, or in the Forum Boards search section for the explanations.

Cheers
Mel

Elves, if you own any assets in your own name, that will for various reasons not be transferred to a trust while you are alive, I suggest that you set up a ‘testamentary trust’ which is executed within your will.

The best reason for this is that if there are any kids that are beneficiaries (under 18) they will be taxed on any income as an adult.…[Read more]

Wow. That’s a bit rich!! I use Earth Works. Don’t have their details at the moment, but they’re a two person office and really easy to deal with. Have only used them for two months though![]

Cheers
Mel

Jacqui, was it a PPOR before an IP, or IP, PPOR, IP?

As Terry said, that will define whether or not you have to pay any tax at all. Also depends on whether you live in your own home now also, but can still be done.

Cheers
Mel

Not all of my loans appear on my file – I had a good relationship with a bank manager, and did all loans through him for a while, so they only checked the first time, and then not again. I think most loans with different providers have hit since though.

I don’t think ANY of my credit cards, and definitely not my Grace Bros, sorry Coles Myer card…[Read more]

James, I have no spouse or kids but have a family trust. My parents, siblings, and any nephews, nieces and spouses of any of those are also included, as will be my spouse and kids.

I too am negative gearing – although that will be hard to do without a job shortly[8] – and so am only buying positive investments in the trust. I also doubt very…[Read more]

I agree with Garry. Admittedly, there is no interest repayment if you sell, but you will get rent which hopefully should cover some or all of that.

If you sell, you pocket $200K less $47K less any other costs.

If you refinance, surely you could pull out at least $160K? Although I guess it depends on whether or not that $200K is the 20% equity…[Read more]

I’ve been told that 99/1 is a good way to ensure that the 1% person is on the finance application, and therefore could get the deal across the line. As opposed to guarantors and stuff which are much harder to do these days.

Cheers
Mel

Redwing, I am looking at the same thing at the moment with 3 others. We have decided (actually, I decided []) that we will set it up as a unit trust. This way, if one wants to bail, all that has to be done is buy out the units in the trust, rather than change titles, bank loans etc. etc.

Cheers
Mel

trev, are you working out the neg or pos gearing based on income versus interest, or have you factored in mgmt fees, cleaning fees, rates, etc. etc. etc.?

Cheers
Mel

Suze, does ‘last Dec’ mean only two months ago?

If you can afford to keep the place, and it sounds like you can, or else you wouldn’t have bought it, I would hold on to it. If the Growth is there, and again, water views etc. sounds promising (I don’t know NZ at all), then capitalise on that growth by drawing some equity out to fund your deposits…[Read more]

Hi Ian

I have downloaded, but I am really slack and haven’t installed yet. Sorry []

Cheers
Mel

Hey guys. I’ve just tried the website now, and it took a while to load, but i got to see it. Maybe it should be right for you too?

Chan$, thanks for the offer, but I won’t need that tape after all. []

Cheers
Mel

Wrappack, the people taking my money still are EZYPAY. They sent me a letter in December saying ‘Hey, you better update your VISA expiry date, or tell us new details, cos our records show your card expired 05/03’. They’ve still happily charged my card all those months though. It wasn’t until reading the administrators report that I thought I…[Read more]

Is there some deadly animal about to bite him? (ie a snake?)

Cheers
Mel

ICC One-Day International Championship Table
[ as at 29th February 2004 ]

Team Rating
1 Australia 135
2 South Africa 114
3 Sri Lanka 109
4 New Zealand 108
5 Pakistan 107
6 England 106
7 India 105
8 West Indies 100
9 Zimbabwe 66
10 Kenya 28
11 Bangladesh 0

If the Aussies hadn’t played their second stringers against the Sris in the last game, the…[Read more]

Ha ha ha [] ROFLMAO

Cheers
Mel

No choice Chan. The system will make you wait!

Cheers
Mel