Nan replied to the topic When I sell my IP, do I need to pay off negative gearing i claim from tax return in the forum Help Needed! 7 years, 7 months ago
as per above, only capital allowance will add to cost base when on-sell the property. The tax claims from Plant and equipment wont add to cost base. Is this still applied to new budget rule?
For the new budget rule, plant and equipment depreciation deductions is only for those expenses incurred by investors.
how do you think it will affect the…[Read more]
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Nan replied to the topic Some tax questions regarding subdivision? in the forum Help Needed! 8 years, 3 months ago
Thank you legends
Currently we live there and plan to demolish the house and build two.
To get the best profit, after we demolish current house and build two, is it better to sell one as PPOR and live in another one? And It will be CGT free?
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Nan started the topic Some tax questions regarding subdivision? in the forum Help Needed! 8 years, 3 months ago
I want to subdivide my own house.
After completion, if I sell both of them, do I need to pay any tax for the benefit?
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Nan replied to the topic Do you think it is time to go fixed interest rate? in the forum Legal & Accounting 8 years, 6 months ago
Thank you Pimobpo and Benny. You mentioned a lot of areas I did not consider before. This post will help others who have the same question. Thank you as always.
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Nan started the topic Do you think it is time to go fixed interest rate? in the forum Legal & Accounting 8 years, 6 months ago
As the interest rate is low at the moment, although it is expected to have another cut, do you think it is good timing to change to fixed interest rate now?
What do you guys think?
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Nan replied to the topic The questions regarding renovating the house before settlement date in the forum Legal & Accounting 8 years, 6 months ago
Thank you Jason and Terry. It is income deductible, so it will be claimed under ‘repair and maintenance’?
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Nan replied to the topic Do you need receipts in able to claim investment property tax return? in the forum Legal & Accounting 8 years, 6 months ago
very good point blackhotel. I agree with you, ATO ask for receipts. The hand written receipts are receipts too. That is my understanding too. Anyone correct us if we are wrong:)
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Nan replied to the topic The questions regarding renovating the house before settlement date in the forum Legal & Accounting 8 years, 6 months ago
Thank you Benny, what you said make a lot of sense.
Anyone from this forum did this kind of arrangement before?
Cheers.
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Nan started the topic The questions regarding renovating the house before settlement date in the forum Legal & Accounting 8 years, 6 months ago
Hi everyone,
Thank you in advance.
We are going to make an offer to an IP, finger crossed we can get the house.
I want to put a condition on the contract, ‘get access to house 2 weeks before settlement for renovation’. I believe the owner will agree as we just need to pay more deposit and offer a little more.
I have a questions regarding…[Read more]
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Nan replied to the topic Do you need receipts in able to claim investment property tax return? in the forum Legal & Accounting 8 years, 6 months ago
Thank you Terry:)
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Nan started the topic Do you need receipts in able to claim investment property tax return? in the forum Legal & Accounting 8 years, 6 months ago
Hi,
This must be a very dumb question, lol.
Do we need to have receipts for everything you want to claim for investment propert tax return?
Like lawn mowing, if we have some cash workers to do it for us, but they don’t have tax invoice for us, is it okay?
Also for the home appliance or furniture, if we want to buy second hand from gumtree…[Read more]
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Nan replied to the topic How can I borrow max. loan from bank? Any good broker here? in the forum Finance 8 years, 6 months ago
Thank you Jamie:)
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Nan replied to the topic How can I borrow max. loan from bank? Any good broker here? in the forum Finance 8 years, 6 months ago
Thank you Richard. I will keep in touch.
By the way, I am in Adelaide. Hope it still works.
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Nan started the topic How can I borrow max. loan from bank? Any good broker here? in the forum Finance 8 years, 6 months ago
I have my own house worth around $650K to $700K and now looking for an investment house with purchase price around $600K.
Currently my own house loan is under CBA. I want to borrow as many as I can for my investment. Should I go with Big 4 or find other banks, will they usually lend more loan to clients than big 4 banks?
Are there any good…[Read more]
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Nan replied to the topic Frustrating – Steve and Nathan's success not applicable to current market? in the forum Help Needed! 8 years, 6 months ago
Thank you Benny. The link you shared is a very good post.
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Nan started the topic Frustrating – Steve and Nathan's success not applicable to current market? in the forum Help Needed! 8 years, 6 months ago
Hi,
I have been looking for the investment property for 2 years now and still looking. Steve and Nathan’s property achievement stories taught us to buy property at low price. But at current market, there is no way to buy property under market price and in the opposite way, we have to buy them over the market price. When Steve bought his first…[Read more]
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Nan started the topic Frustrating – Steve and Nathan's success not appliable to current market? in the forum Help Needed! 8 years, 6 months ago
Hi,
I have been looking for the investment property for 2 years now and still looking. Steve and Nathan’s property achievement stories taught us to buy property at low price. But at current market, there is no way to buy property under market price and in the opposite way, we have to buy them over the market price. When Steve bought his first…[Read more]
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Nan replied to the topic why should you seperate your owner occupied home loan from IP loan? in the forum Help Needed! 8 years, 7 months ago
thank you Jamie
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Nan replied to the topic why should you seperate your owner occupied home loan from IP loan? in the forum Help Needed! 8 years, 7 months ago
Thank you Benny and the good guy:).
We just need to separate the personal home loan from investment loans. Is it okay to put all investment properties under one loan? Or for investment properties, it is better to use different banks too?
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Nan started the topic why should you seperate your owner occupied home loan from IP loan? in the forum Help Needed! 8 years, 7 months ago
My broker once told me, it is better to use different banks for your loans, to separate your owner occupied home loan to your investment property loan.
Do you think it makes sense?
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