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    September 11, 2003 - 3:30 am

    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 express yourself, No problem can withstand the assault of sustained thinking.

    Michael
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    September 11, 2003 - 3:17 am

    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 [:O]

    So spend $500 – $5000 to get possible 440K for your home, who knows you sell it for 20% more as I did from my first & second.

    Good Luck

    Michael
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    September 11, 2003 - 3:05 am

    [:)]

    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, there ARE persons out there that know maybe even construct these POSSIBLE changes. [;)]

    You can’t solve a problem with the same kind of thinking that created it.
    Imagination is more important than knowledge.     (A.Einstein)

    Michael
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    September 11, 2003 - 12:15 am

    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 strategy.

    Do the maths, be the vision. [;)]

    Do what you can with what you have where you are. (Teddy Roosevelt)

    Michael
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    September 11, 2003 - 12:00 am

    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 still has no intentions of being employed, he is a qualified non – practising solicitor & his wife is a naturapath. There 9yo boy will excel in surfing & 7yo daughter will excel in dancing.

    I did however ask ” what if you get asked by the owner to leave the caravan park one day “, his reply was ” if we can be happy here we can be happy anywheres “.

    My thoughts are:
    Basically, life is so simple.
    Happiness is made to be shared.

    Michael
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    September 10, 2003 - 11:34 pm

    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
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    September 10, 2003 - 11:26 pm

    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
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    September 10, 2003 - 10:52 pm

    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 [:D]

    Michael
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    September 10, 2003 - 10:46 pm

    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 ( best on the forum in my opinion ) as you wish, & remember the only silly question there is , is the one NOT asked ! [8D]

    Good Luck [:D]

    Michael
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    September 9, 2003 - 6:11 pm

    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. [:D]

    Michael
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    September 9, 2003 - 5:56 pm

    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
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    September 9, 2003 - 5:44 pm

    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 !!! [:O]

    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. [B)]

    This concept of not having it on you can work on cash as well, ya can’t spend what ya don’t have. [;)]

    Michael
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    September 9, 2003 - 5:34 pm

    Thank you TerryW,

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

    [^]

    Michael
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    September 9, 2003 - 7:38 am

    [:D]

    Ignore the or is !

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    September 9, 2003 - 6:01 am

    Westan thank you,

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

    Michael

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    September 9, 2003 - 4:43 am

    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
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    September 8, 2003 - 5:46 pm

    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
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    September 5, 2003 - 6:15 am

    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]

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    September 5, 2003 - 6:10 am

    Congrats Terryw,

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

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

    Michael
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    September 5, 2003 - 6:04 am

    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
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