shane, it does also depend on your strategy after paying off the non deductible debt.

If you want to buy more properties, faster, then IO all the way helps towards that aim. If you want to feel ‘secure’ that your debt is decreasing, then you would probably want to take P&I loans.

All loans I have are IO…

Cheers
Mel

Hi Trish

Welcome to the forum. There is no ‘tax deduction’ as such for your kitchen, because Kitchens are now considered part of the building.

Buuut, there will be depreciation (at a massive 2.5%) available on the cost of it…

Cheers
Mel

Just4fun, if you make a profit, then yes, you will be taxed. However, is that not the point? I’d rather pay tax, cos that means I am making money, rather than get a refund because I have been losing money.

Steve didn’t cover any depreciation benefits in the book either – he views that as a bonus, and not the reason for investing. I think it…[Read more]

Mike – don’t pay these guys to do that for you!!!

A LOC is quite similar to your offset account – but costs more, so you don’t need to change it. It works the same as putting all your money into your offset account – saving interest etc.

As for buying a new apartment that costs you each week, you could easily do that yourself too!! If you…[Read more]

Andreaw

Check out the sticky post by Jaffasoft in the Help Needed section. It has lots of helpful links, and one to where on the site Steve has provided an explanation…

Cheers
Mel

Cool gmh! The other question I have is..

With our privacy laws, the ATO can get any info from anywhere to make sure we’re paying the right tax – that’s fine. BUT, are they then allowed to pass that info on to a third party….? For a completely different reason to why they collected the info?

Cheers
Mel

The FHOG is a Federal initiative administered by states. The ‘disqualification’ comes in if your son has ever lived in that home..

Mortgage Hunter’s website has all the links for all states…

Cheers
Mel

Before I forget – I have no problems with parents being paid the $600 bonus. Without future generations this country is stuffed, so my hat is off to them.

I heard on the radio this morning that somebody (can’t remember who) is concerned that women are trying to get pregnant JUST to get the $3K bonus that will kick in next FY. If that’s true I…[Read more]

Chan, it wasn’t aimed at you individually, but rather at all the smokers who suffer large health problems later on – like the awful emphysema, and lung cancer etc. etc. If they’re public patients, taxpayers are funding their treatment – and yes, they will have paid tax too….

When my Uncle was on life support a few weeks ago, my Aunt was told…[Read more]

Radike Samo is another that was poached from another country – Fiji.

I don’t know how we expect these other countries to improve if we steal all their good players and call them ours…

Cheers
Mel

Maybe you could ‘buy’ the extra metre from your neighbours?

Cheers
Mel

Hey Marisa

Do you want to start up a new post, and add/edit it as people suggest some others? I’m supposed to, but I’m lazy [biggrin]

Jaffa is then going to add the post to his helpful links page, so that hopefully we’ll have a definitive list that all newbies can go to – or anybody that doesn’t use them often…. like me. (Except for PPOR and…[Read more]

[lmao]Block Envy[biggrin][guilty][lmao]

Cheers
Mel

For starters, I have not evaded any tax….

Rob, what about people who use Steve Navra’s Cashbond strategy? That qualifies as ‘income’ from a bank’s point of view, but all you are in fact doing is ‘drawing down’ on your own equity. That’s what I’ll be doing – using my equity to fund my repayments – in effect, capitalising the payments…..…[Read more]

In QLD you can’t go past the reno kings – I think http://www.renos.com.au

Cheers
Mel

Hang on Rob. When signing a contract to buy – you are not liable for any CGT. This is my point. CGT is payable when you sell. So it can be to your benefit for the ‘ownership’ to start from signing a contract to buy!!

Cheers
Mel

But Rob, if you listen to the Treasurer, you need to produce 3 kids for the good of the country. At the moment I’m happy for somebody else to take on my quote – Sue’s done her bit and then some, so that takes a bit of pressure off [biggrin].

I don’t think $600 is going to encourage people to rush out and have kids – it’s a one off. But I do…[Read more]

Rob, my declaration is more than I earn. My broker did not tell me what to declare. he merely showed me the figures required by the lender to get the loan through. I made the decision to declare that I earn that much. My broker is awesome!! Simon referred me to him, and I’ve since referred some other business to him, and will again in…[Read more]

Sue, on the Low Doc loan I just got, I declared a (little) bit more than $90K as my income…

The lender told my broker to make the loan ‘fit’ the guidelines, as they were more than happy to lend us the money……

I’m guessing I should be worried about now ????

Cheers
Mel

Rob, I’m not sure why the problem?

For a contract I have signed to buy, I’m more than happy for the start date to be then – it means that your 12 months kicks in immediately, and there’s absolutely no problem in having to pay any money or anything to anyone……

It’s the fact that when you sign the contract to sell that I think would bring…[Read more]