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  • Profile photo of qsilverqsilver
    Member
    @qsilver
    Join Date: 2003
    Post Count: 7
    November 14, 2003 - 3:21 am

    I know this reply is a little late but if it helps good. Agreeing with everyone so far yes you have to have the property for 12 months and a day with the dates calculated from the day you sign the agreement regardless of settlement dates to be entitled to the 50% deduction. Also you are able to claim on every cent you put towards the property ie. rates, bills, interest payments, improvements, as well as the purchasing and selling costs. This can dramtically reduce the profit that gets added to you income and hopefully save you some tax.

    I hope this helps.

    chris

    Profile photo of qsilverqsilver
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    @qsilver
    Join Date: 2003
    Post Count: 7
    November 14, 2003 - 2:36 am

    That answers my question, Thanks Rod

    Keep up the good work I am only just rediscovering this wonderful world of investing and every bit of info helps.

    Cheers

    chris

    Profile photo of qsilverqsilver
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    @qsilver
    Join Date: 2003
    Post Count: 7
    November 14, 2003 - 2:27 am

    Thanks

    Do you own any IP interstate if so is it still in the 5% – 10% range? How reliant on the managers are you and how often should I check my properties myself?

    chris

    Profile photo of qsilverqsilver
    Member
    @qsilver
    Join Date: 2003
    Post Count: 7
    September 8, 2003 - 6:08 am

    Thanks to everyone for the help!

    I am happy to know that I can still use the FHOG at some later stage and can still buy some IP’s first.

    (Thanks for the link simon I’ll check it out)

    Chris

    Profile photo of qsilverqsilver
    Member
    @qsilver
    Join Date: 2003
    Post Count: 7
    September 8, 2003 - 3:22 am

    Thanks Simon

    As I have no intention of actually living in the property, even for three months. Is it a safe bet to say I can not use the FHOG for the IP? Also if I do purchase an IP and not live in it does that purchase or further IP purchases make me ineligible for the FHOG when I want to buy a HOME.

    Chris

    Profile photo of qsilverqsilver
    Member
    @qsilver
    Join Date: 2003
    Post Count: 7
    August 15, 2003 - 12:29 am

    Thanks Rie,

    Ive tried the website and it is very useful
    cheers![:)]

Viewing 6 posts - 1 through 6 (of 6 total)