Sounds perfect Crest. Now to find a large populus of the uneducated with few assets & fewer aspirations in a country with great skiing. (my only concession).

theycallmeBruce wrote:
Anything else like this you can buy and benefit from?

I wouldn't recommend it for rare wines (hmm, I don't know why).

Save yourself half the hassle and contact a broker – Terry/Richard/Jamie should all be capable of doing the job.

My brother did the same thing – and he's an accountant.

Terryw wrote:
I've come to the conclusion that very few professionals know what they are talking about. Including lawyers, doctors, hair dressers and travel agents.

Does that include the ones in Fortitude Valley, St Kilda or Kings Cross?

Terryw wrote:
Taking tax advise from a guy a HR is like taking nutrition advice from a staff member of McDonalds.

I wouldn't quite put it like that, at least H&R do tax work but Mickey D's don't do dietary/nutrition.

Just get the timing right so that settlement and your BAS return are only weeks apart.

I've sent you a PM.

Since the first posts the AUD has traded down to parity and now back around $1.04

How is everyone traveling as the $ is still above parity.

Is buying just as good or are they bouncing back a little?
Are you waiting for the fiscal cliff?

There are about 4 conditions which need to be met – check out the ATO website or ask your accountant.

Take the $20K and put it all on black.

Thanks Terry

Welcome Zac –  there's plenty to read  on this site.

You will have different LVRs on the shares compared to the Commercial IP. Different rates may also apply – so you may need to consider how you structure your loans.

SamSavva wrote:
Can everyone look into their crystal balls??

sam

Oooh!  I see an inverted me in the reflection.

2) You can't transfer the income between different owners unfortunately.

3) You haven't taken into account how much rent you will need to pay in the new house, so although the income will be about the same as the rent, you will need to stick your hand in your pocket to cover it (a bit of swings & roundabouts)

How to make $1M in property/shares/whateverelse takes your fancy – Start with $2m and believe that it is a 'set and forget' investment which doesn't require any further tending for 5-10 years (or longer).

You've lost me on that comment Shahin. NG is the reason many invest (ie to lose money, hopefully short term with capital gains benefit at the end of the day). Development is based on the premise that you buy a raw site (greenfield/brownfield), add value (DA/Construct/Subdivide/Extend/Refurb etc) and sell at a profit or change from -ve geared to…[Read more]

No photos Derek??

The only upside is that if you do make a capital loss by selling a non-performing asset, the loss can be carried forward indefinitely and offset against another capital gain when you come to sell a highly performing property or your share portfolio.