That’s one of the most innovative site I’ve ever seen, quentin. This Dale must be one hell of a gun accountant. The taxman must love him!!!!!!

The ATO allows you a certain period to sell the previous property. I’m not sure what that period is, probably about 6 months. Hence there should be no CGT involved.

There are two issues here, one corporate & one tax. To buy a cheap shelf co in Victoria, try http://www.feest.com.au 0r 03 95331488

To register for an ABN, you need to go to the Tax website http://www.ato.gov.au.

Costs of the company is capital & not tax deductible.

Some ten years ago I was involved in talks with a major carpark operator who was thinking of that. After due diligence, I pulled out. I notice to this day, that concept has not taken off.

I don’t think there is a major surburban shopping centre out there which is game enough to charge customers to park.

Can you get affiliated with some music schools in your area & provide music tuition? Tuition hours can suit you & that may stop your cash drain. Build up a few months of steady income & your bank may look at your situation differently.

Hey man, how can you only earn $6K & spend $35K?
How are you financing the remaining $26K on a yearly basis?

For all whose employer is with ANZ, you’re in luck. The ANZ also offers you a very attractive banking package with up to 0.6% off your variable rate. Its call anz@work. Just ask your employer to get the local manager down & explain the benefits.

Yes, I’m from Perth. If you require further assistance, I can be contacted at kenglee888@yahoo.com.au

You can get quite alot of info from http://www.asic.gov.au

Otherwise just drop into your local library, there are heaps of books on this sort of things.

Try Landlords Advisory Service at Suite 5/16 Moreau Mews, Applecross. Phone 9316 8533.

I bank with CBA & I get allocated a relationship manager. The big advantage is that you talk to the same person who can make a decision fairly quickly. The manager also offers innovative financing options that allow me to borrow the costs of the property plus stamp duty. Very handy. Best part, you can haggle over both fees & interests rates.

You have to do your sums on this one. As an indication, the costs of a shelf company is around $1,000. Trusts are about $200. Stamp duty on the trust in NSW I believe is $200. Then there’s your accountant’s fees.

After that, there’s annual filing fees for the company of $200 plus preparation costs by your accountant. Unless the stamp duty…[Read more]

Depending on the value of the property, it may be worth your while to set up a company/trust structure for each new property you purchase.

Please note there is a difference between a unit trust and a discretionary trust. Distribution to a unit trust is in according to the units held. A discretionary trust allows you to distribute as you see fit & is therefore considered a superior structure for both tax planning & asset protection.

The 50% discount on CGT applies to individuals, partnerships & trust who have held a property or shares for at least one year. However a company is not entitle to this concession. This is provided for in the Income Tax Act. For more info on CGT, go to http://www.ato.gov.au

You may be talking about 2 completely different issues. The tax rate may be 30% ie if you are on a fairly high income bracket. However, expenses for an IP are based on actual expenses. Hence they vary. For -ve geared properties, these can exceed 100%.

The WA govt has put up stamp duty to cash in on the rising properties here. No doubt the Vic govt will do the same. Easy money.

As you are from Kal, you’re aware that it is a boom or bust town. When prices of gold & nickle are high, rentals shoot through the roof & vice versa. Generally, fibro houses are very expensive to work on. It is also very difficult to get tradesman who wants to work on them. Older houses generally have more maintenance problems with plumbing &…[Read more]

Many thanks AD, I’m learning all the time.

Restrictions placed on land, esp those in very good locations, are quite common here in WA. However, I’m not familar with the other states. The reason is you stated. Speculation.

However what is not clear is that why did the developer need to drop the price by so much if the location is that good?

It is cheaper to build on a land you have as…[Read more]