Forum Replies Created
Hi BorisS,
This is exactly right! It becomes VERY time consuming when you have more than 5 properties…
One of my best advice is get a good property manager and get them to sort out your bills for you (like water rates, council rates, etc…)
You will also need a good filing system.
This is also one of the major reasons why I started the APIM (Australian Property Information Manager.) software
Note: it manages information (it is not an analysis tool), and is designed to make your life a lot easier.
It will soon be finished probably by the wend of the week. I will make an announcement once it is ready as some will get a free copy.Cheers,
APIM
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Australian Property SoftwareComing very very soon…
*************Hi BorisS,
I am not sure whether I understand your example, but the simple answer to your question is:
You can claim the interest on the portion that is used to invest with. (It does not matter where you get the money from)So let’s say that somehow you have $100,000. If you use $80,000 to invest with then you can claim the interest on that amount (i.e. $80,000).
If you use $20,000 to go on holidays then you can NOT claim the interest on that.You will also hear people say the the tax man follows the money. (i.e. they look at what you spend the money on. If it is for investing then you can claim the interest as a tax deduction, otherwise you can’t. And it doesn’t matter what you use for equity etc… (i.e. it doesn’t matter where you get the money from. They only look at what it was spent on))
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Australian Property SoftwareAPIM —> http://www.apim.com.au
APDM —> http://www.apim.com.au
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OK after some internet searching I found this site
http://www.stampoutstampduty.com.au/rates.htm
It calculates the Stamp Duty for each state. (Each state is different.) and Victoria seems to pay the most (2nd is NT). The state that pays the least is (not suprisingly) Queensland.
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Australian Property SoftwareAPIM —> http://www.apim.com.au/beta.html
APDM —> http://www.apim.com.au/apdm.aspx
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Looking for stamp duty info I came upon this link
http://www.taxinstitute.com.au/CDA/Stories/Individual/1,1030,37255,00.html
which talks about Stamp duty “corporate reorganisation exemption”.
Does anyone know more about this?*************
Australian Property SoftwareAPIM —> http://www.apim.com.au/beta.html
APDM —> http://www.apim.com.au/apdm.aspx
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OK thanks Brett,
I have sent you a patch (to your grafx email address) which will fix the problem.
For comments please use the forum http://www.apim.com.au/files/forum
or email us directly at [email protected].
Thanks
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APIM coming very soon …APDM coming soon …
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HI Brett,
No there isn’t a problem. I am not sure why you are having this difficulty.
What browser are you using?Ben
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APIM coming very soon …APDM coming soon …
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Hurricane,
I think it will not be as bad as you think.
How long did you live in the first house?
(I am NOT an accountant. Please see your accountant to double check this..)
Say you lived in it for 2 years, (which is 24 months) before renting it out and you have rented it for 10 months.
The percentage of the time it was a IP is about 10/(24+10) = 30%So you will only pay 30% of the Capital gain you made on the property. You also get the 50% deduction.
For example: let’s say you made a $100,000 gain.
so only $30,000 will be taxable.
Now you can also get the 50% reduction, which means you will only pay tax on $15,000.I think that you also have a 6 month exemption too. Actually I think you could get away with paying hardly nothing. See your accountant about this.
Can someone confirm this?
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APIM coming very soon …
APDM coming soon …*************
OK here is the link http://www.apim.com.au/apdm.aspx
You will find the download links at the bottom of the page.
I have put an example in already so that you will know how it works.
Report any bugs to [email protected]
Enjoy!*************
APIM coming very soon …
APDM coming soon …*************
Hi Graham,
I have nearly finished a spreedshet that does (i think) everything you are looking for.
It is called APDM (Australian Property Decision Maker.) If you would like to test it with me I would be more than happy to let you use it, however it must be used on a “use at your own risk” basis.
I developed it using openoffice calc. (Since it is free.) I will try and make a port to excel.OK let me work on it and I should have it finished by late tonight.
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APIM coming very soon …
APDM coming soon …*************
Hi everyone,
I am just wondering… How do you keep track of all the paper work when you have more than 10 properties (Let alone 50!!).
All the bills etc… Seems like a good program is needed
Can anyone tell us how they do it (their thoughts on this and a few explanations.)
Thanks
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APIM coming soon …*************
Hi ireland,
What about a 6.45% fixed interest for 5 years starting from now.
Interest rates will probably remain the same or go down during the year. When they start going up again, lock yourself into a fixed rate.
Just something to think about… I know it all really depends what your strategy is etc… but the thought I can’t get away from is that unlike shares people need a roof over their heads…
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APIM coming soon …*************
Sure,
Tell us more about the property and you might find one here!
APIM
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APIM coming soon …*************
OK,
A great thanks to all of you who submitted an application to join the beta program. We will be reviewing your applications and will be in contact with you shortly. For those how missed out, there will still be a free version (with all the functioanlity) but limited to two properties.
Stay tuned….APIM
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APIM coming soon …*************
Oh, I forgot….
Our privacy policy is simple: We will NEVER give (sell or rent) your information to anybody (or any organisation). (Full stop!)
You can have total peace of mind.
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APIM coming soon …*************
Hi Leigh,
Even though this looks really good at first it is infact very risky.
The risky part comes from the fact that you have no control over the exchange rate. For example if you had done that about 7 years ago when 1 aussie dollar was worth 0.7 US you would be crying now. (even though things look like they are getting better.)
For example if you took a loan of 200,000 AU (Which is the equivalent of 140,000 US at 1 AU =0.7 US)
a year later when 1 AU = 0.5 US your 200,000AU would only be worth 100,000 US (So you would have lost 40,000 US or 80,000 AU in one year.)I know that you could argue that you wouldn’t sell the property for many years etc… I am not saying it is good or bad just letting you know what the risk is. As you know it works the other way around too. You could make heaps. but it is a bit too speculative for me.
I never tried to get a US loan so I don’t even know if it is possible.
Hope this helps.
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APIM coming soon …*************
Hi Tamara,
I came across this web site a few days ago, it might be of interest to you:
http://www.australiapropertycentre.com/I am not sure about the content since I didn’t spend too much time on it.
Ben
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APIM coming soon …*************
