thnx re; website.very helpful.

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]

“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 WERE INCLUDED. Why does it make me such a twit to ask for confirmation of something that has come from a financial expert, by the way? & me not being one? Isnt this what the the forum is all about? Sharing ideas?
It’s as obvious as the day that MOST people refer to a prop being neg geared if ALL OUTGOING EXPENSES are taken into consideration! DER!!Mind you,even if i didnt know that,& was brand new to this sight,your pathetic response certainly would have put me off ever asking another question! So next time keep your pathetic,useless “answer” to yourself.

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]

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?)

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

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]

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.