With gov. searching for $$$$ so they / our country can be ” secure “, would it not be a good strategy from the gov. perspective to find this extra revenue through what may be seen as a win / win situation for them.

My apologise for putting politics in this discussion, but The secret of life is that there is no secret of life.

Please feel free to…[Read more]

Hiya there,

Absolutely, the cheapest way that I’ve done is to get a feng shui expert to go through the house, this may cost $500 – $2000 maybe even upto $300 extra on suggested upgrades. But in the end it could add up to 40K to your home []

So spend $500 – $5000 to get possible 440K for your home, who knows you sell it for 20% more as I did from…[Read more]

[]

So what you are saying Stu is that you have no idea if rates will stay as they are for the next 20 years ! [?]

What I’m trying to invite to all is, do people think all will be as good as it gets for some time or will EVENTUALLY some thing happen.

I prefer to NOT use a crystal ball either, however I am interested in direction .

By the way,…[Read more]

Hiya Julie,

My partner works & earns enough for living expenses for whole of family, my income of both day job & IP’s ( +cashflow ) is saved for deposits in an offsetting account. We purchase with 20% dep at the moment every 6 months, we feel in time that we may if we choose to go in that direction , purchase IP’s monthly using this type of…[Read more]

Hiya again,

Food for thought.

I know of a gentlemen who stopped working @ 29 yo, owns 3IP’s & lives in a caravan park along a beautiful coast line. He also has a loving partner & 2 kids ( 1 boy 1 girl ). There sole income is the 3IP’s ( ~ $600 less taxes ), I am yet to see a happier family group.

He borrowed for his first IP @ 19, now @ 36 he…[Read more]

Very interesting,

My accountant seems to be under the impression that costs of $200 every year would be in order !
Even if no trade is occuring [?][?][?]

Crashy also raise a good point :

What happens if you trade for a few years then stop trading, can you stop the BAS statements?

Michael
just be

Hiya,

Curious TerryW , Quote :[i]Some of these need 2 years self employment history, which they prove by the date of ABN registration.

If you have registered an ABN & have had it for 2 years or more, will the banks still look at it if you havn’t done any trading for the whole period from rego ?

Michael
just be[/i]

Hiya

My advice is , be patient & do not be in a position where your bordering on mortgage insurance perameters. That way you’ll enjoy the POWER & CONTROL of being on the front foot !

Good Luck []

Michael
just be

Greetings & Welcome Casey H []

I was once apon a time in an almost exact situation, my next move was to do research. For an excellent start read Anita Bell’s ” Your money ” & then ” Your mortgage “. When you FULLY understand all it has to offer then grab Steve’s book & read that ! ( I read it three times [:0)] )

Ow & also ask as many questions (…[Read more]

Hiya Darren,

Read then re read, some great books are Anita Bell’s ” your money ” & ” your mortgage “. [^]

Of course Steve’s book ! []

And not to forget to mention this forum, priceless. []

Michael
just be

Hiya George,

Star by spending half & saving the other half, then after a while spend a quarter & save three quaters. Then before ya know it Saving it becomes second nature. Take small steps at a time !

Make it as simple as possible but no simpler. (Albert Einstein)

Good Luck

Michael
just be

Hiya Apollonia,

The day I started to save money was the day I filled up a glass of water & put my credit card in it ! Then I put it in the freezer !!! []

You’ll be surprised how less you use it, then even more surprised to know that it’s REALLY not needed as much as you think it is. []

This concept of not having it on you can work on cash as…[Read more]

Thank you TerryW,

My knowledge is increasing, thanks to this forum & people like yourself.

[^]

Michael
just be

[]

Ignore the or is !

Westan thank you,

Why corporate trustee ?
Can you give me a qwik summary for & against ?

Michael

Basically I’d like to buy at least one new car, I thought that instead of just purchasing one in my name I could start the trading from the trust knowing that income generation will not occur until maybe this time next year ?

Michael
just be

Hiya Mel []

Generate zero income in this financial year only, then in the next year put some IP’s in the family trust. Say this is done around the April – June time of 2004, then come July – August will be trading with both income & expense .

Is it possible our does ATO not allow ?

Michael
just be

Go to the ATO, fill in a Form NAT 2036 – 3.2003 .
Then work out a way that the ATO will be happy that you basically pay zero tax. ( 100% tax deductions = 0% taxable income ) []

[8]

Congrats Terryw,

Science is organized knowledge. Wisdom is organized life. (Immanual Kant)

Thank you for sharing your wisdom with us all.[]

Michael
” just be ”

Hiya vluu,

The real question is how comfy you would like to be, I have friends that are comfy on 30K pa & some on 500K +.

When you feel you are ready, & only then will that happen.

Never mistake activity for progress.
You never know what is enough unless you know what is more than enough. (Wm.Blake) [8D]

hope this helps
Michael
” just be ”