No, a gift of money (10K) is tax exempt.
This was what I was told athough it was about 5 years ago. I’m sure updated info will probably be forthcoming if I’m wrong []
I think I made a post about Rockhampton about 3 months ago, where the agent put the price up 10K on a whim, without consulting the vendor, because the market was so ‘hot’ and he didn’t have time to update his stock on the net as people where buying site unseen over the phone. Actually, it was about 1 week after Steve’s last seminar,…[Read more]
If you are 12 years old, its great that your taking an interest in your future [^]. However, one of your biggest hurdles in property investing will probably be credibility. Perhaps its a stereotype we’ve come to accept that most 12 year olds are out rollerblading, skateboarding or playing Playstation 11 etc.
How do you think you…[Read more]
Any accountants out there []?
Tonights Steve’s Launch of his new Bestseller book, so the forum might be a little quiet tonight. I’m sure someone with nouse for figures (unlike me) will be able to help out.
I unfortunately can’t be there, but have fun…or you could play a trick on Steve and pretend not to know him []…”Hey, I thought this was the book launch on ‘How Accountants Love their profession So much – they do property!'” [:0)]
I should have made a mention in my last post that I was letting people know where and when Steve’s book launch would be tonight.
We all get that ‘scrambled brain’ syndrome sometimes []
It could be in South Yarra now…but when I was living in East St Kilda, we always called it Pharan. To satisfy huntress_love, Time: 8pm Where: Boarders…[Read more]
I agree with Aussierogue.
Jenmen is suggesting an emotional link with the house of choice.
quote:Decide which is more important – the home you love or the price you will pay
Emotionally getting attatched to a house would have to be up there with the DONT’S of investment buying.
As Aussie stated, if your a HOME buyer, than you can make t…[Read more]
Sounds reasonable to me! I think you’d all groan if I told you our accountants fees…
I feel ill [] when I think of it…
Yet again, nowadays you pretty much get what you pay for. If my accountant does his job right, then he’ll be worth his weight in gold.
We use the equity in our home to fund the deposit on the ip, then get finance for the rest. We find this easier to do.
Although we have made mistakes of giving 20% deposit up front. The real estate agent was a ‘stick-in-the-mud’ and didn’t like wrappers and we were dumb []. That’s all by-the-by now.
Cheers
Sooshie []
Unfortunately, ABC Nightlife are not going to publish the transcript at this stage(or so they told me), they suggested buying the tape ($35) or buying the books by Lomas and by Steve.
They did have another transcript (edited of course) on property (some consalation ha []) at…[Read more]
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What’s the going rent in the local area where your IP is?
I don’t think it’s your problem that he’s not using all 4 bedrooms???
If he genuinely can’t afford it (does he have a mobile telephone, X-Box or Playstation, Computer, Video, DVD, CD, Huge TV , 2 cars, etc OKAY I’m a cynic []) offer a discount for limited time and tell him you…[Read more]