Forum Replies Created
Richard & Amanda,
It’s not complex, you simply need to get a sworn valuation for the property (costs about $400) when it is no longer a rental property and becomes your main residence.
If it turns out that you’re looking at a capital loss, then capital gains tax would be a nice problem to have. If a capital gain has arisen, don’t worry because you won’t need to pay it until you sell the place. So if you live there a long time, it’ll be a fraction of the total capital gain you make (unless you choose a really dodgy suburb[
]).Congratulations and good luck with the baby,
Faber (nearly a chartered accountant)
Well Crackles if you insist on being involved in dubious practices, what do you (and others) think of the following :
Build two of the townhouses in such a manner that they are interconnected and then live in them.
You will miss out on rental for the second one but,who knows, you may be making such a bundle that it may be worth your while. [:o)]
Or put your brother or sister or lover in on the deal and then he/she can move into the second one and sell it at the appropiate time without incurring tax.
I note however that this is may be fraught with danger if you are putting someone else in the deal just to avoid tax. And, for that matter, your girl friend may well run off with the profits [
]Tony actually gave you some good advice already i.e. to go and speak to your accountant.
Pisces
Mel, before I summarise what exactly you are looking for let me first ask you whether your present partner is aware that you ‘are on the lookout’ ? (or at least considering your options) [
]O.K. here is a summary :
tall, dark, handsome, in possession of a job and money in the bank, agegroup minimum age 20, maximum age not specified, single (or at the least unmarried).
I don’t quite understand your words “If fit, then preferably under 45!”.
Does that mean that if he is 45 or over he can be unfit and yet qualify ?
What do you mean by ‘dark’ ?
Suntanned ? Black hair? Chinese ? African ? Greek ?What ?
I also note that you haven’t as yet addressed whether you want him to have a lot of hair on his chest.
Do you mind if he is a TV addict ?
A smoker or a non smoker ?
Do you mind someone who absolutely loves garlic ?
Are you looking for a good dancer or is it O.K. if he has two left feet ?
You haven’t even touched the subject whether you want him to be a good handyman.
To answer your question as to whether I know any candidates, the answer is “Yes, I know oodles of guys”.
I am just trying to sort out the undesireables from the ‘must have’ types. I would say that I only have to spread the word and they will be queuing up. [:o)]
Seriously [:o)]
Pisces
Mel, you are avoiding the real issue i.e. how much is it worth to you to get an introduction to a suitable, desireable, partner ? [
]Pisces
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