Al, I LOVE your saying! “…& chew like hell!”

thnx re; website.very helpful.

Thanx. I think i’d best check my insurances cover all those things.It seems the nver ending list of things we need to buy,insure against,repair,& maintain just gets bigger,& bigger with every purchase…I’m feeling like i’m losing focus on why i’m doing this in the first place.The big question continually looms: “When do we reap the rewards??”

Why did u only keep them going for 6mnths,Jeff?
i figure with that sort of turnaround,u would have kept them going as long as poss?[confused2]

Ok,looks like trust magic is next investment

“Superted” (super at insults) 122 posts & u r obviously still a smart-ass.[angry2] Perhaps u didnt read it properly? The quote from that book which has left me wondering the truth,is that a property is neg geared when the INTEREST payments are more than the incoming rent. THERE WAS NO REFERENCE MADE BY HIM REGARDING WHETHER OTHER OUTGOING EXPENSES…[Read more]

Thank-u crj.

I must be a knuckle-head, ‘cos i clicked on my name,which took me to “edit my file”, which i did, but i cant work out how to bring my quote forward,or still how to put a pic up next to my name![withstupid]

On both?? I kinda thought if u lived in a property within 6yrs, for 1yr (?) as your ppor, that it would be cgt free if you sold it??[confused2]

As an after thought….
What about scenario #2:

If a prop. is partly i.p. (ie I live there & part rent it out), how would 6yr rule apply there??
(eg, if i wanted to sell, & it had been 2/3rd’s i.p. for 3 yrs. Then i lived in it on my own for a while, then sold,would i still be up for cgt? Or any ideas how to get around the cgt?)

I would certainly never willingly leave a potentially dangerous item left unfixed! [thumbsdownanim

It would obviously be yes,as you stated,if i KNEW about it.What if i didnt know about it?

Thanx for such an informative response Tasman, esp. the link! Are you sure your name isnt “taxman”??[biggrin]

That’s really got me thinking now![blink] I had wondered whether it would make me more of a target for our mates at ATO,but wondered whether the benefits would outweigh the neg’s?
Did you end up closing that business,or do you now send in $0 balnce BAS’s ??[confused2]

Thanx Derek.[biggrin]

cheers! great advice/info. As you commented,too many qu’s! But i figure too many is better than none,& jumping in uneducated![biggrin] That’s why i love this forum.Gives me some great info to then take to my accountant for clarification. Thanx.

Melbear,u are one seriously smart/creative cookie! If only i had the knowledge NOW that “veteran” investors have……[eh]

Sounds like the Brady bunch is re-locating….[biggrin]
Why dont you all nut out a way to BUY a house??[hmmm]

Well,even though some of those options may not apply here,most do,& it has certainly made me think more openly! Great post.Thanx 4 taking the time to share those ideas.[biggrin]

wow, youre onto it! Is that what is called “leasehold” ?? If so,i believe there are alot of “out the back of Bourke” places still under that.