Don’t lose sleep over, investments shouldn’t be done for tax benefits alone and it sounds like you have made the gains you were probably hoping to achieve. Sure, the tax benenfits are an added bonus but should be the be all and end all of investing. I guess the bit your losing sleep over is the bill you may get, get onto a new accountant ASAP and see what your options are.

Having said that, if you can do salary packaging using the “otherwsie deductible” in the future, then that would be your cheapest way to go. It’s a big “if” I guess, it depends upon your employer. There was a thread on it once, but I’m not sure how I can look for it while in this message replying and it sounds like you know all about it anyway.

Otherwise I’d simply hold them, start paying the tax correctly, and see a different accountant regarding what to do about previous tax returns.

Good Luck
PK

I agree with combining a lot of the things said here already:
A) Increase rents over time (may be over a long time thought)
Keep buying more properties to increase the amounts of income you are receiving
c) If you are on a P&I loan then refinance after a few years so your repayments will be less (because the amount you are refinancing is less but over the same term ie: over 25 or 30 years again). I only do this if I need the extra passive income for another loan, otherwise I leave it as is and let it pay down as quickly as possible.
D) Reduce expenses if possible (without letting the property go to rot). If you’ve had a good reliable tenant in the property for a long time then you could also consider taking over the management of the property and therefore reduce one of your expenses.

But everyone’s situation is differnt so you either need to find the one or combination that suits your circumstances.

Ok, I don’t care about the stars as you get to know the regulars and you also soon realise who knows what they are talking about regardless of whether they are regulars or not. However, I guess if I’m using the site I should at least make an effort to know what they are for. I gather the number of stars relate to the number posts, what does the colour of the star relate to?

Regards
PK

Mini,

It was 4 people as their wives were part of it, in his book, Steve mentions living off his wife’s wage while investing money from the Accounting business. In my eyes this means would have been able to get their deposits together faster than say a family on one income.

Still, it’s possible to invest but at a slower rate, that’s all.

Regards
PK

Thanks Kay, will check it out.

Well, 72 hits and no replies, I’d say your question was too hard. If you do find out the answer, can you let us all know?

Thanks Westan, and good luck.

PK

LOL, well, I ditched them and went elsewhere. Wrote a letter explaining that I was unhappy as their fees had increased (by nearly double) in one year and then 12 months later their reward program decreased and as for there idea of having two cards, told them that was crazy. They didn’t even bother to reply. That’s customer service nowadays.[thumbsdownanim

Drinking, Smoking, Gambling…

Some live to enjoy the moment and would think us mad to live for the future as that is what they would see investing to be. It’s just different people with different lines of thought.

Depends on the age of the children. We have a family home with no bath in it and it’s always rented out easily, but usally to families with older children ie: 7 and over.

You could check out the price of just changing one of the showers to one of those “hip baths/ showers”. I’m not sure what they are called but the floor of the shower comes up the sides to create a small sitting bath, and you stand in it for the shower. It’s suitable for small kids without having to change the whole bathroom.

Regards
PK

The good news is,

a) IF investors and nervious and getting out of the market, then it’s time to do the opposite and buy some bargains from those wanting to sell quickly.
b) IF you’ve invested well, then you should have nothing to worry about, simply collect your rents, keep investing and wait for the next cycle.

Can’t see a change in cycle being a big problem.

PK