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  • Profile photo of shangrila00shangrila00
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    @shangrila00
    Join Date: 2009
    Post Count: 65
    February 17, 2010 - 8:54 am

    Thanks for all your responses!

    If the property was sold at a loss, though, and the only "gain", so to speak, was the $5 sale price, how can the vendor claim to have the money ready for CGT purposes?

    Or would the cheaper option be to just transfer the property into a relative's name, not sell it?

    Profile photo of shangrila00shangrila00
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    @shangrila00
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    February 16, 2010 - 11:51 am

    god_of_money – thanks for the reply, but what exactly do you mean by "answer the ATO"? As in why I sold it for the amount I did? Surely an IP owner has the right to even give away his/her property, if they choose to do so, and not have to explain themselves as to why they did it? Maybe I'm getting too far ahead and misinterpreting your comment…

    Profile photo of shangrila00shangrila00
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    @shangrila00
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    June 1, 2009 - 11:17 am

    Thanks, gibbo1! Most useful answer so far (still thanks to most who replied). Time to update my research.

    Thank you!

    Profile photo of shangrila00shangrila00
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    @shangrila00
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    June 1, 2009 - 8:20 am

    I'm well aware of the risks, but I choose to minimise them as much as possible! Hence being sensible by choosing not to risk my actual house on something everyone knows is riskier!

    Not confused at all – just more cautious (who doesn't want maximum output as a result of minimum input?). All right and kind comments, but yours!

    Good luck!

    Profile photo of shangrila00shangrila00
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    May 31, 2009 - 12:23 pm

    That's the interest rate I was quoted a couple of years ago by a broker. It was either incorrect or not fully explained to me (apparently it's that high, from what he told me, because the risk with these type of investment properties is also higher). I'm only sharing the information I have, but still not getting anywhere with regards to my questions being answered…

    Profile photo of shangrila00shangrila00
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    @shangrila00
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    May 31, 2009 - 9:27 am

    That's the yield I've seen mentioned in articles about this sort of investment. Whether that's real and actual in the current market conditions, I realise I need to do my research on that. My main concern, as mentioned, was that it won't make sense to have such a return p.a. against a potentially double interest rate!

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