Forum Replies Created
Was looking into a family loan agreement and came across this post so might add to it…… It seems fairly similar to my scenario but I think mine may be even easier?
My wife loaned me the deposit for an IP earlier in the year – property is in my name. It is now coming to tax time and I would like to claim this as a deduction – ie draw up some sort of family loan agreement and charge interest/charges etc. Is there any problem in this in that we are husband/wife? Or is it relatively simple if we have an agreement, I claim the deduction but she has to declare the income as 'interest' (she doesnt need ABN for this does she as it would be classed as normal bank type interest).
Thanks in advance…
I thought they were quite reasonable and seem to know what/where to invest…..
A couple of years ago, when I was interested they were mainly focusing on large/new 4 bedrrom houses on the outskirts of Brisbane/SE Qld…. looking for CG.! (am sure they had success coz Brissie enjoyed large CG's in 07/08)…Out of interest, where are they looking at now? I would be interested to know which areas….
They obviously have networks with builders/lawyers/RE etc and this is how they are making their money coz you are paying them for everything but for the time-poor people I think they are good!!Cheers
RitchieInteresting in North Brissy……
Does this also apply further inland such as Narangba, Burpengary, Dec. Bay, Rothwell, etc…..
I am looking keenly into these areas at the mo (probs more so Burpengary/Narangba) coz cheaper and in my price range!
Regards
RitchieHi guys
Was there any further response to this topic??
I also think it would be useful info. however I beleive generally to fing hotspot suburbs you may have to pay for it!! (through reports such as residex and hotspotting)I purchased the Residex report Top 100 Brisbane ($215)… this seems a lot more expensive, however there is probally more info (100 compared to top10)…
Have not bought any Hotspotting ones yet however as previous poster said I wonder if these types of reports have been consistant over the years?? And I wonder if they tip the same suburbs??
Good Luck
So you mean this was a bad buy/area??
I personally like the Redcliffe area and surrounds such as Rothwell and Narangba/Burp… Also D-Bay however the high-rise unit for this price is OTT – is that what you are getting at??
So, there would be no equity in this 360k purchase now….For all you non-miners out there…. how about the South side of Brisbane…. I waqs thinking on the coast around Redland Bay, Thornlands and Victoria Point!
Does anyone else agree/disagree with the potential capital growth in these areas?
Cheers[biggrin]
Ritchie 77Now the WA rental boom is over what to people think of South East Qld…..
I have done a bit of research and like the look of a number of suburbs such as: (with potential issues/downside in brackets)
Victoria Point – too far away?
Beenleigh – 1/2 way between Brissy and GC – potential issues with CG and Rental incomes?
Redland Bay – too far away?
Logan – Prices high now
Bray Park – North side?? (South showing more chance of capital growth)
Parkinson – to small?Anyway, any feedback of the experts would be greatly appreciated off a potential investor looking to dip into the IP market for the first time!!
Cheers
Ritchie[biggrin]Thanks Marc
Your info. is most helpful….
[aacool]Hi Marc
In relation to the ‘special building write-off’ I beleive this is only applicable to houses after 1987?
So, does this mean if a house was built in 1997, then now in 2007 there would still be 3[hmmm]0 years of depreciation left? And if so what happens at the end of this time (is it nothing…)In relation to the fixtures and fittings these are normally dep. for 10 or 20 years is that correct?
You also mentioned value adding, would this not be a capital addition and therefore you would not be aloud to deduct it from your tax payable??
A bit of clearance on this matter would be much appreciated.
Regards[hmmm]
Ritchie77
