Forum Replies Created
wouldn’t this practice also manipulate the market ie inflating prices… which could be good or bad depending on whether you’re a buyer or seller
Ive been thinking… if you sold a property and were subject to CGT wouldn’t it be smart (and if you had held it for the required 12 months to get the CGT discount) to sell say in July of any one year so when you’re doing your tax through an accountant/tax agent you then have the benefit of that money – even though a portion belongs to the ATO – for approx. 21-22 months???
If true then your PPOR mortgage could borrow it for a little while or if you are into a little bit of risk then you could invest over that time or a combo of both…
If you sold in june of any given year your taxable income could increase rather sharpley whilst missing some of the benefits that I already mentioned???
am I right or am I right or am I mad…
kay…
thanks for that… It has an interesting moral side to it (as do most things). I’m in this game not just for myself but for others, however not particularly at this end. I would like to Bless people. I think this thread raised a good point that perhaps it was greed in the first place that lead to the situation becoming ugly. It depends where your heart is at and what your intentions are I suppose.
Before i bought my first ip i talked to my accountant about trusts briefly…. she said that dont worry about it until you start getting +ve cf properties after a couple of years!
little did she know that was my whole aim from the start…ha ha ha (evil laugh)
haven’t told her that it’s happening now though
taz
I also think there are a lot of factors at play…
One that hasn’t come up yet is people’s desire to live in country areas. I think it is underestimated at times that there is demand because people like the country and want there kids to grow up that way…. and also IT is getting so good that… well frankly who needs to live in the city???
Dont get me wrong I live in the city… but I know where I would rather live…. more like the fringe where there is acerage but still a reasonable travelling distance to the city….
I have an employer that I could move to any centre ( say 10000k+) i like in australia and that’s not because I’m the bees knees at my job but the IT is good enough to make it happen and i could do the same job I’m doing in the city…
taz
WOW AFLOAT!!!
Good on you… something for me to aspire to…!
taz
hi guys…!
1st ip was in 1999 in brisbane – a run down workers cottage which i lived in while i was married with a view to buying next door and selling both to a developer… after marriage breakdown of course the property next door came up for sale in 2000 which i wasn’t in a position to buy and i ended up selling to someone with the same idea as me D’OH… but they obviously haven’t got the funds to do anything because the properties are still sitting there…value now $250’s
On brighter news I bought my 2nd ip in 2003 in a country town with 10000+ people for 83k which was currently rented at 100+80 p/w the reason being that it is effectively a duplex but registered as 2 2br flats….
i just put the rent up to 100+90 p/w because i thought it wasn’t fair that there be such a difference between the two even though one is in not so good cond. (due to the current tenants)….
dont think the property has moved much in price but i hear that ANZ will borrow against an 8% capital/equity increase? which shouldn’t be too far away….
taz
thanks Brenda..
So it’s not just me going mad…. it is just maddening at the start…!
thanks holden…
I guess I have had this goal of semi-retiring by 30 since I was 20 and maybe I’m having a mini mid-life crisis that I won’t get there…. perhaps I should be more faithful and patient…
