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Hi All,
You can still get CP+ in parts of Tassie. I had 11 a few years back on our west coast (Queenstown and Zeehan) but only 1 now. There's mining and a little tourism there and i did quite well when the mining boom first took off. If you make offers and look hard enough you'll find around 10% return that you'll need to get CP+ there. Entry under 100K. The problem is the towns are small, remote and not likely to grow any time soon. So while you might make $10 or $20 a week you are unlikely to get growth. Best opportunity i mssed was buying a Motel and strata titling; do that in the right place and you could make some good $$ and cash flow. TD
Hi Sarah,
My understanding is that receiving rent would not be legal even if you were living there. Technically this makes a proportion of your house an investment and thus a proportion is subject to CGT, etc. Obviously plenty of people must have done this and received "Cash in hand" no receipts…. But i think you could still get done if caught.
As for getting the FHOG and not living there…. If you have bills going to the address whos to say you aren't living there…. until the new ATO super computer catches up with you.Probably better to do things (mostly) by the book. <moderator: delete language> you can't get FHOG for an investment place; typical Australian punishment for trying to get ahead and be smart about things.
Good luck,
Tassie
