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Viewing 9 posts - 1 through 9 (of 9 total)
  • Profile photo of SayanSayan
    Participant
    @sayan
    Join Date: 2013
    Post Count: 13
    March 24, 2015 - 10:06 pm

    Cheers :)

    S

    Profile photo of SayanSayan
    Participant
    @sayan
    Join Date: 2013
    Post Count: 13
    March 24, 2015 - 9:58 pm

    Thank you, Dean.

    So from what you said (lease is due on the 30th of June), as a landlord, I cannot give the tenants a notice on the 15th of June and expect the tenants to vacate the property by the 15th of July?

    Thanks,
    S

    Profile photo of SayanSayan
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    @sayan
    Join Date: 2013
    Post Count: 13
    July 2, 2013 - 11:40 am

    Thanks very much, guys!

    Sayan

    Profile photo of SayanSayan
    Participant
    @sayan
    Join Date: 2013
    Post Count: 13
    July 1, 2013 - 1:12 pm

    Thanks, Tom.

    According to below, would it meant that if I happened to turn the IP into PPOR after the second year, then a deduction of the balance of the borrowing expenses (over $100) can be claimed in that year?

    " If your total borrowing expenses are more than $100, the deduction is spread over five years or the term of the loan, whichever is less. If the total deductible borrowing expenses are $100 or less, they are fully deductible in the income year they are incurred.

    If you repay the loan early and in less than five years, you can claim a deduction for the balance of the borrowing expenses in the year of repayment."

    Cheers,

    Sayan.

    Profile photo of SayanSayan
    Participant
    @sayan
    Join Date: 2013
    Post Count: 13
    July 1, 2013 - 12:05 pm

    Thanks, Jamie. That was quick! :-)

    It does make sense to use the number of years the property is rented out. Also, found this:

    Borrowing Expenses – deductible over the period of the loan where the loan is less than five years. Otherwise deductible over five years.

    Cheers,

    Sayan

    Profile photo of SayanSayan
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    @sayan
    Join Date: 2013
    Post Count: 13
    April 3, 2013 - 11:30 am

    OK. thanks, Jamie.

    Sayan.

    Profile photo of SayanSayan
    Participant
    @sayan
    Join Date: 2013
    Post Count: 13
    April 2, 2013 - 10:23 pm

    Hi,

    I am in a similar situation, i.e. first open for rental inspection this weekend with the property settling in two weeks.

    I am thinking of going in during the inspection to have a look at the state of the house so I can arrange cleaning etc if needed before the first tenants move in.

    Is it something that is OK to do or is there some legal aspect that I should be aware of?

    Thanks,

    Sayan.

    Profile photo of SayanSayan
    Participant
    @sayan
    Join Date: 2013
    Post Count: 13
    March 22, 2013 - 11:55 pm

    Many Thanks, Jamie.  Hopefully I can lock it in time.  

    Cheers, 

    Sayan

    Profile photo of SayanSayan
    Participant
    @sayan
    Join Date: 2013
    Post Count: 13
    March 22, 2013 - 12:51 pm

    True – 5.065% is still pretty good. will lock it then.

    Thanks, Michael.

    S.

Viewing 9 posts - 1 through 9 (of 9 total)