Linda, I think Derek was referring to calling you ‘sweetie’ rather than anything else[biggrin]

I remember Billfromoz having the same ‘thought’? Esp when his wife asked him who he was emailing?[eh]

Cheers
Mel

calvin

i sure as heck hope you meant that your accountant who set up your trust was the settlor, and not the appointor.

The Appointor is all powerful! Check out

https://www.propertyinvesting.com/forum/topic/9986.html

Cheers
Mel

Jay, after you logon, click the button on the left of screen that says ‘Active Topics’. That will show all topics added to since you last logged on – grouped by forum.

Alternatively, you can choose a timeframe to see those posts that have been created since 15 mins, 30 mins, 2 days etc. etc.

Cheers
Mel

Just spoke to my accountant this morning re my 02/03 tax return. He told me that I made a ‘loss’ of $120K on my properties in that year. Adding to some courses I am claiming, my taxable income for year 02/03 will be -$100K!! Woo hoo for me. Some huge losses to carry forward to this year where I’ve got a reasonable capital gain….. Plus earnt a big income due to being paid out my Rec Leave and LSL in one hit[]

Cheers
Mel

Marc, a couple of things

Talk to all of your daughters, and ask them what the others would think of you trying to help this one out. If they are amenable, then good – if not, dig deep and find out why not. You have ‘helped’ them out by buying that IP with them.

Then as has been said, talk to your daughter and her hubby separately. Hubby may not like taking on any debt whatsoever.

My sister’s husband is like that, and has vetoed many options where they could have purchased and made squillions.

My Dad also wants to help out my younger brother with buying a house. He’s ‘lived a good life’ (except that his GF died in a car crash 18 months ago), and has nothing to show for it. My older brother has a PPOR, and an IP (that I found for him, organised etc. etc.) I own an IP with my sister (two actually), and she has a PPOR. I live at hime virtually rent free.

I haven’t thought about talking to the others about Dad helping my brother (i’m helping Dad to find ways to help) – I’ve just assumed it would be ok. He is especially at a disadvantage in that the house he will be purchasing, is more than double, and almost triple what my other siblings paid for similar or better houses. So he’s going to need a hand with the monthly repayments.

I’ve been working out a way whereby I can help him with that, but at the same time, help out the others – with less of a ‘hand’ as their payments are substantially less also – so in proportion really.

Perhaps you should chat with your daughter about purchasing an IP, and seeing if they can pay that off any quicker by using tax deductions, and any ‘spare’ cash and the tenant of course – maybe that is an easier way to get them ‘into the market’. Of course, if hubby is like my brother in law – it might be interesting…..

Cheers
Mel

hey Kay

Bill’s still very bearish on Canberra, and property in general, so the others of us that meet up don’t invite him when we want to discuss real estate[evil4]

Cheers
Mel

Misty1

If you charge a higher rate than you are paying, you will need to declare income and pay tax. If you charge the same, then it’s a net of 0, so no problem.

If you charge less and try to claim it as a loss, the question will come back as to what ‘investment’ or gain you expect to get out of the loan.

IMO you would be best to charge what you are being charged for a zero effect.

Cheers
Mel

Luke

If you’re going to reno a property – definitely get a QS done BEFORE. This way, you can claim everything you replace as a write off straight away!!!!! then you can depreciate the new stuff.

Cheers
Mel

Cheers
Mel

Awww Mini, don’t cry – actually go ahead – it’s quite ok to cry.

Congrats on 1000 (even tho I’m a little late[blush2]), and congrats on your journey over the last couple of years….

Cheers
Mel