Or west sydney – with Granny falt

My understanding is that it is 6 years…although maybe I am confusing this with PPOR CGT exemption. However i also think it is not necessarily limited to this. ATO have, on occasion, still asked for GST on developments sold after this period.

Depends on number of dwellings and number of bedrooms. 20-25k per dwelling in QLD. But also depends on council. No idea in WA.

Terry,thanks for comment. Led to this link from ATO, which covers it fairly well.http://www.ato.gov.au/content/downloads/BUS00271328n73740_02_11.pdf

Depends on how good your crystal ball is – and how large your debt on PPOR is….Run some numbers1) based on getting rent, claiming 75 % of expenses AND paying CGT on 75% of PPOR when you sell…..of course you need to predict when you will sell and how much capital gain there will be between now and then (say 4% per annum)2) based on getting…[Read more]

If it was only one room you were renting out then you could come to a "Private Agreement". Such as your flatmate pays all the expenses – such as groceries / power  etc – AND does NOT pay you rent!! As soon as you recieve rent – then the tax dept will be interested (as it is income) – trade off being able to claim expenses pro-rata.Not sure on l…[Read more]

Not sure, I think yes BUT once you do so then also 75% of PPOR would be subject to capital gains!!Try this website http://www.bantacs.com.au/  Might be something like your question already asked here.

For PPOR compare rent to Interest on loan + Insurance + Rates + Maintenance……If numbers are close then buying PPOR will make more sense. Still pay into offset account – INCASE this house becomes a rental later.

Fair to reasonable chance that this claim may put the builder out of business…..resulting in owners having to find the money……resulting in a rush to sell and drop in prices….- What other building issues will subsequently arise? (unknown)- Also how about issues with Owner Z refuses to pay?Ask for 50k for 5 years, and to cover ANY special…[Read more]

best place to park your money is in your offset account – from your previously purchased property !! all else is second best….saving for first property is a bit tougher.

Cant help sorry, but i am curious – where exactly in NZ is it

Richard,I have a property (In Gladstone) that i could sub-divide and build on the back. But would need to borrow to do so. Could you give us an outline of the (rough) difference between a construction loan vs normal residential loan…(criteria / int rate difference etc.)- Bad time to revalue, but i may be able to use existing equity to fund a…[Read more]

If you subscribe to the thinking that capital gains on dream home over the next few years will be low – which from the general description of dream home likely location is probably the case…..Then- Forget about 1st home owners grant- rent in desired area (at such a young age, and just starting in career – who knows where job / girlfriend will…[Read more]

Find out the body corp costs and status, and also vacancy rates for the area – before jumping in to something like this. There are plenty of down town units for sale – at low prices. It might be +ve cash flow, a little. But almost no capital gain – for quite some time.

As well as sorting out the Laneway issue you also want BOTH properties (with laneway) – or NONEIf you succeed with one but not the other, or the laneway purchase is not agreed to by council then you will not have made a happy purchase. I think at some point you are going to have to show your hand – unless you can get a cast iron agreement from…[Read more]

Gidday Brad,I am also on Gold Coast so interested to hear responses to this question – not one i can answer though.

4 Sighted. To whom did you apply for an SSN, and where did you do it from?

I am sure I have been told that the easiest way to get an ITIN is to wait until you file a tax return. Then check a box somewhere on the tax return form saying "I need an ITIN" and they Govt will sort it out for you.Sorry i cant give you a reference – but believe it to be correct.

A more useful resource, if any one knows of it, would be an idea of rental vacancies. By zipcode…any ideas on this would be appreciated.

IF you do persist with renting to a relative then i would strongly advise that you approach the ATO prior for a PBR (Private Binding Ruling).Just tell them what you intend doing, and the source for determining market rents. With luck they would agree with you and the auditor would just need to enforce annual rent reviews to bring the rent in line…[Read more]