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So far Macquarie, Rams, City Bank are all no’s
Just spoke with council and they dont have any regulations unless its noisey.
I have a good relationship with the neighbor so will have a chat with them re a screen or relocation.
Cheers..
Hi Scott
I have a Certificate of Assets which lists all fixtures and fittings, their value, their effective life and diminishing value rate.
eg
Value Effective Life DVR
1. Carpets $1000 10 15
2. Timber Flooring $3000 15 10
3. Venetian Blinds $4000 10 15etc etc…
A spreadsheet listing the claimable amounts for a 10 year period was an extra $100 and I figured my accountant would do that anyway so didn’t ask for one. For that matter it would only take me 1/2 an hour to do up a spreadsheet myself.
I just wasn’t sure whether I had to write down the values listed. Unfortunetly 3/4 of his list has a 10year or less effective life so based on what you’ve said those items are nolonger worth anything.
Not sure why the QS bothered to list items such as an ornimental pond pump with a value of $99 and an effective life of 5 years.
Paul
OK I just received an email from my accountant.
Here it is:
“The interest on the line of credit is not tax deductible so your saving will be lost but you will be bringing forward a tax deduction applicable to this year.”
He has recommended I do this for one of the properties and keep the other to IO.
I guess at the end of the day, if you use a LOC, there is no difference between paying out 28K now or paying out 28K over 12 months. You still pay the interest on money drawn from the LOC.
The advantage is bringing the deduction forward one year. That will certainly help me this year.
Hope this helps everyone.
Financial planner? Hadn’t thought of that. Dont they just deal with their own investments?
