Total Members: 159,194

propertyboy

  • propertyboy replied to the topic Tax deductibility query for acquisition in the forum Help Needed! 4 years, 3 months ago

    So if I move back into the property and it becomes my principle place of residence and put 800k into the redraw then redraw to buy a new property for $1m (80% LVR). Are you saying none of the interest is deductible against the rent of the new property? The ATO tax guidance appears to outline it will be.

  • propertyboy replied to the topic Reclaiming GST on subdivision in the forum Legal & Accounting 4 years, 3 months ago

    what is the best structure for buying a property to subdivide then sell half the land at back and keep the front property?

     

  • propertyboy replied to the topic Tax deductibility query for acquisition in the forum Help Needed! 4 years, 3 months ago

    The loan limit is $1m (800k relates to the first purchase and 200k top-up).

    800k cash sits in the offset ($200k of this was from the top-up that was never spent – just sitting in offset)

    If I take the 800k and put in the redraw then take it out to buy a new property, will the full 800k be deductible?

  • propertyboy replied to the topic Tax deductibility query for acquisition in the forum Help Needed! 4 years, 3 months ago

    The loan limit is $1m (800k relates to the first purchase and 200k top-up).

    800k cash sits in the offset.

    If I take the 800k and put in the redraw then take it out to buy a new property, will the full 800k be deductible?

  • propertyboy replied to the topic Reclaiming GST on subdivision in the forum Legal & Accounting 4 years, 3 months ago

    can a propco/opco structure be setup in australia similar to the uk to be able to deduct?

    So it makes no difference if buying in personal name or trust?

  • propertyboy replied to the topic Tax deductibility query for acquisition in the forum Help Needed! 4 years, 3 months ago

    Hi Terry, what do you mean by my loan being mixed?

    If I move back into the property as my principle place of residence and put $800k into a redraw and redraw to buy another property will the interest be deductible against the rent of the new property? I am redrawing (borrowing) to invest in the second property.

     

  • propertyboy started the topic Reclaiming GST on subdivision in the forum Legal & Accounting 4 years, 3 months ago

    Hi all,

    I am looking at buying a 750 sqm site and gaining planning to subdivide into 2.

    I may just look to sell the second land vacant or build out and sell both.

    Please can you advise the best tax effective structure to buy. Is there a way I can structure to reclaim the GST inputs on the build costs?

    Also, if I don’t build but just sell 50%…[Read more]

  • Hi Everyone,

    I am looking at the feasbility of buying a 750sqm site and subdividng.

    Please can I ask for rough all-in costings psm to build:

    1. 2 two storey townhouses on the site;

    2. 2 one storey townhouses on the site.

    3. 2 two storey townhouses on the site; and

    4. 3 two storey townhouses on the site,

    It would be great to hear from…[Read more]

  • propertyboy started the topic Cost to build townhouse melbourne in the forum Help Needed! 4 years, 3 months ago

    Hi Everyone,

    I am looking at the feasbility of buying a 750sqm site and subdividng.

    Please can I ask for rough all-in costings psm to build:

    1. 2 two storey townhouses on the site;

    2. 2 one storey townhouses on the site.

    3. 2 two storey townhouses on the site; and

    4. 3 two storey townhouses on the site,

     

    Many thanks

  • propertyboy started the topic Tax deductibility query for acquisition in the forum Help Needed! 4 years, 3 months ago

    Hi All,

    Below is my situation. Simplified numbers for ease

    1. I purchased a $1m property with $800k debt.

    2. Value has gone up over the years and I have refinanced the debt to $1m (200k top-up)

    3. All the refinance proceeds have been deposited into my offset account as have all my savings. I currently have $800k sitting in my offset account. I…[Read more]

  • propertyboy started the topic Tax deductibility query for acquisition in the forum Help Needed! 4 years, 3 months ago

    Hi All,

    Below is my situation. Simplified numbers for ease

    1. I purchased a $1m property with $800k debt.

    2. Value has gone up over the years and I have refinanced the debt to $1m (200k top-up)

    3. All the refinance proceeds have been deposited into my offset account as have all my savings. I currently have $800k sitting in my offset account. I…[Read more]

  • propertyboy replied to the topic 25k homebuilder handout in the forum Help Needed! 4 years, 5 months ago

    The property is in my name and I am an australian citizen (but married to a non citizen).

    Has the government provided full guidance yet on this with all the criteria?

  • propertyboy started the topic 25k homebuilder handout in the forum Help Needed! 4 years, 5 months ago

    Has the government released a formal fact sheet or act on this?

    I own a property in my own name but am married. Wife is not an aus citizen.

    Would I qualify?

    I make more than 125k but together less than 200k. Income was made overseas but we are moving back to Aus next month.

    Very unique scenario so want to know if I can get it so best to read…[Read more]

  • propertyboy replied to the topic Victoria – 6 month eviction moratorium due to Corona in the forum Help Needed! 4 years, 7 months ago

    I would not be asking to serve a notice to vacate because rent has not been paid rather would be serving a notice to vacate due to the lease ending. Am I still able to do this?

     

    “The laws apply for six months from 29 March 2020. If you have served a notice to vacate on or after 29 March 2020 to a tenant who cannot pay their rent because of…[Read more]

  • propertyboy replied to the topic Victoria – 6 month eviction moratorium due to Corona in the forum Help Needed! 4 years, 7 months ago

    I would not be asking to serve a notice to vacate because rent has not been paid rather would be serving a notice to vacate due to the lease ending. Am I still able to do this?

  • propertyboy replied to the topic Victoria – 6 month eviction moratorium due to Corona in the forum Help Needed! 4 years, 7 months ago

     

    Looks like this is the act

     

    COVID-19 Omnibus (Emergency Measures) Act 2020.

    Is this enacted? Does someone have further clarity on my issue above?

  • propertyboy replied to the topic Victoria – 6 month eviction moratorium due to Corona in the forum Help Needed! 4 years, 7 months ago

    Is this the act?

     

    COVID-19 Omnibus (Emergency Measures) Act 2020.

  • propertyboy started the topic Victoria – 6 month eviction moratorium due to Corona in the forum Help Needed! 4 years, 7 months ago

    Hi All,

    I have a rented property and I am looking to move back into it as my Principal Place of Residence.

    If the current tenant does not move out on the end date of the lease following the Corona changes does that mean I am not able to evict the tenant?

    Or does this only apply if they stop paying rent during the lease term? This would seem to…[Read more]

  • propertyboy started the topic Landlord Insurance – Corona virus in the forum Help Needed! 4 years, 7 months ago

    Anyone started looking at clauses in their policies or had a tenant stop paying rent due to coronavirus and start looking to claim?

    Please keep updated.

    My policy excludes government quarantined events.

    On a separate note, If landlords are to get a holiday and have to pay back capitalised debt logically I would think the same logic should apply…[Read more]

  • propertyboy replied to the topic CGT in the forum Legal & Accounting 4 years, 7 months ago

    Thanks Mark, appreciated.

  • Load More

propertyboy

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