Forum Replies Created
WOW!
Thanks Derek, I’m glad I posted this question. You’ve certainly given me alot to research and think about. [bigeyes]tuppence
There is no fee for the 4 week protection, they charge 7.5% to manage the property.
The example I have been given shows the weekly payment to be $110 on a $300k property.
$10k for Acquisition costs (stamp duty, legals, title searches/outlays, body corporate, insurance) and Deductible items (legals, search fees, valuations, mortgage insurance, establishment fees, stamp duty – mortgage, procurement fee.
Cash Flow weekly rental income $250 – $12500
cash exp (loan int, council rates, management fee, insurance) $24900
short fall $12400non cash deductions (bldg depreciation, chattell depreciation, borrowing costs) $8150
total deductible $20550
Based on an income of $55k the tax payable would be $13380. However with the above deductible the new tax payable would be $6680 thus giving us $6700 to use against the short fall amount of $12400 leaving $5700 to be paid by us on a weekly basis of $110.
These figures are all estimates and used only as an examply by Domain Charter grp. The following professionals are prefered by Domain Charter.
MM&R – Jeff Tait (Lawyer)
DAYTONS – Michael Coleman (Business & Property Tax Advisors) DirectorAny advice or questions I can ask them at our next meeting would be greatly appreciated.
tuppence
I’m not 100% sure but they help you to purchase a property from their portfolio and then they manage it like a real estate agent. They offer to pay the rent if the property is left vacant for more than 4 weeks. After the 4 weeks they will start to pay the rent.
Have a look at their website, ‘domaincharter.com.au’
tuppence
Thanks REDWING and Mel,
You’ve certainly given me something more to think about and to keep going with property investing.
tuppence
I am so glad I found your message. I am the 2nd wife of my partner and we have a beautiful 20 month old daughter. My partner also has a 6 year old daughter and pays child support to his 1st wife. I dont want anyone out there to think I’m complaining or that my husband wouldnt support either of his 2 children but there should be a better system for all.
The child support payment is 18% of the gross salary. Now my husband is in the high income bracket and pays 47.5% in tax. He basically has to work 2 days to get 1 days pay. The more you earn the more you pay in child support. I have also heard that my salary can be counted as income towards child support. Is this true?
Do we invest in PCFP and pay more in child support or should we invest to negative gear?
Any advice or suggestions would be greatly appreciated.
tuppence
