Steve
Just finished reading your book and must say its a great read and applies the Kiyosaki positive cashflow approach to property in a clear and practical way. I also liked your balanced comments on negative gearing.
Will certainly be taking a closer look at your approach, although I can see from some initial research that finding suitable properties is not easy.
One piece of feedback from a fellow CA (who is still caught in the daily grind of a large firm) re Table 10.6 on page 142. I don’t think the taxable profit should include the deductions claimed in prior years for the building write-down under Division 143. That is, of the $38,350 included in taxable profit, $13,650 ($2,750 p.a.)is not actually assessable. This is because, unlike the depreciation provisions, there are no “balancing adjustments” under Division 43 of the legislation to recoup prior deductions for the building write-off at the time a property is sold.
Cheers
Hi hufnstuf,
Could you please explain this in non-accountant language? I think I know what you mean but I thought it was the chattel depreciation that wasn’t recouped.
Rod.
Hi all. As I sit here on the forum, my copy of ” the book” just turned up five minutes ago (via courier) so I know what I’ll be doing for most of today.
Cheers
Marty
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