Queensland tourist replied to the topic If this was your situation, what would you do? in the forum Help Needed! 10 years, 11 months ago
VF, It comes down to your aversion to debt, as you have already stated you own Sydney property outright. If your plan is to own several properties, then IO loans are the way to achieve this sooner. As you stated that your Brighton property will one day become an IP, you should consider switching this to IO sooner rather than later. You can always…[Read more]
Queensland tourist replied to the topic Claiming missed borrowing expense deductions in the forum Richo, Quick search of ATO 11 years, 2 months ago
Richo, Quick search of ATO suggests there is a 2 year limit on individuals and small business.
Give the ATO a ring and they can lead you towards the forms to be completed for amendment.Queensland tourist replied to the topic Cost of first tax return as a landlord… in the forum renel, regardless of the cost 11 years, 2 months ago
renel, regardless of the cost, make sure the tax agent knows their stuff in property ownership as this will cost you big time in the long run.
My wife and I have 3 properties and both work, our last years returns cost $260 each for preparation.
Agent manages 3 depreciation reports and I supply 3 excel spreadsheets with income and expenses sorted…[Read more]Queensland tourist replied to the topic Has anyone got advise on NRAS? in the forum Help Needed! 11 years, 4 months ago
Donna, against the advice given by 'Investily', you can sell within the 10 year period to anyone. You have the choice to offer it to an investor to remain within the NRAS scheme or you can sell it to open market and have the property removed from the NRAS pool.
There is generally a 6 month notification clause if you wish to sell outside of NRAS…[Read more]
Queensland tourist replied to the topic Changes to a rental property in the forum Help Needed! 12 years, 8 months ago
Tuggerwaugh, best to start with the Residential Tenancies Act of Tasmania http://www.austlii.edu.au/au/legis/tas/consol_act/rta1997201/As for phone contact, the best place to start is through Consumer Affairs and Fair Trading on 1300 65 44 99. They are responsible for the Residential Tenancies Act.This change of removing the carpets and NOT…[Read more]
Queensland tourist replied to the topic Off the plan apartments in the forum Finance 13 years, 8 months ago
Hey Dean,Just bought my second IP, this time in Brisbane. Brand new 3 bedroom unit in complex. There were 3 different buyers purchasing same layout of unit who had 3 different valuers from 3 lenders.One came in and valued at the sale price, one valued at sale -5% and mine valued at sale -10%.Exactly the same property but with a $30000 variation.I…[Read more]