Thanks for your reply Benny,

Yes currently 60k after costs which I realise is a good position. And no I am not schooled in shares. I would have an expert help on that fo not. So you are probably thinking I’m a bit mad perhaps! I just thought shares were give me a more diversifIED portfolio. Less risk. Spread the money into different areas. The m…[Read more]

Hi terry, sorry to re-visit this. Just trying to make it clear in my mind! I did check the link but it was overly clear in regards to the 6 year rule. In my scenario of buying and living in house A in year 1, and then buying house B 12 months later in year 2 (whilst putting house A up for rent) how does the 6 year rule work out?

You mention 5.5…[Read more]

Thanks terry, so as an example, if I bought house A in Jan 2020, used it as my main residence, then bought house B in feb 2021, and moved into ihouse B as my main residence (and rented out house A), I’d have until mid-2025 to decide which house I would like to consider as my main PPOR before selling one of them?

This scenario is quite i…[Read more]

Hi Tim, yes I understand you theory on time being a good option for the ATO to ignore my situation and they won’t look back that far, but I’m definitely after a legal loophole (not a tax dodge) that I can use to my advantage which might suit my specific circumstances. I’d hate to find out 10years down the line, thee was something I could have…[Read more]

Hi terry, do you have a link about the above 6 year rule. I tried to search it online but can up with nothing. Thanks :)

Thanks for the feedback guyz. Sorry I’m not very business minded, as i’m Just good at running a successful business! The latter normally looks after everything else! :)

Apparently i can put this capital gain/rollover into my supernnuation account. And seeing as i’m Almost 40 years old with only $35,000 in my super account (eeek!) this extra $125,…[Read more]

Hi tony, sorry I don’t use the Internet much. I hate it in Fact!! Still plugging away at the idea of leasing. I have had 1 agent down in person who was very helpful. All other agents have failed to return emails and voice messages – very disappointing to be honest. I’m looking to lease start advertise in 12 months time, with a view to sell in 24…[Read more]

Hi Jo, sorry I don’t get on here much!! Too busy running round after guests. So I have just secured a mortgage. Thought best to set that up now before I lease the motel. I have put off leasing the motel for another 2 years so I can use that time to improve the figures. Given I have no current mortgage on the motel I have been running in a very…[Read more]

Hi cry, thanks for your response. Yes the rent has been taken out of the 100k. The 100k is just pure profit after wages, motel expenses etc.
I don’t quite understand why if I mortgage the motel, it won’t be tax deductible. The initial money I used to buy the motel (1 mil) was personal savings. This money is just going to be paid back to me. So…[Read more]