Ive only been on 2 holidays, for about 3 – 5 days each, but were the properties are situated, they are only driving distance, from my brisbane residence, so really its just been 2 plane tickets with returns.

Cheers,
sis

People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million

Hi Guys,

Many of those things are so easily able to be claimed, that is why you must have a good accountant. First up, alcohol is one thing, that most people dont realise you can claim, which in fact you can be able to to claim, even if you had one IP approximately 5 bottles of alchol. Or about 5 – 8 bottles a year, for one IP.

While travelling to view your investment properites, in most states you can claim about $200 dollars for each day of stay. (not including expense added in yet.)

There are so many things you can claim, if you have a really good accountant, he will be able to justify and prove everything you submit, as long as you have the supporting evidence and proof, there will be no problem in claiming these expenses/deductiblilites or goods.

Cheers,
sis

People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million

a sex toy can be a gift, to either your relationship manager, accountant, solicitor, PM or even your tenant.

Cheers,
sis

People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million

there are so many things you can claim, and this is a really small list to what you are able to claim,

further more you can claim, televisions, cable tv and even many other things, that havent been listed but will even surprise you more.

Cheers,
sis

People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million

The normal/common deductions include the following:

* advertising for tenants
* bank fees
* body corporation fees
* borrowing cost
* cleaning
* council rates
* depreciation and special building write offs
* electricity connections
* gardening and lawn mowing
* insurance
* interest paid
* land tax
* legal expenses
* pest control
* postage
* stationery
* telephone
* property management expense
* repairs
* secretarial & bookkeeping fees
* secuirty
* travel
* water rates
* internet

This is just a small list, and the list is going to get bigger as your about to hear about some unusal dedcutions.

this is sourced from Dales Gatherum-Goss book “Tax Battles”

Cheers,
sis

People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million

Hi HousesOnly,

first up, i think you should speak to your accountant, as there are 100’s of deductions you can claim, and im going to list as many of them as i can in my next post.

Many of you are going to whinge and claim, that its a whole lot of bull of what im going to list, then talk to your accountant, your accontant will be able to a justify everything i said and going to mention.

The deductions, that can be claimed and presented, can be claimed against an individual, even if they are working FT, PT or casual, even if their properties are an investment vechile for them, or even if property investing is there business.

Cheers,
sis

People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million

Though, i forgot to mention, if i was to sell, i would instead sell a property that had no depreciation claimable, but would also get the property re-evaluated, before it gets rented out again, to again further the amount of capital gains tax. (though this thing i mentioned, is another whole story on minimisng capital gains tax)

Thanks for your reply Anubis,

If i do have to pay HECS today or later down the track, i will pay it back, but i will try to defer it as long as i can, the longer i can defer it, the easier but lesser affect it will have, than if i were to pay for it now. (at what todays dollars and earnings are)

even if this also means if it influctuates with the CPI each year, over time, the debt will still be relatively small, rather than having to pay for it as quick as possible from day one. which would or hinder, my or the persons pay packet and earnings.

Cheers,
sis

People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million

Hi Richmond,

of course, eventually one day i have to pay it back, but in the mean time, the debt today may look big, but over time, that same debt will look smaller, to a point eventually were the HECS debt will look like a small drop, or a small fee, due to what the value of a dollar will be worth in the future.

As for paying it, if i can and able to defer it for at least 5-7 years, the current future dollars and earnings will make this HECs debt look small.

Cheers,
sis

People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million

Hi HousesOnly,

if you read the post again, you will understand, just have another read and will be able to understand, what im trying to explain. It is hard to understand, but ill try to break it down so everyone who cant understand will sorta get a hold of it.

Where you make a profit you pay tax, but if your making a lost, the effect is neutraled out, so there is (+1 + -1 = 0). This is what has simply happend with the properties. Where you make a loss you get tax benefits, where you make a profit there is tax deductions.

This then leaves my income with no losses, how do i bring it down to zero, through the depreciation, that i can claim. Other expenses, that can be used to be claimed against my income, are the insurance fees, stamp duty fees, commission fees, travel, accounting fees, all those fees add up. Cause a bigger claim against my taxable threshold.

Its very simple, but this technique is just called “Offset Gearing” If you guys read over some old post, that i posted long time ago on here, i have explained the fundalments of Offset Gearing.

The cash in hand/bank is term used, when you have made profit, but on actual paper it shows lost, a lost of were, you made no profit.

Just try to understand “Offset Gearing” and you will seen then, how it works and how tax becomes offsetted.

Cheers,
sis

People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million

Hi HousesOnly,

There are 4 types of gearing:

++ve geared (Passive gearing)
+ve geared (Positive gearing)
=ve geared (Neutral gearing)
-ve geared (Negative gearing)

With the properties i have they fall into all these categories. Which causes an offset affect.

I do have 2 accountants that do the accounting work for me one works for the ATO and the other one specifies in specifically IP accounting and the other thing is i study accounting and finance.

The guys who do the accounting are very up to scratch and are always, guiding me and telling me, what i must do to ensure control over such funds, so that there is no tax or it is at the very minimal.

If you guys can got a copy of HECS Information 2004 Booklet (page. 21)

This is what it says.

You must begine repaying your debt when your HECS repayments income reaches the minimum threshold for compulsory repayment, which in the 2003-04 incoe year is $25 348

Your HECS repayment income is:

* your taxable income for an income year1; plus

* any amounts your taxable income has been reduced by a net rental loss; plus

* your total reportable fringe benefits amounts shown on your Pay As You Go (PAYG) Payment Summary.

It says it there and this discussion has been brought up in the past, about HECs and property investing.

Cheers,
sis

People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million