I’m new to all this but this is what I think. It’s a lot easier to get positively geared property in Melbourne/Brisbane than it is in Sydney. You can drive 1 hours west/south/north of Sydney and the property prices are still over $500,000 (which is just ridiculous). You drive 1 hour away from Melbourne and you hit the country areas where in…[Read more]

Thanks Simon. You are correct. Just spoke to a tax accountant. The book I read was misinformed (Your Investment Property (Anita Bell), page 2 – point 2)

Thanks all. I have spoken to the OSR and my solicitor now. Just to let you all know for future that you just have to move in within 12 months of settlement. Which I can do as my newly renewed lease will be finished by then.

For those who want to move in and then rent it out is another story. A minimum of 3 months will probably get you out of…[Read more]