what people are telling is correct. You are better off getting a depreciation schedule done. The last schedule i had done was for the next 20 odd years, so should the tax department audit me i can show them where i got the numbers from. there are two ways they can do it, i cant remember what both of them are called.
there is a book at dymics…[Read more]

Yeah i know what kay is talking about. since being on this forum i have met some great people.. Mel, Billfromoz, LuckyPhil, just to name a few. Through meeting with them personally and building a rapport i now know and trust these guys (and girl), and i would like to think they trust me. I know that these few, so very few are willing to do what…[Read more]

Tell him, that you’re nothing but a poor uni student and dont have 5000 dollars to give him. Then turn up on his door step 6 months later in a porsche looking for more property.

I got told of at least three deals in SA last night. They are out there, but like mel i’m not really looking at the moment. Get creative ask friends ring heaps of RE agents, go to open houses etc. if you put the leg work in now it will pay off!
good luck
shaun

I’ve just spoken to a couple of RE agents in darwin (i should have done that first… duhh)
anyway brent1 is correct they reckon its now worth an extra 5 – 10 grand which is around 3.4%
so thanks everyone for your help!
cheers
shaun

Thanks for that, its just that i have to refinance, and was hoping to have a ball park figure how much prices had increased. i can understand -11.9% for darwin but that would only be for certain areas, as larrakeyah is one of the better suburbs i would have thought prices had increased, not declined. oh well i will just have to keep looking. i…[Read more]

i agree, though i have put in low ball offers, most of the RE agents havent been impressed. but in saying that, one or two of the agents have been good enough to put me onto deals where my offering amount has been the asking price. what i did do however, was put in my offer a paragraph saying that i have pre approved finance which is attached to…[Read more]

ive got one for you, the latest API magazine is not that good, the REI havent given out CG for the last 3 – 6 months, instead they gave out june 2003 quarters numbers again. i rang API magazine up to ask why and was told that the REI doesnt have the numbers…. the REI not have the numbers? arent they the ones going on about how great RE is?….…[Read more]

i did their seminar, and i think they are ok, though i did buy the software from them, and as melbear can confirm, the software isnt correct.
so when they offer deals, its using outdated numbers, ie stamp duty is incorrect by about a year and depreciation on the building isnt a constant 2.5% per year.
so i dont buy properties through them. ive…[Read more]

C2,
i was going off an uproar in Queanbeyan (satelite town of Canberra) where the locals were complainng of a lack of beds and the closure of one of the old peoples homes’. the reply was that the beds had been sold, ie how many old people they could have there subsidised by the Govt.
One of the arguments the locals used was that alot of the…[Read more]

sorry, my mistake. i was thinking of airfares to see your IP, where only the GST is refundable.
my mistake!
shaun

Lead, Follow or get out of the F@$#ng way

heard this one in the middle east last year from some australian soldiers i was working with.

ive just asked my accountant about this. and how it works is,
if you dont have an IP then the cost of these courses/books are part of your cost base ie not tax deductable, however if you have an IP you can claim a deduction for the courses etc.
You must remember though that they are not 100% tax deductable but a percentage of it is ie the GST on…[Read more]

i’m currently looking into it. from what i understand you buy into a body corp type setup and they get 85% of their pension to house and feed them etc. i have been told they are pos geared property, but not having done much in the way of due dilligence, i simply do not know.
one question i do have is: the government subsidises alot of it, but you…[Read more]

i would suggest you read this web page from the asic homepage, in regards to offshore seminars.
http://www.asic.gov.au/fido/fido.nsf/byheadline/Offshore+investment+seminars?openDocument
it basically says to avoid them as you will not be protected (which is their aim to protect themselves)
sorry about that, but i guess at the end of the day it is…[Read more]

if you sell the block of land/and or house you will be done for capital gains tax on them.
as the new block of land is a seperate entity than your PPOR you will be taxed as if you have just bought an investment property and sold it.
just remember to hold for 12months and 1 day and you should only be done for 50% of the capital gains on your new IP…[Read more]

i used a conveyancer in darwin for my last IP, and to tell you the truth they were’nt any cheaper than a solicitor. she didnt even do that good a job, forgot to tell me a few things that i thought were important.
any one else’s thoughts?

any one know timorese?
Boa tarde senhor ho senhora, diak ka lae?
hou nia naran salvador!
how about indonesian
selemat pagi pak dan bu
apa kabar?
nama say waworuntu!

i had a look at a block of flats in my local area, went and had a look and they werent bad, needed about 50k for a reno on the place. the RE agent asked what i thought they were worth, i then asked how much is he asking, 6 x 1 bedrooms and 1 x 2 beddy, vendor asking 800k. i just about laughed out aloud which didnt impress him. although the…[Read more]

liviwell,
what you do is have all your bills etc sorted out, this includes your depreciation schedule, rent coming in etc. get a good accountant and they fill out a form called a 221D.
this is basically asking permission to the ATO, that instead of getting your losses at tax time, they be reduced from your income tax fortnightly. you will have to…[Read more]