Forum Replies Created

Viewing 20 posts - 21 through 40 (of 111 total)
1 2 3 4 5 6
  • Profile photo of tuggerwaughtuggerwaugh
    Participant
    @tuggerwaugh
    Join Date: 2007
    Post Count: 192
    September 5, 2009 - 11:31 pm

    We have BMT to do our depreciation schedules. Our porperties are in Tas but they flew down to do these. They cost us about $600 per property and we were able to claim for the previous tax year. It does not get cut from your selling price, instead you claim a depreciation for tax purposes each financial year…. this amount is deductible from your taxable income. Hope this helps

    Profile photo of tuggerwaughtuggerwaugh
    Participant
    @tuggerwaugh
    Join Date: 2007
    Post Count: 192
    August 30, 2009 - 7:36 am

    Look in last month API magazine.. there is a story on someone who does this for a living. Cheers
    tugger

    Profile photo of tuggerwaughtuggerwaugh
    Participant
    @tuggerwaugh
    Join Date: 2007
    Post Count: 192
    August 21, 2009 - 11:00 pm

    Thanks Kenny…good work on those answers. Cheers

    tugger

    Profile photo of tuggerwaughtuggerwaugh
    Participant
    @tuggerwaugh
    Join Date: 2007
    Post Count: 192
    August 20, 2009 - 8:43 pm

    Thanks fletcher… does that mean I can claim on the cost to get the power and water on? Cheers
    tugger

    Profile photo of tuggerwaughtuggerwaugh
    Participant
    @tuggerwaugh
    Join Date: 2007
    Post Count: 192
    August 20, 2009 - 10:51 am

    well were are building a house at the moment but we won't be in it until about 1 month after when we wanted to temporarily be in our IP. We are currently living in the NT teaching and being accommodated by the government rent free…hope this helps
    cheers

    tugger

    Profile photo of tuggerwaughtuggerwaugh
    Participant
    @tuggerwaugh
    Join Date: 2007
    Post Count: 192
    August 2, 2009 - 11:00 pm

    Thanks Linda…. I will try and remember this down the track when we go down that path. Cheers

    tugger

    Profile photo of tuggerwaughtuggerwaugh
    Participant
    @tuggerwaugh
    Join Date: 2007
    Post Count: 192
    August 2, 2009 - 10:58 pm

    Thanks duckster…thats the sort of advice I was after. Cheers

    tugger

    Profile photo of tuggerwaughtuggerwaugh
    Participant
    @tuggerwaugh
    Join Date: 2007
    Post Count: 192
    August 2, 2009 - 9:45 am

    G'day Linda…

    Thats some great advice…. thanks heaps for that. Just a quick question as to getting 3 independent valuations done on my IP before I move in and use this as my PPOR…. how will these valuations be used down the track? Will it be for CGT purposes, and how will a high/low valuation effect my CGT? Cheers

    tugger

    Profile photo of tuggerwaughtuggerwaugh
    Participant
    @tuggerwaugh
    Join Date: 2007
    Post Count: 192
    August 1, 2009 - 11:16 pm

    Thanks Richard… so if I want to fix up the bathroom and kitchen then I should look to do that in the next few years while it is an IP. My concerns are obviously putting in a lot of new stuff while tenants are living in there, and how this will affect my CGT? How will CGT work when I move in to my IP… I have owned it since 2007 and plan to move in in 2012…. Thanks Richard

    tugger

    Profile photo of tuggerwaughtuggerwaugh
    Participant
    @tuggerwaugh
    Join Date: 2007
    Post Count: 192
    August 1, 2009 - 12:19 pm

    Thanks Richard… you have been a big help for not only myself but a lot of another investors on this website. Thanks again and keep up the good work, it is much appreciated. Cheers
    tugger

    Profile photo of tuggerwaughtuggerwaugh
    Participant
    @tuggerwaugh
    Join Date: 2007
    Post Count: 192
    April 30, 2009 - 10:43 am

    G'day all…

    Thanks for your advice…. I contacted the surveyor, who gave me the solicitors number, who then gave me the director of the developments number. Turned out as expected… happy to waive the covenant, as this was put into place to avoid kit homes and badly designed homes being built. As it turned out there was a badly designed home that they are now challenging in the legal ring. Thanks again guys. Cheers

    tugger

    Profile photo of tuggerwaughtuggerwaugh
    Participant
    @tuggerwaugh
    Join Date: 2007
    Post Count: 192
    April 30, 2009 - 10:43 am

    G'day all…

    Thanks for your advice…. I contacted the surveyor, who gave me the solicitors number, who then gave me the director of the developments number. Turned out as expected… happy to waive the covenant, as this was put into place to avoid kit homes and badly designed homes being built. As it turned out there was a badly designed home that they are now challenging in the legal ring. Thanks again guys. Cheers

    tugger

    Profile photo of tuggerwaughtuggerwaugh
    Participant
    @tuggerwaugh
    Join Date: 2007
    Post Count: 192
    April 29, 2009 - 10:52 pm

    thanks for that advice.. i will still try and contact the developer and just seek some clarification…. cheers guys
    tugger

    Profile photo of tuggerwaughtuggerwaugh
    Participant
    @tuggerwaugh
    Join Date: 2007
    Post Count: 192
    March 13, 2009 - 10:32 pm

    Good on you Richard thanks for the reply. My Wizard broker is putting the grant in for us so i'm assuming the money will go into the bank account in which we use to make our mortgage payments. Does that sound right? cheers
    tugger

    Profile photo of tuggerwaughtuggerwaugh
    Participant
    @tuggerwaugh
    Join Date: 2007
    Post Count: 192
    February 23, 2009 - 9:05 am

    G'day guys…
    thans for the replies….. I spoke to my broker at Wizard today and there are some dodgy things going on….the worst being that when we refinance under the GE loophole we may get whacked with LMI for the second time on the loan….what crap

    Profile photo of tuggerwaughtuggerwaugh
    Participant
    @tuggerwaugh
    Join Date: 2007
    Post Count: 192
    February 22, 2009 - 7:48 am

    G'day Richard…

    Yeah based on the current market we wouldn't fix yet but perhaps at the end of this year or early 2010. Do you think rates will remain steady for the next 12 months? Thats my belief so hopefully we can take advantage of low variable for the next little while.
    Cheers

    tugger

    Profile photo of tuggerwaughtuggerwaugh
    Participant
    @tuggerwaugh
    Join Date: 2007
    Post Count: 192
    February 21, 2009 - 9:39 pm

    Well i went through wizard and thats the deal they got me…has been pretty good on interest rates up to now

    Profile photo of tuggerwaughtuggerwaugh
    Participant
    @tuggerwaugh
    Join Date: 2007
    Post Count: 192
    February 21, 2009 - 11:49 am

    Thanks for that…with GE not dropping their rates I think we will take the get out clause and refinance with Aussie Homeloans, fixing for 5 years and paying interest only on our IP's.
    Cheers
    tugger

    Profile photo of tuggerwaughtuggerwaugh
    Participant
    @tuggerwaugh
    Join Date: 2007
    Post Count: 192
    January 9, 2009 - 8:43 am

    sorry forgot to mention before that I am only 2 years in to a 30 year loan of $570k , having $20k in redraw available at the moment. Didn't think I would be affected this much in such a short time

    Profile photo of tuggerwaughtuggerwaugh
    Participant
    @tuggerwaugh
    Join Date: 2007
    Post Count: 192
    January 9, 2009 - 8:36 am

    Thanks for that… just means that although interest rates are coming down my p&I repayments don't decrease by that full amount really. Oh well…. no big dramas. Thanks for your comments.
    Tugger

Viewing 20 posts - 21 through 40 (of 111 total)
1 2 3 4 5 6