Roomies, [
My wife an I were discussing our next move in bed the other night, whispering sweet nothings into her ear [
(room fades to black)…Our lease where we are living now will run out in December. And we are looking at buying a PPOR and 2 IPs Buy and Hold (to start the ball rolling) and to get some assests behind us.
If we bought our PPOR, and paid the loan from our wages, while the IPs would be self sufficent. Then hopefully as we add more IPs our loan will be paid by the income from them. etc..
Anyway, the question was. If one of our IPs were -ve geared and say the other 1,2,3,4 IPs were +ve geared, does that mean we still qualify for a tax cut due to the loss on the 1 IP. ?
Im guessing that the overall profit/loss is worked out on the combined income. So if in total we where making a combined profit then we dont qualify for a tax cut. [?]
….That destroyed the mood[
Regards,
Arty.[
Arty
Mood destroyer your not kidding, you must be on tender hooks
wouldn’t it be better the more +’s the better
aaronHey Arty,
You would still end up getting a tax break for the -ve cash flow property. It would just be offset against the +ve cash flow properties. It would just mean that you end up making less of a profit. You still get the same tax break.
Luckyone
Hi Arty
If your expenses are higher than your income then you will get a tax refund.
If your income is higher than your expenses then you will have to pay tax.
Make sure you have a good accountant. He will know ALL the things you can claim on.Ha Ha the Warriors by one. Still you only need only one point to win.
Regards
Housesitter…
It’s Tenterhooks darling. Oh and for everyone in the forum, definitely is spelt with an “i” and not an “a”. it is finite not finate.
Picky picky I know, but….
Steph.
Success is 1% inspiration and 99% perspiration.
Yay! [
Thanks to all that replied, we can sleep now LOL[
..I was right.. she was wrong.. ..I was right.. she was wrong.. ..I was right.. she was wrong.. [:0)]
Regards,
Arty.[
I dont know….you keep telling ya wife that YOU were right and SHE was wrong….I cant see you doing anything else BUT sleeping!! hahahaha
Women are NEVER wrong…I am a woman…I know these things! [}
I am no acocuntant but if you setup the -IP and the +IP in different companies/names could you get a better tax saving?
say if you are the main income earner put the -IP in your name/director and the +IP elsewhere.
I am in IT not accounts but I hear a lot around the office [
But as Muppet said TALK to your accountant or financial adviser
Camviv, [
But if I find out from the account that I was wrong then Id have to go back and appologise ! [
]And Pinky…. “Prove It !” [
Regards,
Arty.[
arty
you want me to prove……that I am a woman
OK..well I have never been asked THAT before!! Usually the “bouncing” gives it away…
[}Camviv, you said the aco****ant word in the forum shame shame shame… LOL
Geez I don’t know what happened their[
Oh and pinky I don’t remember any wrong thing that I have ever done in my marriage, after all there is no point in both of us remembering is there [
Pinky, Ah you play basketball !! [
.. but its called “dribbling” 
The topic ‘To settle a disagreement’ is closed to new replies.
