Total Members: 158,198

DEVILZ

  • DEVILZ replied to the topic Is new Lawn (grass) tax deductible? in the forum Help Needed! 9 years, 3 months ago

    This is a dilemma Catalyst. This situation could be seen from either side: Replacing “like for like” (lawn for lawn) or seen as Repair – because as I stated before lawn is damaged and basically doesn’t exist any more and affects its rental potential (got few comments from potential tenants about the state of lawn)

  • DEVILZ started the topic Is new Lawn (grass) tax deductible? in the forum Help Needed! 9 years, 3 months ago

    Hi people,

    I would like to know if I lay new Lawn at one of my IP – can I claim it back during tax return?
    Old lawn was destroyed buy previous tenants and zero care after they left – so it is just patches of weeds everywhere.( I can get evidence like photos and letters from RE agent and company who can lay new turf)

    Will it classify as repair in…[Read more]

  • DEVILZ replied to the topic Accountant brisbane in the forum Legal & Accounting 9 years, 8 months ago

    Hi Richard,

    I moved to Gold Coast so I used your advice and booked appointment with Gold Bussiness Group for tax return this year

    Thanks,

    Slavik

  • I am new to Mackay as well. 3 months here and looking for PPOR. I can tell prices went down for sure compare to what I saw before New Year.but Jotham is right it is not very stable atm due to mining industry… the house that I like to buy was $550K in October but only $485K now…

  • DEVILZ replied to the topic Transferring equity from one IP to another ? in the forum Help Needed! 11 years, 3 months ago

    ok thanks.

    so I leave everything as it is and just need to do Valuation for this Unit (ex PPOR)  that became IP recently?

  • DEVILZ replied to the topic Transferring equity from one IP to another ? in the forum ok I am silly. Thanks Terry 11 years, 3 months ago

    ok I am silly. Thanks Terry

    …went to GOOGLE to get more info about CGT….

  • DEVILZ replied to the topic Transferring equity from one IP to another ? in the forum thanks. 11 years, 3 months ago

    thanks.

    all comments make sense

    but what if in the future I decide to sell one IP which has a lot of equity? in this case if I increase LVR to max and transfer equity to another IP I will save on CGT. Is it right ?

    and another point why I want to do this: That IP is in mining town so it can drop value at some stage (maybe not) so I rather get…[Read more]

  • DEVILZ replied to the topic Transferring equity from one IP to another ? in the forum Help Needed! 11 years, 3 months ago

    I have 2 IP. One is CF+ with a lot of  equity  ~ 150 K ( ex PPOR) and another one is Negatively geared with 0 equity.

    I want to have two CF+ IP.  yes they are both under my name.

  • DEVILZ replied to the topic Strategy needed in the forum Help Needed! 11 years, 3 months ago

    I know it is bad ( I made enough mistakes to understand that) that's why I am here to learn basics and fix it.

    My loans are separate but with one bank and cross-collateralised.

    Correct me if I am wrong: if you are with one bank and your loans are x-coll BANK see them as one big loan. (like in my case: IP #1 is around $320K and debt is $170K so…[Read more]

  • DEVILZ replied to the topic Strategy needed in the forum Help Needed! 11 years, 3 months ago

    Scott No Mates wrote:
    Take the $20K and put it all on black.

    no wonder you have no mates Scott with these kind of advises lol

  • DEVILZ replied to the topic Strategy needed in the forum hmhm true, because it’s cross 11 years, 3 months ago

    hmhm true, because it's cross-collateralised it is ONE BIG LOAN isn't it? and both loans have same interest rate

  • DEVILZ replied to the topic Strategy needed in the forum Help Needed! 11 years, 3 months ago

    as I stated from the start there is a Split IO loan:  $400 K locked and $47 K variable with offset so I can put money there.

    but $47 K loan and Unit loan $170 K they have same interest rate @ 5.79

  • DEVILZ replied to the topic Strategy needed in the forum Help Needed! 11 years, 3 months ago

    Thanks guys,

    The highest is Brisbane one – locked for 3 years ( 2.5 left) @ 5.89

  • DEVILZ replied to the topic Strategy needed in the forum Help Needed! 11 years, 3 months ago

    thanks guys

    I am thinking to put money to offset account # 2 to reduce negative gearing on Brisbane house.

  • DEVILZ replied to the topic Strategy needed in the forum Help Needed! 11 years, 3 months ago

    hey,

    everything is IO. figures are correct. House is 4/2/2 in Narangba QLD. Land is 400m2

  • DEVILZ replied to the topic RBA meeting Tom. What r they gonna do?? in the forum Finance 11 years, 3 months ago

    NAB 0.20 only :(

  • DEVILZ replied to the topic Use of equity in PPOR to place a deposit for IP in the forum Finance 11 years, 4 months ago

    thanks Terry I got concept now :)

    Unfortunately so many people do this mistake – it;s not funny! Even accountants can't get it right !

    I asked my accountant can I put money back and this is her reply : "Yes, that will be okay. No problem with apportionment if it was only a couple of weeks."

    Any comments?

  • lol and he has crystal ball aswell

  • DEVILZ replied to the topic Use of equity in PPOR to place a deposit for IP in the forum Finance 11 years, 4 months ago

    what if you redraw money from your PPOR to offset account and realise you made mistake and put them back in couple of weeks ??

    still 100% tax deductible?

  • DEVILZ replied to the topic What type of vehicle do you have ?? in the forum Opinionated! 11 years, 4 months ago

    Toyota Supra and Jeep wrangler on its way for wife :)

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DEVILZ

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