Replies Created | Forums | Terryw | PropertyInvesting.com

Forum Replies Created

Viewing 20 posts - 1,121 through 1,140 (of 16,319 total)

« 1 … 53 54 55 56 57 58 59 60 61 … 816 »

Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
April 29, 2016 - 10:54 pm
Yes, I agree with Corey. You would be throwing tax savings away by using your cash to invest.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
April 25, 2016 - 12:21 am
You mean if you buy as trustee of a trust?
it will depend on the state legislation where you are buying, but you would generally qualify I think.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
April 24, 2016 - 3:46 pm
no.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
April 24, 2016 - 3:43 pm
who pays the ongoing expenses? what about land tax?
How you thought about ownership structure?
How will you fund the deposit?
Do you expect the values to increase?
Any options to renew?
Have you had the lease reviewed?
What is the cash on cash return?
What is the opportunity cost of investing in this – tying up deposit, using borrowing capacity etc.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
April 21, 2016 - 9:01 pm
You should consider GST still. It may not apply on the eventual sale if after 5 years, but there are other issues.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
April 21, 2016 - 4:00 pm
There is generally no CGT on subdivisions – but just income tax. Don’t forget to factor in GST too and you also need to consider structuring the loan so as to maximise deductions. you need specific tax advice.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
April 20, 2016 - 6:11 pm
The end result will be the same either way. You will be paying interest on all loans until the old main residence sells.
You can buy the new property as the main residence and get the reduced stamp duty. A bridging loan won’t change this.
Go for the one with the lower interest rate.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
April 20, 2016 - 4:57 pm
A an oral contract for land is generally unenforceable. It needs to be in writing, but this doesn’t necessarily need to be a formal contract, it could be via email or the back of an envelope. Best to ask your lawyer.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
April 20, 2016 - 4:54 pm
I advise on the legal and taxation aspects of property as a lawyer and the loan aspects as a broker. But I have no connections with developers other than having a few as clients.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
April 20, 2016 - 11:53 am
I don’t deny that.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
April 19, 2016 - 1:28 pm
A licensed person that you engage to find a property that meets your requirements.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
April 18, 2016 - 6:01 pm
data bases are not like rent rolls. a rent roll is a business you can transfer. a database is a list of names which were collected for one reason or another, usually without the expectation that the details would be sold to third parties.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
April 18, 2016 - 1:34 pm
Consider a buyers agent?
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
April 15, 2016 - 12:56 am
Thanks Bjoern.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
April 14, 2016 - 10:57 pm
Bjoern, what is the fee that this mob charge to sell you a property? Did you ask them how much the commission they also receive on the sale from the developer?
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
April 14, 2016 - 10:55 pm
Good work Bjoern. beware of sales people using the word ‘mentor’
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
April 13, 2016 - 4:57 pm
You should aks your accountant 2 questions:
1. Why
2. Are you wanting me to spend $10,000 to get back $1000?
and maybe a third
3. Are you an idiot?
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
April 13, 2016 - 9:09 am
If off the plan you have the ability to settle in different names than the contract and do so without extra stamp duty. get advice on s42 Duties act wa.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
April 13, 2016 - 9:01 am
No thanks.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
April 13, 2016 - 12:21 am
in WA transfers can be made without duty where the property goes from 1 spouse to both spouses equally if the property is the main residence.
Plan ahead for some strategies.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au