EngeloRumora wrote:

Where would one invest right now in Australia to get the best BANG for the BUCK?

Depends what you’re looking for. If it was generic growth I think Sydney or Brisbane is better value than Melbourne, Perth or Adelaide right now. Of course, things will change over time.

– Steve

Steve McKnight wrote:

Bit hard to actually post a new forum topic took too long to find. A link at the top of the page would be easier.

Okay. Noted. – Steve 

Hi,

To answer your questions:

1. How does that work, do I get to claim that back every year?

As has been mentioned, it is the interest on the loan, rather than the loan itself, that is tax deductible. Principal repayments are not tax deductions.

2. How much would I get to claim back on $450,000 (my current income is very low only 30k)

None of the $450k is tax deductible as mentioned above.

On a sidebar issue, be careful not to have tax issues (ie. the tail) wag the property dog.

Your investment should meet your strategic needs in respect to delivering your desired profit outcome first and foremost (within your parameters for time, money, skill and risk tolerance). Tax is important, but it is not the prime investment consideration.

I’m not sure if LMI is tax deductible, or whether it has to be added to the cost base or amortised as a borrowing cost over five years. I suspect it can be amortised, but you should get a tax opinion on it.

Regards,

– Steve

• This reply was modified 10 years, 8 months ago by  Steve McKnight.

Yeah… I agree about the visual difficulties.

Seems unnecessary busy despite there being so much white space. That’s an easy fix though.

The bigger issue is the platform change, and that seems to be holding up well.

– Steve

Hi,

Much of what you don’t see is where the changes have been happening as me moved from Drupal and WordPress.

The visual gives us something to work from a lot easier than before, but it is pretty raw.

Ideas for improvement are welcome.

– Steve

• This reply was modified 10 years, 8 months ago by  Steve McKnight.

Thanks for the referral to the other post Freckle.

For my part about Mildura, pay very, very, very close attention to:

a) Job creation

b) Crop yield

c) Infrastructure projects

For my part, I would rather stick to Ballarat, Bendigo, Geelong, Albury etc. You have so much more potential investing in a hub closer to a major city.

Mildura is on the highway between Adelaide and Sydney, but there isn't a lot else around.

All the best,

– Steve

Hey team,

Yes, I think his material is worth reading as Kiyoskai has single-handedly created a generation of wealthier people.

Rich Dad Poor Dad certainly helped me, although I was disappointed to find out his  'Rich Dad' was not a person but rather a collation of his mentors. I feel this  impacted his integrity.

I would note he tends to repeat the same concepts across his books, so you may not need to own the entire library.

You can probably get his books at the local library.

– Steve

Hi,

Most people selling real estate lump in +GST (if applicable) because they don't know whether GST applies or not, so they are covering their backsides just in case it does.

My strong recommendation is that if you are buying / selling commercial property then always get an opinion about the applicability and implication of GST before going unconditional (buying), or getting the contract written (selling).

One trap to really watch put for when selling is having an agent use 'standard wording' that glosses over GST when you need specific wording, such as when you need to apply the margin scheme. This cost be $50,000 once. Ouch!

All the best,

– Steve

G'day!

Thanks for your post and welcome to the community.

You make an interesting post. Any chance you could take a photo and upload it? It is hard to get a sense of what it looks like.

In the meantime, I guess the issue is traffic flow. Do employees and visitors make it noisy and difficult to get in and out? If it is at the end of the street then there might be a lot of traffic coming and going, which could be a bummer.

When buying property, one of the important issues to think through is who is going to buy it off you. For this reason I suggest you think about the impact of the nursing home from their point of view.

In general, I think it is a slight negative.

Cheers,

– Steve