Bassla, I thought Trust Magic, and Dale’s other manual Tax Battles were a must have. My Uncle borrowed them, and has since purchased both of them also for himself.

Cheers
Mel

Some of these guys don’t even want to play soccer for their country!

Cheers
Mel

Well my first question is why did this person ‘get nothing’? There was lots there to ‘get’, but again it’s the individuals who make the decision to implement or not. I think they say it’s something like 5-10% who will implement, the rest will come up with reasons why they didn’t.

Here are some articles regarding the decision by creditors to liquidate NII. Not real smart IMO because now they will probably get 0c in the $ of what they are owed. As for ‘teaching Henry a lesson’ – I doubt that it will do much damage to his personal wealth anyways.

http://finance.news.com.au/common/story_page/0,4057,8727414%255E462,00.html

http://www.theage.com.au/articles/2004/02/18/1077072711765.html

I think it pays not to fall out with your siblings when big money is at stake!!

Cheers
Mel

AMS, OK, it may not have been a law, but the ATO definitely changed the rules.

Probably for the 01/02 return as that’s the last return I’ve done.

Kitchen cupboards, shower screens, I think mirrored wardrobes(?), and quite a few other STUPID items are now deemed as ‘part of the building’ by the ATO, and therefore only depreciable at the 2.5% building depreciation rate. Crock of s**t if you ask me.

Do a search on the website, or ask any QS or accountant who deals with property.

Cheers
Mel

Westan,

Aussie girls beat Kiwi girls 2-0 in Soccer yesterday!

Cheers
Mel

No Penguin, that’s about what I would do.

You definitely need to see a broker first, to establish what range you can buy in. There’s no point looking at $300K houses when you can only afford to buy a $200K place.

Cheers
Mel

Well spotted Muppet. Congrats Steve.

Hey Muppet, do you reckon he’ll make it ‘down here’ to forum fun to read his congratulatory post?

Cheers
Mel

I believe that the agent is obligated to present all offers. Not sure if it’s the same in all states. A quick call to the REI in your state would clear that up.

If the answer is yes, then call the agency and speak to the principal and inform them that one of their agents has refused to present an offer to their vendor. Unless they are that agent, it usually gets them going.

Cheers
Mel

Penguin Jr

A tender is sort of similar to an auction. You go to see the house, you do all your inspections/research, and you submit a sealed bid to the agent. You don’t know until the closing date whether or not you have won, and unlike auctions, you don’t get a chance to increase your bid. I think it’s this reason that some agents push them at their vendors, cos if the buyer really wants the place, they (may) put down their highest price.

The high deposit? YOu’ve got me there. That’s what I’m questioning too.

Deposit Bond is an insurance bond that you can give to the agent/vendor that basically covers your deposit requirements. If you then default, the vendor goes to the insurance company, and cashes the bond in. The insurance company will then come after you to get their money back.

It means you can put a deposit down without using cash – you may be waiting on a term deposit to mature, the sale of your other house, to sell some shares (at the right time), wanting to use your current equity to borrow 100% for an IP etc. etc.

A Bank guarantee does the same job, and I think personally that it’s a better option.

Cheers
Mel