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melbear
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January 27, 2004 - 1:44 pm
Yep SIS, it’s still being argued. I reckon even if the taxpayer wins the argument, there will be legislation introduced pretty quickly that disallows the whole concept.
Cheers
Mel
melbear
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January 27, 2004 - 1:35 pm
Allan, as ryanmel pointed out, in this scenario, you would need to keep the loans separate. ie $100K is your original loan to buy the property, but now due to incrased equity you could borrow $60K to live off. The interest on this loan is not tax deductible.
I’ve got no problem with that though. I would borrow $60K, live off $50K, and use the rest to make those interest payments, and have a bit of a buffer.
Cheers
Mel
melbear
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January 27, 2004 - 1:20 pm
Damon, if you haven’t already, I’d post this in the Vendor Finance forum – or contact any of a number of regular posters in that forum.
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Mel
melbear
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January 27, 2004 - 1:19 pm
Yay, looks like they’ve got it up and running so it ‘remembers’ us again. []
Yay for Alister []
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Mel
melbear
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January 27, 2004 - 1:11 pm
Gym? what’s that? Is somebody swearing? Surely that’s not allowed?
I did some weights a couple of months ago, supposedly starting the body for life program (good program – if you do it), and I couldn’t walk for 3 days. Then my sister fractured her wrist, so with noone pushing me, haven’t done any since. []
Cheers
Mel
melbear
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January 27, 2004 - 1:03 pm
Ha ha [] I can hear lots of boys in the audience having a bit of a giggle!!
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Mel
melbear
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January 27, 2004 - 5:26 am
Ha. Fat chance of that Big Bad Bill.[}]
Well said Kay. I think the saying is ‘time wounds all heels’ or is it ‘time heals all wounds’?
I guess if you’ve got bad shoes the first one fits.
Let’s all let bygones be bygones and move forward – no use dwelling on the past now is there?[]
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Mel
melbear
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January 24, 2004 - 9:02 am
Hey guys, if you make it a Favourite, and save it so it is available offline you can still play it!!
Cheers
Mel
melbear
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January 24, 2004 - 8:43 am
[]richmond – i’m guessing he meant the eyes and brains (the ones located at the top of the body) []
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Mel
melbear
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January 24, 2004 - 8:38 am
[][][8D][:p][}][][:o)][][^][^][^][^][^][^][:X]
Yay for Richmond!
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Mel
melbear
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January 24, 2004 - 2:18 am
Simon, I thought that the ATO was still not accepting the practice, even though they lost the last battle? Pending resolution of the final one?
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Mel
melbear
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January 24, 2004 - 2:12 am
Richmond, your link has history%20s or something like that instead of history’s.
Bear, if you click on Link 1 – the ‘article’ the guy wrote is actually link 2.
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Mel
melbear
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January 23, 2004 - 12:37 pm
At what level of debt are you considered to be ‘rent reliant’?
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Mel
melbear
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January 23, 2004 - 12:36 pm
It probably would depend why you stopped paying.
I must admit, your comment concerns me. Why will you stop paying?
If it’s so that you can pay off your PPOR the ATO will take a very dim view of it. That is what they expressly disallow.
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Mel
melbear
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January 23, 2004 - 12:33 pm
I too am aggressive – I guess if you own property other than your home, you are seen as such with the weightings given.
I liked the 6 points for consulting a fin adviser!!! If my super falls – it will be my own fault as I do it myself, so there isn’t an option of switching to another manager.
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Mel
melbear
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January 23, 2004 - 9:18 am
Yeah, but Brett is only a hero as a batsman.
I’ve always liked him, and hope that he does pick up his bowling. since his injury he’s been out of form.
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Mel
melbear
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January 23, 2004 - 4:13 am
Get a PM to manage it.
did you find it on the internet or did you physically find it?
have you done your research on the area, the jobs, the people, the vacancies etc.
If it’s your first, unless you jump in and bite the bullet, these anxieties will always stop you.
As I said, if the numbers and your research stack up, do it. there’s lots of investors, but there are lots of houses too.
Cheers
Mel
melbear
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January 23, 2004 - 4:08 am
Originally posted by Still in School:
1975 Year of Rabbit.
Rabbits are affectionate, co-operative and pleasant, with lots of friends. But they can get too sentimental and seem superficial. Ideal careers areas include law, diplomacy or the stage.
Hmmmmm
affectionate
yeah, I guess
co-operative
mostly
pleasant
oooooh, i’ve got some people who’ll disagree
with lots of friends
Nope, not that one.
But they can get too sentimental
Maybe
superficial
Don’t thinks sp
Ideal careers areas include law, diplomacy or the stage.
Haha. None of these – although my memory would be good for law I guess, but I couldn’t think of too much that was worse.
diplomacy – huh. Mum keeps telling me how tactless i am.
stage – not in this lifetime.
Cheers
Mel
melbear
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January 23, 2004 - 3:27 am
Paul, if you put no money in, and it makes you some money each week – What’s the problem again?
If you’ve got the money for the deposit, why don’t you look at perhaps spending some of that on some minor renos, rather than putting in a deposit, and having to then find the $$ for the reno.
If you buy this one, with no money down, that leaves you in a better income position, and still some cash in hand to buy another property, I would go for it.
Cheers
Mel
melbear
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January 23, 2004 - 3:15 am
Richard, the reason it’s a ‘back to back’ settlement, is that title is transferred to you (the first ‘back’) and then immediately transferred to your buyer (the second ‘back’).
Although when you sit and think about it, it can’t work. Before you can sell it, you must own it, and you don’t have the money to own it until you get it from the buyer. So ‘technically’ you couldn’t really own it – or you are borrowing from your buyer (which their bank wouldn’t allow) or the seller is letting you short settle – ie, pay them the money ‘at a later date’ which happens to really be about 5 minutes time.
Cheers
Mel