Forum Replies Created
- I personally believe that markets are largely able to balance themselves and that government intervention is a mistake, but they may have actually saved a few of the ‘greater fools’ from financial ruin with this tax
So should this paternalistic and meddlesome approach also be applied to the current sharemarket, which has had a significant bull run? Should there be an exit tax on selling shares? How about an entry tax? How many Mum and Dad investors are buying into the sharemarket now in anticipation of making money……Maybe we should warn the poor masses not to follow blindly and tax them more…[wacko]
Property seems to be an easy touch…and whilst I don’t live in NSW, the next state election will be interesting viewing/listening.
Then interest will be calculated on A$150000.
But if i later redraw 50000 from my offset account even for my personal use then i can still have my entire 200000 IP loan as interest deductibleCorrect![biggrin]…Offset accoounts are a great thing
Made you look.[wink]..Good marketing anyway
I think the key take away from the article is the fact that at ages 19, 22 & 24, Monika, Tom & Ruby have had the foresight & ability to commence investing & planning for the future, inspite of all the distractions to your time & money at that age…
Gees, when I was 24, I think I was prinicpally focused on girls like Monika, but for other reasons![exhappy]
The cost of the new exit stamp duty (2.25%)when selling your IP can be added to the cost of acquisition (cost base) for the purposes of calculating capital gains tax……Therefore, your capital gain liability is reduced
Answer: Father..at 14 he convinced his parents that they needed to move from Greece (lived on a small island)….whilst he worked in an adjoining island sending back money to support the rest of family….Came to Australia, married, prospered…
Question: If you could choose only one of the following, remain in Australia with the love of your life/soul mate or take up a job overseas (min 3 years) which could potentially set yourself up for life, profesionally and financially, which would you choose?
Well my experiences of my BComm were some time ago so they might not be as relevant today.
I majored in economics/econometrics and have been in procurement for the last 7 years…..For memory I selected those (well at least economics)because I did well!..I didn’t have any plan post uni whilst I was there except to travel to Europe to see family …
Fell into property management (both commercial and residential) for a short period of time and then moved onto procurement….
I went to a private school in Melbourne…
I think If you can combine a Bcomm with something else, that may give some more depth from your educational experience…then again it is another year (?) i think…
Good luck whatever you choose
That’s great….thanks Derek.
Victoria
I have confirmed today, that not only can I capitalise the borrowing costs (as long as val is sufficient), but I can also borrow up to 95% LVR. [thumbsupanim] Interest rate is 6.5% (I guess 6.75% when the RBA finally puts the speculation to rest[wink])
Almost like they are throwing money at us…..
Also I have heard somewhere that it is possible to claim tax deductionsThat is correct, it is effectively adjusting the tax you pay as a PAYG tax payer, instead of waiting to the end of the FY to claim the amount owed. It’s called a Section 15 15 (also called tax variation).
What is the best way to go with the loan? Should I pay it weekly on monthly?Do you have a PPOR? If you don’t, then a loan with an offset account maybe a better solution. (If it is an interest only loan, then you pay monthly)
SangDang,
Do you have any specific goals & objectives regarding investing?
What knowledge of property do you have?
Whilst on the surface financially, you might have the ability to invest immediately, I would ensure that you have ‘educated’ yourself in property specifics before you committ yourself.
(You may already have some knowledge, not sure).Ths current state of the market is ripe for young investors to make some errors. [worried] This and other on-line property sites are a good start, with a wealth of experience to leverage & learn off.
Whilst I realise this doesn’t answer your question directly, I think most of the people here have some overall strategy in their investing. You’ll find that this will provide you with the answers that you ask that is suitable for you.
If howver, you have already done this, then, you can disregard everything I have just said…[smiling]
Farenheit or Celcius??[wink]
DFM,
If you are after a valuation to get an indication of price to purchase, the best option is get comparable sales information for similar property types in similar areas
Of course the more relevant valuation you could get are
1. Sworn valuation (which can be done by RE agents)
2. Valuation assigned for 1st mortgage purposesBrahms, new MI’er?!
There aren’t any new MI’ers, or am I wrong?
Isn’t this something that the bank controls ie which MI’er they use
Joel26,
I have found some of the reports from Residex on future capital growth prospects quite informative and instructive. I have used this data (with others) to pinpoint next purchase (specifically for development)
I am ready to buy one, possibly 2 more properties to maxamise negative gearingMaybe it was the way you worded it, but negative gearing or minimising tax shouldn’t be the sole reason to invest, whether property or anything else.
Thanks for your insight Michael.
There is two different areas that I believe causes confusion about the current state of the market.
Activity/sales…having friends & family in r/e, there has been a definite pick-up in activity over the last few weeks, with many more people out looking at properties. This coming after the end of last year where things were extremely quiet.
And price expectations have certainly being scaled back by vendors, after last year, however there seems to be some small little swing upwards…How sustainable that is in the long-term, not sure.
Given this is now (Feb-April) the strongest sales period for r/e at least in Melbourne, this might not be unexpected. However, the perennial complaint I hear from the R/e industry being the lack of quality stock is even louder now than it has been.
Interesting how things pan out during winter and if there is another rate hike… I tend to think, everyone is waiting to exhale in the property market ATM, with so many mixed signals every week about the miriad of influences on RBA rate policy and the economy in general…..Time for cool heads I suspect [suave3]
Can I ask why you are changing from IO to P&I?
25 years instead of 30 yrs means larger payments, but you are paying down your loan quicker. That is all, quite simple really…..
Kirsten1,
Try this
..http://www.national.com.au/Online_Services/0,,21473,00.html#3 & then select Home Buying & Selling cost calculatorThe local council website will usually confirm in what circumstances you need a building permit
