Forum Replies Created

Viewing 7 posts - 1 through 7 (of 7 total)
  • Profile photo of VPVP
    Member
    @vp
    Join Date: 2008
    Post Count: 8
    March 25, 2013 - 2:44 am

    I have read this thread all the way through…….it is very informative……….but I could not find the answer that I was looking for. Could the experts here please help me with the following?

    My Question……..

    I want to buy a vacant land and subdivide it and build multiple units (4 or 6 units). However, I have the following questions:

    1.       Shall I buy it under company or under my personal name?

    2.       Regarding Capital Gain Tax, I heard that there will be 50% discount if I hold asset for more than 12 months. When shall I start to count the 12 months, from the settlement of land or from the construction of the building or from the time of subdivision or title issues?

    3.       50% CGT discount apply to personal purchase or company purchase?

    Thanks

    Vidy

    Profile photo of VPVP
    Member
    @vp
    Join Date: 2008
    Post Count: 8
    January 11, 2009 - 7:47 am

    Hi Etty

    Where is the property, is it in Bentley?

    Is there an option to build another house in the backyard given the block is reasonably big?

    6K +ve cash sound good to me

    Vidy

    Profile photo of VPVP
    Member
    @vp
    Join Date: 2008
    Post Count: 8
    December 31, 2008 - 7:45 am

    I had similar experience with Central Equity who had an information session in Perth a few months ago, and they were trying to sell 22sqm units for 209K. I am not sure who invests in such deals.

    Profile photo of VPVP
    Member
    @vp
    Join Date: 2008
    Post Count: 8
    December 31, 2008 - 2:58 am

    Hi  mitchellmcintyre

    I agree with Terryw's suggestion, i.e. if you have outstanding non-deductable debt then focus on paying off that first and have your first IP on IO.

    But once you have repayed your non-deductable debt, I personally would prefer to stick with PI.

    I feel more secure when I dont have too much outstanding debt :) I guess it depends on individual's personality and whether you feel comfortable in debt or not.

    If you plan to invest in multiple IP then it would be wise to go for IO since it can give you more borrowing capacity.

    Cheers
    Vidy

    Profile photo of VPVP
    Member
    @vp
    Join Date: 2008
    Post Count: 8
    December 29, 2008 - 9:07 am

    Hi roba72

    I just checked the site but could not find any properties listed in WA
    I guess they dont have any +ve geared properties any longer in WA

    Vidy

    Profile photo of VPVP
    Member
    @vp
    Join Date: 2008
    Post Count: 8
    December 29, 2008 - 8:34 am

    Hi Janet

    I had similar ideas like you but not on the renovating front but on building new properties in Perth in suburbs like Queens Park, East Cannington, Kelmscott or Belmont.

    I have a house and plan to repay it by end of 2009, but then I have a huge Tax bill, which I want to reduce and hence I was planning to get my first IP. But after reading the comments on this thread I might have to think twice.

    Can I request the experts on this thread to suggest if we dont invest in property what other options do we have? I dont want to keep my money for 5% bank interest or blow it in a Casino :)

    Are overseas investments an option? I have invested in India 2 years ago and the market there is peaked and not a good investment choice at this stage.

    Vidy

    Profile photo of VPVP
    Member
    @vp
    Join Date: 2008
    Post Count: 8
    May 29, 2008 - 7:50 am

    This link may be useful
    It lists the top 40 melbounre suburbs with number of burglary

    http://racv.com.au/wps/wcm/connect/Internet/Primary/insurance/home+security/burglary+statistics/high+risk+areas/

    cheers
    vidy

Viewing 7 posts - 1 through 7 (of 7 total)