Total Members: 159,188

Chattaway

  • Chattaway replied to the topic CGT in the forum Help Needed! 8 years, 6 months ago

    Thanks for confirming this Richard. Someone was trying to tell me otherwise but I was pretty sure that this was the case. Otherwise the ATO would be wide open.

  • If you were to move out and then use it for income producing purposes (renting it out) then for sure it would be worth it. You would get capital works deductions for your renovations and can depreciate the fixtures and fittings. The combination of the rent you receive and the deductions and depreciation that you may get may make a big difference…[Read more]

  • Chattaway started the topic CGT in the forum Help Needed! 8 years, 6 months ago

    Hello,

    Am I right in thinking that in an off market private transaction (lets say a daughter buying a property off of her parents) if the property was sold to her for 200k but it was actually worth 400k – Capital gains tax would be calculated as if the parents had received market value. Is this correct?

  • Chattaway started the topic Annual growth rate in the forum Help Needed! 8 years, 7 months ago

    I’ve recently wrote out a plan from July this year till 2029 (when i’m 45!) where I’ve mapped out as best I can an accumulation of properties and based growth pa on each investment property at 5%. I’m interested in hearing opinions on what they believe is to be the most realistic growth per annum figure that I could use. Is 5% too high an…[Read more]

  • Chattaway started the topic Buying from parents in the forum Legal & Accounting 8 years, 8 months ago

    Hello,

    Myself and my partner are in a fortunate position whereby her parents are happy to sell to us one of their investment properties for 400k. The property is likely to be worth somewhere in the region of 420k and 450k – a valuation will be sought soon.

    I have been basing all calculations like the example below, the value is obviously an…[Read more]

  • Chattaway started the topic How would you proceed? in the forum Help Needed! 8 years, 9 months ago

    Hello,

    Myself and partner are currently saving for an investment property. We have 20k saved at the moment (not a great deal) but are in a position where we should comfortably have 80k before xmas. This can be repeated for the next four years with our current circumstances. Serviceability should be pretty good – we both earn around 80k each with…[Read more]

  • Chattaway replied to the topic The importance of having a strategy in the forum Help Needed! 8 years, 10 months ago

    Thank you to all that have contributed. Some good links and information. Appreciated.

  • Chattaway started the topic The importance of having a strategy in the forum Help Needed! 8 years, 10 months ago

    I’m just curious as to how many investors here, started investing with an end goal and then worked backwards to guide what purchases make. I’m struggling for formulate a clear framework to use.

    Thanks

  • Chattaway started the topic Reality Check in the forum Help Needed! 8 years, 11 months ago

    Reality check?

    The approach that I want to implement in regards to property investment is to source positive cashflow properties which I believe may also rise in value within the first three years of ownership but should they not, the cashflow is to be used to support shortfalls for more growth based investments – blue chip properties. I u…[Read more]

  • Chattaway replied to the topic Offset account and credit card in the forum Help Needed! 8 years, 11 months ago

    Thought as much. Corey – good point!

  • Chattaway replied to the topic Offset account and credit card in the forum Help Needed! 8 years, 11 months ago

    Similarily, are there any loans that you could believe could be accessed with an interest free period attached. You borrow and if you pay back within a certain time – no issue?

  • Chattaway started the topic Offset account and credit card in the forum Help Needed! 8 years, 11 months ago

    Hello,

    I have read and understand the benefits of paying for food and living expenses on credit card and then paying balance off before interest free period kicks in. Is it possible say if you had a credit card with a max of 10k on it, to withdraw 9k of that or transfer 9k and put it in your offset account and then pay it off again before the…[Read more]

  • Chattaway replied to the topic Rental Management Fees in the forum Help Needed! 8 years, 11 months ago

    Thank you Jason.

  • Chattaway replied to the topic Broken hill – anyone own property there? in the forum Help Needed! 8 years, 11 months ago

    Just digging this back up as would be keen to see what people’s mindsets are in regards to this area. Looks like great yields but big drawbacks as well.

  • Chattaway started the topic Rental Management Fees in the forum Help Needed! 8 years, 11 months ago

    Hello,

    I am hoping that somebody may be able to provide me with a rough estimate as to what I could expect to pay in rental management fees in Tasmania. If anyone has any information, I would be grateful.

    Thanks

  • Chattaway replied to the topic If IP Loan interest is tax deductible… in the forum Help Needed! 9 years ago

    You’ve definately cleared things up! greatly appreciated. I’ll get there I will!

  • Chattaway replied to the topic If IP Loan interest is tax deductible… in the forum Help Needed! 9 years ago

    Thanks alot Benny. I think i’ve finally cracked it. Am I right in thinking that if it was positively geared – rental income greater than all expenses that you can still get depreciation? or Capital Works Deductions?

  • Chattaway replied to the topic If IP Loan interest is tax deductible… in the forum Help Needed! 9 years ago

    Sorry to sound confrontational because i’m really not but what do you mean ‘what about the rental income you are earning?

    I didn’t realise that the rental income had an impact on the tax deductions. Are you saying that if the rental income on a property exceeded all its outgoings that you could not then claim for interest on the loan?

    I…[Read more]

  • Chattaway replied to the topic If IP Loan interest is tax deductible… in the forum Help Needed! 9 years ago

    Put another way I have been figuring from what i’ve read (obviously wrong!) that you’d work it out like this

    Interest paid $16000 but tax deductible and therefore 31.5% of $16000 is $5040 – I therefore recieve back $5040
    Property management $1200 but tax deductible and therefore 31.5% of $1200 is $378

    Where is my logic failing me :(

  • Chattaway replied to the topic If IP Loan interest is tax deductible… in the forum Help Needed! 9 years ago

    Hi Terry,

    But do you not receive a tax deduction equal to your marginal rate for this cost?

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Chattaway

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