Well said emptyvessel. It does seem that all the negative thinking bears want to do is stand on their corner soapbox and become pompous, pious, pontificating 'I know everything' preaching buffoons because most simply are jealous they haven't the balls to do it themselves. Cutting down tall poppies will always be the preferred route of the weak and fearful.

Learn how, then learn about the risks, then learn how to manage the risks, then invest with confidence. Great read!

I like it! Broken down in 14 simple steps. You don't have to agree exactly with all the rules but you can't argue with the logic behind the fundamentals!

We export primary products more so than secondary. Certain countries like the USA may have a downturn in the Car Industry (Secondary) but there will always be other countries that will still manufacture cars and need our steel and iron (Primary).

RICH DAD, POOR DAD Correct Knowledge is the KEY and the DIFFERENCE between the two.

Hi JPR.
It sounds all too familiar – a typical "wealth creation" company that disguises some minor good works through the finance re-structuring but their sole goal is to flog you one of their investment properties. Perhaps if you have a look at this link and look at the very last page with my comments, you might be enlightened!

https://www.propertyinvesting.com/forums/community/heads-up/22554

CHEERS!
TC

What the ? I thought guyser's were found in parks like Yellowstone
CHEERS!
TC

Many thanks Terry. You're absolutely right however, in my humble defence, it was late, I was tired and know that if a mistake is made there will be someone in the forum to rectify! That someone, this time, was you and it is appreciated – particularly for those wanting to learn and needing accuracy!
CHEERS!
TC

G'day Iamsooty.
I worked for Premium Finance Services as an In Home Consultant for 14 months up to the end of Oct last year. The simple answer is this: we were trained to talk about the "Knowledge is Power" we'll give you a "Financial Health Check", do the Retirement Planning, and so on. You would have filled in a signed Assets & Liabilities sheet, a "Booking Confirmation Form" with usually a $295 "Comittment Fee along with Credit Card details, Chq or Cash and finally, a "Statement of Understanding". OK, I think you can see I kinow what i am talking about. We were flown all around the country to basically tell people nothing but reassure them they would obtain the knowledge at the office in BrisVegas.
Here is the bottom line: they will fly you to Brisbane, make you more uncomfortable than the In Home Consultant did as far as how bad off you are and how much you need their help. They will convince you that investing into property is a good thing (which it is!) and then flog you one of their properties. As far as I know PFS is not into blatantly ripping people off but I also know they made an average minimum gross profit per settled property of around $40,000.
Have a look at their website – it basically does what the In Home Consultant does and tells you nothing other than we'll explore ways to minimise your tax (depreciation and tax variation), pay off your home loan faster (by using your varied tax dollars usually through a restructured home loan in an offset/redraw type of account) and retirement planning. The kicker is you will have to sign up for the supposed "Client for Life" program which will cost you upfront of $6600 Incl GST but will be buried in your loan restructuring.
Go to Brisbane on PFS, let them explore ways to improve your financial position, but be resolute and strong. Do not commit to purchase on the day. Exercise your freewill to do your own homework in your time. If you should buckle under the weight of pressure to buy, remember you can simpy "cool off" as QLD has a mandatory min 5 day cooling off period.
I hope this has been enlightening!
CHEERS!
TC

Hi JPR.

OK, settle down young grasshopper.
CGT works on the govt taking 50% of your profits for the financial year you sell the property in and then add this gain onto your earnings for that year. This then gives you a total earnings for that year which is then taxed at the marginal tax rate the total earnings falls into. SO, what does all that mean grasshopper. For an example:  You have just sold your IP this financial year 2010-2011 and realised a gross profit of say $100,000. You also earned a gross income of say $70,000. Now the ATO will allow you to be taxed on 50% of your capital gain (or profit) which equals 50% of $100,000 equals $50,000 Capital Gains. Now, the ATO adds this $50,000 to your earnings of $70,000 making your gross earnings for that tax year to $120,000 which you will then be taxed at the current marginal rate of 47c in the dollar. Therefore $120,000 x 47% ($56,400) = $63,600 nett. So in effect you paid $56,000 in combines CGT and Income Tax.
As for your depreciation allowances, if your depreciation schedules are done by a Quantity Surveyor then you do not have to pay back what you have claimed in the 10 years you claimed depreciation. Check out the ATO site for more specific info or simply call a QS such as BMT Tax Depreciation in your Capital City.
I hope this has been of benefit.
CHEERS!
TC