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PeppersGhost

  • PeppersGhost replied to the topic Upgrading a PPOR using Equity in the forum Help Needed! 14 years, 9 months ago

    Thanks Duckster – I was hoping to get a response back that said “that advice is b*llocks”… no such luck. :(

    I personally reckon that tax ruling is absurd… If I had paid money into an offset account – rather than reducing the debt, I could have left a large debt on the original property without any problem – and then used the interest as a tax…[Read more]

  • PeppersGhost replied to the topic This can’t be that hard… can it..? in the forum Help Needed! 14 years, 9 months ago

    Great stuff

    So if I allocate a PPOR, but rent elsewhere and don’t actually live in it, can I then rent out the PPOR to a tenant, and still effectively use it as an investment property?

    Cheers

  • PeppersGhost replied to the topic This can’t be that hard… can it..? in the forum Help Needed! 14 years, 9 months ago

    Okay – so the reason why no CGT is paid, is because the properties are NEVER sold.. now I get it, makes sense I suppose – use the capital growth to borrow more against, rather than accessing the direct financial value by selling.

    Thanks SHales.

  • PeppersGhost replied to the topic This can’t be that hard… can it..? in the forum Thanks for all your help.. 14 years, 9 months ago

    Thanks for all your help.. again..

    The ‘advice’ I got, was that as long as I lived in it for 6 months, it will be CGT exempt for 6 years… REGARDLESS of where I then go and live (as my PPOR or other).
    What you are all suggesting though is, I can only claim CGT exemption whilst the property is my PPOR. I can only have one of these at a time…
    In…[Read more]

  • PeppersGhost replied to the topic This can’t be that hard… can it..? in the forum Help Needed! 14 years, 9 months ago

    Congrats too! Kids are great… apart from that first week out of the hospital… scary as hell. That week for me was like the opening scene of Saving Private Ryan… be warned :)

    So back to CGT…

    I buy a property on Jul 1st 2010
    I move in July 2nd, 2010
    I live in it for 6 months, then move out on Jan 3rd, 2011.

    I sell the property on June 30th,…[Read more]

  • PeppersGhost replied to the topic This can’t be that hard… can it..? in the forum Thanks again.
    The 650K house
    14 years, 9 months ago

    Thanks again.

    The 650K house has been a PPOR for 3 years now – but we need more space.. hence the consideration of moving out. I can’t swing a small baby in here… (my wife wouldn’t let me anyway)

    I’ve always seen rent as “why pay off someone else’s mortgage”.. so never really thought about it as an option, There are a number of ‘old wife’s…[Read more]

  • PeppersGhost replied to the topic This can’t be that hard… can it..? in the forum Help Needed! 14 years, 9 months ago

    Okay – completely understand, multiple lower properties are the go… thanks for the tip.

    Still wouldn’t mind some clarity on the underlying quesiton though.

    Assume instead of the $1m house, I have 3, worth $350k each, all rented at 350 per week.

    Best to rent another place, or use the $650k house as a PPOR?

    Cheers everyone.

  • PeppersGhost replied to the topic This can’t be that hard… can it..? in the forum Help Needed! 14 years, 9 months ago

    A hypothetical situation only… I was using it to work out a few things, if that is an important factor – what about if the house could be rented at $1000 per week.

    Cheers

    Steve

  • PeppersGhost replied to the topic This can’t be that hard… can it..? in the forum Help Needed! 14 years, 9 months ago

    My Super is atrocious, if had to live on that I’d be considering selling a kidney on Ebay.

    Okay – this HAS TO BE mathematical – I would appreciate help in working this out.

    What is the best financial return out of the following two scenarios:

    Facts:
    I (hypothetically) own two houses.
    HOUSE 1 – worth 650k, can be rented out at $450 per…[Read more]

  • PeppersGhost replied to the topic This can’t be that hard… can it..? in the forum Help Needed! 14 years, 9 months ago

    Wow – what I thought would promote a few short responses has provided an overwhelming amount of info. So firstly – a heartfelt thanks to all of you who have taken the time to put finger to key and provide feedback.

    Key points that you have helped me with:
    1. Stop ‘faffing about’ (English term for ‘analysis paralysis’) – get stuck in, it will only…[Read more]

PeppersGhost

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