terryod

terryod replied to the topic Negative Gear Family Home in the forum Legal & Accounting 14 years, 7 months ago

Thanks Mr501 and KCM for your comments.Just so I can be clear, I thought you could only negative gear a loan on a property if the loan is for investment purposes at the outset (has to do with intent at time loan is taken) and the property is likely to make a positive return at some time in the future. I did not think you could negative gear the…[Read more]

terryod started the topic Negative Gear Family Home in the forum Legal & Accounting 14 years, 7 months ago

I asked this question in a different forum, but got confused on who was repling to me.

A friend of mine moved out of his family home and moved into a new house. He kept his first home and rented it out when he moved into his new home. He has been negative gearing the first property since moving out. I said this is not right and he may get hit by…[Read more]

terryod replied to the topic Turning my family home into an investment property in the forum I have a similar question, a 14 years, 7 months ago

I have a similar question, a friend of mine moved out of his principal place of residence and moved into a new house. He has been negative gearing the first property since moving out. I said this is not right and he maybget hit by the ATO if he gets audited. Can som on let me know what the go is here?

terryod replied to the topic Internet Research in the forum No, I was hoping to get my 15 years, 4 months ago

No, I was hoping to get my head around the variables of what makesa good investment, where they are, some sales data etc?