Thanks very much for the advice all. From my point of veiw I would rather own my own place at least than pay rent. As long as prices dont recede it’ll be valuable choice, and it renovations make it +CF when we leave, all the better!

Regards,
Si

Aceyducey,
Really!?! thankyou for pointing that out. i was completely unaware!

Regards,
Si

I’ve also seen the book Chan mentioned. I haven’t read it yet but after a flick through put it on the ‘must buy’ list.

Regards,
Si

Hi spider,
Im reading it currently and Id give it around a 6/10. not wonderful, but does contain some helpful hints and I think one helpful hint in worth the $25 dollars alone.

Regards,
Si

I like pisces method of the letters, plus insurance commisioners etc with the threat of today/tonight. Great stuff pisces!

Regards,
Si

Hey John,
What part of NZ are you living in?

Regards,
Si

Hi Ginamaree,
I was thinking about buying that boardgame, despite it being ten times more than a regular board game! Do you think it is worth $300?

Regards,
Si

Thanks Kay. My wife and I are thinking of buying one as a PPOR, renovating, and achieving positive CF on a quality property when we leave. It seems renovation may be one of the only ways to build +CF these days.

Regards,
Si

Thanks John. That sounds like excellent advice.

Regards,
Si

Nice one chan. I think there is a lot to be said for making sure we get everything we are entitled to tax wise etc, and a bit of extra diligence in this area can go a long way as Chan has shown us.

Regards,
Si

Steve McKnight and business partner run a melbourne accountancy firm. maybe try them?

Regards,
Si

Hi Yack,
I wouldn’t worry so much about trends. If a deal is good it’s good! If not, then it’s not, regardless of the times. profound insights I know

Regards,
Si

Further to that last post flash, here are some links:
http://www.charterkc.com.au/services/quantitySurveying/taxDepreciation.php
http://www.deppro.com/

Regards,
Si

There are companies which you can find via the web which specialise solely in depreciation. they would be able to help you with this. They also offer full depreciation schedules I think for the next 10 years etc.

Regards,
Si

Thanks Jason and Kay. I really appreciate that advice

Regards,
Si

I’ll add my two cents – I’m pretty sure thats the way it works. Make sure you claim for any expenses incurred aswell, including a portion of your home costs if you had a home study/office eg a portion of your rent/mortgage, electricity, stationary, phone, memberships, etc.

Regards,
Si

hi George,
Given the seriousness of this move I would strongly suggest getting your advice from a lawyer rather than this forum (not that there isn’t excellent information here).

Regards,
Si

I believe steve and his business partner still run an accounting firm in melbourne. Maybe you could try them?

Regards,
Si

In NZ I believe an ‘LAQC’ company is the best form of investment structure. It allows five share holders and any paper losses can be offset against the incomes of all of these people (eg children, non-earning spouses etc all become shareholders). Likewise any profits also, so the share given to your six year old son etc is likely to be entirely…[Read more]

I agree with Stu. Spend the extra and do it right the first time. The tax benefits will pay for the extra cost quickly.

Regards,
Si