Forum Replies Created
You could look at options for capitolisng the interest for a short period,meaning you don't make any payments you just have the interest added on top of the loan so the loan amont is actually getting larger each month. I have never done this though.
HANDY ANDY,
look around any inner suburb of any city, units need to be build on land, houses control more land as units creep into the suburbs delvelopers, pay a premium for houses to bulldoze, If your looking for capitol gain you need to invest in some thing that will be come more scarce as the years go by a unit in a 50 story building probally won't be as scarce as a house on a decent block,
I think houses and units in low level walkups in sort after areas will out perform when it comes to longterm automatic profits, due to the fact that these properties control more land.
WEZWAZ,
If you don't have an offset account I think you should look at setting one up to store any cash that you don't need right at that moment, it works like this,
Say your home loan is $100,000 and you have an offset account linked to it with a habalance of $2000, your $2,000 in the offset account will save you interest on your loan for every day you have it in there you only get charged interest on $98,000 instead of $100,000.
this sort of account in better than any other account such as an ING account because your money with be saving you most likely over 7% or what ever your home loan rate is instead of 6% like an ING account, and also because you are saving interest rather than earning interest you won't be subject to tax as you would if you had your money in any other high interest account.
What a mess that situation was, Its great to hear it's worked out in the end, I will definatly be taking more notice of my insurance documents in the future,
Is the tenant who did the work with the star piquet still walking,
As the saying goes,
"we don't inherit the earth from our parents, we borrow it from our children"
and about dimishing oil reserves,
"the stone age didn't end because they ran out of stones, it was because they found somthing better"
Everyone needs to take resposibility for their part in climate change, Make an effort to change your habits it doesn't take much.
On the same Token,
We have all probally been guilty of offering Very low prices to see if we get a bite
I think you best bet is to get a depriation schudule done, there are some companies out there who do it for $395.00 and if you can't claim at least that amount of money back they don't charge you,
you can even back date the depriation to when you first purchased they property
This is a bit of a "moo" discussion
I it is always best to keep Investment Loans and loans on your personal property completely separate, That way there is no question at audit time.
Secondly if you do go ahead and buy a property to live in make sure your investment loan is 100% Interest only and your private home is principle and interest on the shortest term you can afford. That way you are knocking down your non deductable debt faster and maintaining the tax deductable debt till after you have paid off your home.
You shouldn’t have anything to fear from the ato due to low doc loans unless you are actually avoiding tax some how.
I use low doc loans as a simple way to get around all the hoop jumping and paper work trails the banks generally make small business owner’s go through proving income.
It’s simply “look I have this equity and I want to borrow this amount for this property and yes I can pay you back”
obviously if you are hiding large sums of income from the tax office you may be introuble.
G’day there are lots of passive income investment’s
Listed and unlisted property trusts, Stocks, Bonds etc.
[withstupid]
