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    Do a search on the forum.It has been discussed many times before.

    Tools

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    I went to the unleash the power within weekend 3 years ago,and would recommend it to anyone.I took myself way out of my comfort zone by going to another city and attending by myself,not really knowing what to expect.I laughed,cried,walk on a bed of hot coals and was mesmerised for the whole weekend.They are very long days without any breaks,and it really made me think about a lot of things.I don’t think it is for everyone,but if that is your thing,then go for it.I believe the coming upw weekend in Sydney will be the last time he will be live in Australia.And sorry Wayne,but I am not one who is fixated on money and success.

    Tools

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    It may depend on how long the house has been there.It varies state by state,but if it has been there for around 10 years,the neighbours can claim the land as theirs by adverse posession.

    Tools

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    Not sure,but they may be referring to a sinking fund or special levy.

    Tools

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    Maybe I misunderstood you Jarrod.Are you saying that because you are not a registered builder,you want to pay someone else who isn’t registered either to do the work????????

    Profile photo of ToolsTools
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    I think Simon’s question was legitimate.I think what he was getting at is that if it is for your ppor and you are getting the funds cheaper than what the bank can provide after allowing for redraw fees etc,then it may be worth doing.But if it is for an IP then you would need to look at how the ATO would view you redrawing the 60000 in 12 months time,and also I imagine you would need some pretty impressive documentary evidence to be able to claim the interest paid to your family.

    Tools

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    The ATO has strict rules regarding who is and isn’t an employee.

    Employee or independent contractor?

    Determining a worker’s status depends upon the terms and conditions under which the work is performed.
    Does the worker have an ABN?

    If a worker has an Australian business number (ABN) this does not automatically mean the worker is a contractor. You still need to consider the nature of your agreement with the worker.
    Factors to consider

    A key factor in deciding if a worker is an employee is the degree of control that can be exercised over the worker. If you have the right to direct how, when, where and who is to perform the work, the worker is likely to be an employee. These directions may be oral or in writing, or simply understood between the parties.

    Other key factors are whether:

    * the worker is being paid for the time worked by them personally, or
    * whether the worker is being paid to achieve a result where they are able to subcontract or engage employees to perform the work.

    No one factor is necessarily conclusive. It depends on the facts in each case.
    Employee

    An employment relationship exists if some or all of the following factors are present:

    * the payer controls the way in which the worker performs his/her duties
    * the worker performs the duties of their position and cannot delegate or contract out their work
    * the worker is recognised as a part of the payer’s organisation
    * the worker is not responsible for providing the materials or equipment required to do the job
    * the worker is paid for the time worked, rather than on the completion of a specific task
    * the worker takes no commercial risks and cannot make a profit or loss from the work performed
    * the worker receives paid leave (for example, sick, annual or recreation, or long service leave), or
    * work hours are set by an agreement or award.

    None of these factors alone is indicative of an employment relationship. The totality of the relationship between the parties and a consideration of all the factors is required.

    If a worker is an employee, you must withhold an amount from any salary, wages, commissions, bonuses or allowances you pay to the employee and send the amounts withheld to the Tax Office. An employer may also have obligations under fringe benefits tax and the superannuation guarantee laws.

    Apprentices are considered employees for taxation purposes.
    Independent contractor

    An independent contractor agrees to achieve a specified result for an agreed price. In most cases an independent contractor:

    * is paid for results achieved
    * provides all or most of the necessary materials and equipment to complete the work
    * is free to subcontract the work to other entities
    * has freedom in the way the work is done subject to the specific terms of the contract
    * bears the commercial risk and responsibility for any poor workmanship or injury sustained in the performance of work
    * provides services to the general public and other businesses as well as the payer.
    * is free to accept or refuse work, and
    * is in a position to make a profit or loss.

    If a worker is an independent contractor, you are required to withhold an amount from payments to them only where the contractor:

    * has entered into a voluntary agreement
    * provides their work or services for a client of yours under a labour hire arrangement, or
    * has not quoted their ABN to you.

    Superannuation guarantee laws may apply to payments for work or services by an independent contractor in some cases.

    Most independent contractors provide for their tax obligations through the PAYG instalments system. Contractors should also consider whether they need to apply for an ABN and register for goods and services tax (GST). Contractors who come under the contractor tax rules must include their personal services income in their individual tax return and cannot claim some tax deductions. Those operating through a company, partnership or trust may also have PAYG withholding obligations.

    Factors to consider

    Employee

    Contractor

    Control over work

    The employer has an implied right in industrial law to direct and control the work of an employee. The employee works in the business of the employer and the employer is free to manage their business as they see fit.

    A payer has a right to specify how the contracted services are to be performed. However, such control must be specified in the terms of the contract, otherwise the contractor is free to exercise their discretion.

    Independence

    An employee works in the business of the payer. Their work is an integral part of the business.

    Although the work of a contractor is done for the business, it is not integrated into it but is ancillary to it.

    Payment

    Payment is often based on the period of time worked, but an employee can also work on ‘piece rates’ or commission.

    Payment is dependent on the performance of the contracted services.

    Commercial risks

    An employee generally bears no legal risks in respect of the work; since the employee works in the business of the employer, the employer is legally responsible for any work performed by the employee.

    A contractor bears legal risk in respect of the work. They have the potential to make a profit or loss, and must remedy any defective work at their own expense.

    Ability to delegate

    An employee performs the work personally and generally cannot subcontract the work to someone else.

    Unless otherwise specified in the contract, a contractor can subcontract or delegate the work.

    Tools and equipment

    The employer, except when specifically agreed otherwise, usually provides tools and equipment.

    Generally, a contractor provides their own tools and equipment.

    And that is before you look att workcover and superannuation….

    Tools

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    I’m with Stuart…what happens if you can’t get finance,or can’t get it at a rate that makes the whole thing feasible or in deed profitable?

    Tools

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    If you must have a serviced apartment,there are cheaper ones around offering better returns….

    Profile photo of ToolsTools
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    Don’t buy it.
    It is a serviced apartment,and not a very well performing one at that.I just sold a serviced apartment in Southbank that I bought in 1998 for $188000.I was getting 7.5%net return,so it wasn’t costing me anything,but I only sold it for $11000 more than what I paid for it,and that took over twelve months to get a sale.If you want a hassle free investment then they are great…no outgoings to pay,no maintenance,no vacancies……but no capital gain!

    Tools

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    are we talking a couple of sheets,or hundreds???/

    Profile photo of ToolsTools
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    If you are in Vic,try Atkar in Hallam

    Tools

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    Hi Mikala,
    Sorry, I probably didn’t explain myself too well.For a residential property where you incur expenses that include GST and you are not registered for GST,you claim your expenses as a tax deduction including the GST paid.So if you buy something for $11,you claim the expense as $11,not as$10 and $1 GST.Naturally though,all you get back of that $1 in GST you have paid is the amount of your tax bracket,not the full dollar you woul dget back if registered for GST.Sorry to have led you astray.

    Tools

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    Unis are holding their open days at this time of year.Rock along and speak to them yourself face to face.

    Tools

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    $70 sounds quite reasonable to me.Don’t forget that the plumber needs to get to your place as well as doing the job.Someone needs to pay for this time,so I think that is ok.But as was suggested,get the local handyman to change the washers if you can’ t do it yourself.

    Tools

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    Mikala,
    GST is claimed back through regular business activity statements,not claimed as a tax deduction.I would suggest that if you don’t have an ABN and are not registered for GST when you purchase,then you won’t be able to claim it back.

    Tools

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    Not sure about the first question,but regarding the permit situation,it depends on the location of the fence.In Victoria,it depends on if it is a front or side fence,the height,if you are on a corner block etc.Best to check with your local council.I would try their website as first port of call,and you may find what you want there.

    Tools

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    A little off the topic,but why is it such a drama if the certificate is lost.I would have thought that the appropriate department holds details of the property and who owns it,and if you can prove your identity and it matches that in their records,there should be no drama.Why is this not the case?

    Tools

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    I am not sure of the right answer,but I would imagine that if the wall is on the builder’s site,and he has council approval,then he could demolish it.This may get complicated if say the wall was a part of the nighbours front fence,but had still been built on the neighbouring land.But I would still imagine it could be demolished.As a commercial site manager myself,I would have no qualms about demolishing it,but I would have first spoken to the occupier of the property just to inform them (not to seek their opinion),and then I would ensure the continued security of the neighbouring property by erecting temporary fencing and covering it with shade cloth to try and stop some of the dust.

    Tools

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    Misty, they were asking about your mortgage,if it is for an IP or PPOR.

    Here is a link to an online calc,or you could do it manually as detailed previously.

    Tools

    http://www.apimagazine.com.au/calculators/compound_interest.html

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