Forum Replies Created
- Terryw wrote:Have yous considered if you dont fix and prepay again next june you will have a higher tax bill next year. ie you will have rental income but not much in deductions.
Also most are suggesting rates may fall again in the near future.
of course! i'm also considering buying 1-2 more properties in the next year, too, which can be used to decrease the tax bill.
I'm trying to work out whether pre-paying by the same amount as offsetting will save me more money, which is of course hard to ask without considering things like income, liabilities, deductions, future strategy..i'm also partially trying to find out whether there are other pitfalls which I haven't considered
thank you for the input and replies so far.
jjweb and duckster, you are correct, that is the program.
aside from the large scale development issue- I guess I have an emotive connection for this with Public Housing. Not really the same thing, of course, but if there is a limit on how much a person can earn to live in this sort of dwelling, it's automatically cutting out a large demographic.
One of the caveats on the government grants is also that they decrease if the property remains vacant over a certain period of time.
I'm trying to crunch numbers to determine the viability of this over purchasing something more stock standard. Being a first timer, I'm consulting financial advisers and this is what one has suggested and recommended. Since I haven't come across this concept before, I'm still trying to get my head around all the risks and benefits, thus the question if anyone has dealt with it before.
