Service stations are a dying business since woolies and coles started discounting. Only a handful are surviving. These are the ones that are offering greater discounts by joining forces with local businesses or who focus on other things like groceries or operating the local post office.

TMA
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I think I do…

Investing is a commitment of money, time or effort to achieve a desired result.

Examples….

* investing in your child’s education by buying a mathematics software
* investing the continued well-being of your local community by volunterring at the local soup kitchen
* investing in shares to obtain financial benefit

As you can…[Read more]

Yes they do. They also add all other expenses associated with selling you up if it is not covered by the sale. This should not be a problem though as no-one plans to fail.

TMA
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I just find it cheaper to operate and more flexible than a trust. I also utilise the trust structure in some cases.

TMA
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LMI = LENDERS Mortgage Insurance

It is a one off premium you are charged usually when borrowing more than 80% of the value of the property and is to cover the LENDER if you default. The LMI company will then pay the lender any shortfall and chase you for the funds.

Landlords insurance is another insurance you will also have to pay for and covers…[Read more]

It is not a betting establishment. No prices are being offered. All bets are to be put through licensed Australian bookmakers and betting agencies. It is just a pooling of funds and group betting for those who cannot do it themselves.

Re the Department of Gaming & Racing, am awaiting a formal response from the Assistant Director. They seem a…[Read more]

Thanks regrow. Looks like I am still screwed as it has been more than 12 months and construction has not started. I can always work it out later when I eventually build and back-date any available claims. May even end up working tax-free for a few years when considering the amount of interest I have paid.

TMA
http://www.email4money.info
Investor…[Read more]

Yep. That is why I buy property in a company name. If I want to live in it, I just ‘rent’ it from the company. I have never owned a PPOR.

The stupidest thing I ever done was buy land which, I was advised, is non-deductible until I put a structure on it. Never again!

TMA
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You cannot use a guarantor unless you are buying property. That does not seem to be the case here. If the in-laws are willing to go guarantor and qualify, would they consider just borrowing the money and using it to pay all the debts and then ‘YOUR FRIEND’ can make the repayments to their loan?

All the other information here has been excellent. I…[Read more]

I must apologise for my lack of attendance last night. I hope everything went extremely well and I am disappointed with myself for not being able to get there.

I hope there is going to be further meetings (preferably at a later time or on the weekend) so a large bunch of us can make it without difficulty.

Sorry!

TMA
http://www.email4money.info
Investo…[Read more]

Originally posted by Jerzy Balowski:
Where did you get the impression that my comments applied to your example

Improper use of words…

example = personal situation

Sorry for the confusion.

I am also practising becoming more ‘Stroppy’!

TMA
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There is no legal way of doing this. Paying off non-deductible debt regardless of the source of the funds results in the cost of those funds remaining non-deductible.

Look at alternative structuring to pay your loan down quicker. It is pretty amazing what can be done with some minor changes to how you pay your loan.

TMA
http://www.email4money.info
Inve…[Read more]

Kendo, you have to ask the valuer if they will assign to a specific lender. In most cases, they will say no because valuations for lending purposes have different guidelines and the valuer may be kicked off a panel if they do not do it the way the particular lender wants it done.

In my experience, I still see no benefit in ordering your own…[Read more]

I would say no on this one but I am not an accountant. I think it is all based on the purpose of the expense at the time of paying which would have been PPOR. I don’t think you can dig up old expenses to deduct them.

Maybe ask this question in the accounting section. There are some good accountants on this forum.

TMA
http://www.email4money.info
Invest…[Read more]

http://www.fhog.info

You will not lose the FHOG if you have never had a PPOR but there are exceptions if you have had investment properties for a long period.

TMA
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Thanks for the kind comments guys…

Jerzy< are you just bored?

Originally posted by Jerzy Balowski:
Excuse me TMA, but my initial comments were in reply to a situation experienced by NATS12 that I found familiar.

I know. It was pretty clear in your post.

No, you did not read my first post accurately, because you somehow assumed that I…[Read more]

Don’t get hung up on the independent valuation either. The lender will order a new valuation for ‘mortgage purposes’. These are often very different to what you get when you order your own.

TMA
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Not everyone can do it. You need a good mix of positive cashflow income and decent capital gains. By the way, you can borrow far more than 80% of a property value.

TMA
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I agree with Steve. It should be far better over the longer term.

TMA
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I like looking deeper into topics.

Just on the capital gains issue, that is also fraud against the ATO. Any half decent auditor would find the ‘rebate’ following a purchase on a ‘stacked’ contract and start asking questions.

Is it really worth the risk?

TMA
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