Vegemite is like Rupert Murdoch, born here, but now lives in the US and has US citizenship. Still owns/sells papers here, but money earnt goes back to America.
Did you buy the property initially for you to live in? Are you using the FHOG?
Are you renting at the moment?
You could always move in for 6 months, and then move out and rent it – and claim the CGT exemption as a PPOR for 6 years if you don’t have another PPOR in that time.
Leigh, I would think that a CG focussed property, even if negatively geared, that achieves its required CG, could then be sold, pay down some of the loans you have, or be used to fund further positive IPs, thus reducing a 10 year plan by several years.
Especially if you had bought said CG focussed property 1-2 years ago.
That’s probably very true Andrew – I hope the next boom kicks in again sooner than we all think, so that the equity can skyrocket and move your plans ahead a bit.
From something I read that Muppet posted recently the population is growing, as they let quite a few immigrants in each year (of course, they lose lots as they come here too) but I believe it’s a healthy net gain.
Andrew, interesting theory, and one which I have followed to a certain extent. But now I find I don’t want to work anymore, and so I need some positive cashflow properties that will enable me to not work.
If this means I have to go rural and accept no CG, then that’s fine, cos I have the other properties which are well located and will grow.
Celivia, I’ve got all issues of API (bar one, which I must have lost, cos I know I did have it) and this is the first time that the data has been supplied incorrectly.
As the magazine is published bi-monthly, there are not figures in every one, as they come out quarterly, but not before have the REI supplied the same data twice.
I’m quite intrigued by them saying to Shaun that they ‘didn’t have them’. Perhaps the people he spoke to were the wrong ones to ask that question, and didn’t bother being helpful.
Hi guys, I don’t have a definitive answer – that would be from the accountants, but I’ve been told that 5 is the minimum for tax purposes, some things (can’t remember them either[]) must be 7, and for CGT etc. you must keep for x (5/7?) years after disposal.
You can have Marmite, we have Vegemite, well, actually the Yanks have Vegemite. Weetbix might be all we have left – no, wait, there’s Golden Circle, or so the ads on telly keep telling us.
sigh
And Muppet, I know you said you were ancient, but 50 – I don’t beleive it!![]
There’s a couple that I can think of. FSBO (I think http://www.fsbo.com.au) and ANREPs, can’t remember their website as here they go by CANREPs, so it’s a bit different.