PropertyInvesting.com | Ben Ellingsen | Activity https://www.propertyinvesting.com/members/ben-ellingsen/activity/ Activity feed for Ben Ellingsen. Tue, 14 Apr 2026 23:39:05 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 fba0f9458c30d459eb09d0bfff8b602d Ben Ellingsen replied to the topic would you fix your IR for 10yrs or more in the forum Finance https://www.propertyinvesting.com/topic/4394931-would-you-fix-your-ir-for-10yrs-or-more/#post-4596661 Wed, 07 Jan 2009 07:56:51 +0000 You need to be very sure about your strategy. Remember a fixed rate loan locks you into that property for 1, 2, 3, 5 or 10 years – otherwise it can be very expensive to exit! The only other alternative is to switch the loan to a new property but you have to have the right loan in the first place.

]]> a77980d6e8be66210bbc7f28d42050f5 Ben Ellingsen replied to the topic Are you liable for Capital Gains tax on your PPR if you claim a small portion of it as a Home Office tax deduction? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4395074-are-you-liable-for-capital-gains-tax-on-your-ppr-if-you-claim-a-small-portion-of-it-as-a-home-office-tax-deduction/#post-4597479 Wed, 07 Jan 2009 07:50:20 +0000 There is a difference between claiming your office as a "home office" and a "place of business". When claiming as "home office" there is no CGT implications but you are limited to claiming running expenses ie. depreciation on furniture and the statutory 26c/hour as prescribed by the ATO for lighting, heating, etc. When claiming as "place of…[Read more]

]]> 381c1d19632d8d5f9b484acea786dd8b Ben Ellingsen replied to the topic To Trust or not to Trust: that is the question. in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4394947-to-trust-or-not-to-trust-that-is-the-question-4/page/4/#post-4596837 Wed, 07 Jan 2009 07:40:45 +0000 DanielThe accountant you spoked to doesn't have a clue! – I can say this because I have been an accountant for 11 years. A DT is the way to go.From reading the comments above, it would seem the concept of a Family Trust was discussed. Put simply, if there are losses from prior years to carry forward you need to lodge a Family Trust Election which…[Read more]

]]> 36671f030113312854ca9b40052b56e5 Ben Ellingsen replied to the topic Do i have enough equity to borrow 250k-300k? in the forum Andrew Is your loan fixed? https://www.propertyinvesting.com/topic/4395046-do-i-have-enough-equity-to-borrow-250k-300k/#post-4597336 Mon, 05 Jan 2009 07:01:24 +0000 Andrew Is your loan fixed? Watch any break costs!

]]> 24057864bb7a0e8dabf056f05fda9caf Ben Ellingsen replied to the topic contract and offer ideas needed to help financing later ? in the forum Finance https://www.propertyinvesting.com/topic/4395049-contract-and-offer-ideas-needed-to-help-financing-later/#post-4597346 Mon, 05 Jan 2009 06:57:34 +0000 I would use an option incorporating agreeable terms.

]]> 12b567f179a6c35a9f0b0adcb485f632 Ben Ellingsen replied to the topic Why & How Do Investor Rent their Own Ppty? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4395022-why-how-do-investor-rent-their-own-ppty/#post-4597201 Mon, 05 Jan 2009 06:54:42 +0000 ptykit wrote:
Hi all,Can I ask a question about capital gain on an investment property?I bought a house in 2005 to live in and moved out in 2007, it has been renting since then. I just realized that I should get a house valuation done before it became an investment property. I plan to sell the house in 2010, can I do a valuation now in order to…[Read more]

]]> 4530223b92933c37d7836a9ddfbe945c Ben Ellingsen replied to the topic Why & How Do Investor Rent their Own Ppty? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4395022-why-how-do-investor-rent-their-own-ppty/#post-4597200 Mon, 05 Jan 2009 06:52:40 +0000 icecool wrote:
thks terry & ben.So Ben, in order to rent back to live myself I will have to first set the Trust to purchase the property in a Trust or Company. How will you structure it for maximum benefits if it were you?? appreciate your advice. thks

 I agree with Terry's comments regarding the quarantining of the losses – hopefully you are…[Read more]

]]> 0586b691508fd7277eaea8747e24880d Ben Ellingsen replied to the topic How to legally protect my fiancee, who will be helping to make loan repayments? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4395031-how-to-legally-protect-my-fiancee-who-will-be-helping-to-make-loan-repayments/#post-4597249 Mon, 05 Jan 2009 06:48:09 +0000 It would need to be an agreement signed and dated by both parties, setting out the terms of the arrangement.

]]> 358f0b7442c18cb7fd984ce7b19f11fb Ben Ellingsen replied to the topic "I BUY HOUSES FAST" signs in the forum Heads Up! https://www.propertyinvesting.com/topic/4394519-i-buy-houses-fast-signs/#post-4594635 Fri, 02 Jan 2009 02:04:27 +0000 I don't mean to be rude, but what business is it of ours what signs are put up on telephone poles! If they are as horrid as you suggest, and they are on telephone poles, your local Council will take care of them. By the way, it's not me!

]]> 1ce037e7b5fa925ac7d4d9295430e857 Ben Ellingsen replied to the topic Why & How Do Investor Rent their Own Ppty? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4395022-why-how-do-investor-rent-their-own-ppty/#post-4597194 Fri, 02 Jan 2009 01:48:00 +0000 You can purchase the property in a Trust or Company and rent it to yourselves (at market rent). However, Companies and Trusts can never receive the main residence exemption, so whilst there will be some initial tax benefits, CGT will be payable on the sale.

]]> 0f8c93c1a3b018b3aaa13d1366902e4c Ben Ellingsen replied to the topic How to legally protect my fiancee, who will be helping to make loan repayments? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4395031-how-to-legally-protect-my-fiancee-who-will-be-helping-to-make-loan-repayments/#post-4597247 Fri, 02 Jan 2009 01:44:09 +0000 I think an acknowledgement of debt would be the way to go – because you are talking about a liability you can't make provision for it in your will. Your estate will collect all outstanding monies and pay back your fiancee as per the acknowledgement of debt.

]]> 751929456d1481963f4c2cdf15f75e7d Ben Ellingsen replied to the topic To Trust or not to Trust: that is the question. in the forum Qlds007 wrote:If the https://www.propertyinvesting.com/topic/4394947-to-trust-or-not-to-trust-that-is-the-question-4/page/4/#post-4596827 Fri, 02 Jan 2009 01:38:56 +0000 Qlds007 wrote:
If the property is sold (whether it is owned personally or in Trust) and a contribution is made into Superanuation then the Contribution (Subject to not exceeding the maximum contributions per year) can be offset against any Capital Gain.I.e You make a Capital Gain of $50K and $50K is Contributed into a SMSF that year.The…[Read more]

]]> 828f7fd08effbe0f91b981e36e5509cc Ben Ellingsen replied to the topic Is it Really Worth to Rent Out PPR & Rent elsewhere?? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4395023-is-it-really-worth-to-rent-out-ppr-rent-elsewhere/#post-4597215 Tue, 30 Dec 2008 09:05:19 +0000 The advantages of converting your PPR to an IP and renting can be substantial – tax savings (don't forget depreciation may be claimable on the construction cost of the house – depending on the age of the house) and you may be entitled to some rent assistance (if you have children) – in some cases this can be approximately $60 per week.

]]> 6ba8b0b3ba4be3b7b4c7869abae835f0 Ben Ellingsen replied to the topic To Trust or not to Trust: that is the question. in the forum Qlds007 wrote:Ben NAB https://www.propertyinvesting.com/topic/4394947-to-trust-or-not-to-trust-that-is-the-question-4/page/3/#post-4596822 Mon, 29 Dec 2008 23:43:37 +0000 Qlds007 wrote:
BenNAB Commercial loan goes to 70% LVR on residential property and the interest rate is 6.74% variable.The set up costs including the Bear Trust and new Pty Ltd Company come to around $6000 with the right Solicitor.I have done 7 of these deals to date and admitedly they are not straight forward I would certainly recommend it to a…[Read more]

]]> 63e840d5947bb7c0d2b56a1948caa8b0 Ben Ellingsen replied to the topic turning ppr into ip in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4394979-turning-ppr-into-ip/#post-4596993 Sat, 27 Dec 2008 23:07:48 +0000 Terryw wrote:

ibis69 wrote:
I am told that you can rent out your PPR and rent a property fro a similar purpose,The benefit you get back could be up to/more than about $26,000 ,I envisaged thsi to be the sort of deal where really both rents equal out and you end up basically with your normally home loan but with a bonus of Approx $26,000 …[Read more]

]]> b96506f780589cf5c182109a21e67959 Ben Ellingsen replied to the topic To Trust or not to Trust: that is the question. in the forum daniellee wrote: Hi, Joyce I https://www.propertyinvesting.com/topic/4394947-to-trust-or-not-to-trust-that-is-the-question-4/page/3/#post-4596815 Sat, 27 Dec 2008 23:02:49 +0000 daniellee wrote:
Hi, JoyceI have no idea how much C&N would charged over the average accountant to do the returns for individuals with IPs, or tax returns for trust. Then again, I have no other reference to compare against. That is another reason why I am planning on meeting another accountant, to get a difference point of view on the feasiblity…[Read more]

]]> a0720131ab6ee951970d54ddbf4729fe Ben Ellingsen replied to the topic To Trust or not to Trust: that is the question. in the forum daniellee wrote:Hi, https://www.propertyinvesting.com/topic/4394947-to-trust-or-not-to-trust-that-is-the-question-4/page/3/#post-4596814 Sat, 27 Dec 2008 22:55:27 +0000 daniellee wrote:
Hi, BenWould it not be expensive to have one property per trust only?I spoke with another accountant with experience in dealing with property investors, and he advised me to write everything that I wanted to use a trust for down, so that we can go through the feasibility of a DT after the new year. Already, I am looking forward…[Read more]

]]> 7e5145497fd871062bf4ac14ce86e87c Ben Ellingsen replied to the topic To Trust or not to Trust: that is the question. in the forum give90 wrote:ben;why do you https://www.propertyinvesting.com/topic/4394947-to-trust-or-not-to-trust-that-is-the-question-4/page/3/#post-4596813 Sat, 27 Dec 2008 22:50:52 +0000 give90 wrote:
ben;why do you establish a new disc trust for each property?

Reason 1 – asset protection – if one trust is sued all assets owned by the trust are "up for grabs"Reason 2 – when applying for finance, you don't have to include details of all your other properties which makes things a whole heap easier – this is a trick I learnt from…[Read more]

]]> f7def2070d3b612b0691ca766416bb05 Ben Ellingsen replied to the topic turning ppr into ip in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4394979-turning-ppr-into-ip/#post-4596990 Wed, 24 Dec 2008 01:39:08 +0000 No additional costs, but if your old PPR was your PPR for the entire time you owned the property up until it became available for rent, you can obtain a valuation of the property when it first becomes available for rent. The value becomes your cost base for CGT purposes for when you sell the property rather than what you paid for it. For e…[Read more]

]]> 2408bc0165e7051f532b4b5c9dda6034 Ben Ellingsen replied to the topic To Trust or not to Trust: that is the question. in the forum I have been an accountant https://www.propertyinvesting.com/topic/4394947-to-trust-or-not-to-trust-that-is-the-question-4/page/3/#post-4596803 Wed, 24 Dec 2008 01:33:10 +0000 I have been an accountant for 11 years I have never recommended any of my clients touch hybrid trusts – reasons being, they are complicated and expensive.My recommendation would be the establishment of a discretionary trust. Not only is it my recommendation, I established a discretionary trust for each of the investment properties I have purchased…[Read more]

]]> 361ccbe7e0ce5d2032c7de7f05c9104c Ben Ellingsen replied to the topic Break Cost of switching fixed rate to variable rate? in the forum Finance https://www.propertyinvesting.com/topic/4394991-break-cost-of-switching-fixed-rate-to-variable-rate/#post-4597038 Wed, 24 Dec 2008 01:25:21 +0000 It is interesting to note that there are about 6 different borrowers who are before the courts challenging the validity of the "break costs" charged by financiers. I know that it does not answer your question, but just thought you would be interested to know.

]]> 7f3d43c39e79987410383d02242638c3 Ben Ellingsen replied to the topic Cash flow strategy. Is this Legal in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4395005-cash-flow-strategy-is-this-legal/#post-4597086 Wed, 24 Dec 2008 01:20:39 +0000 PaulProviding the finance products are separate products and not "under the one umbrella" as one facility, I don't see a problem – from a Tax Office perspective. If they are one facility, the Tax Office would apply Part IVA of the Tax Act which basically says that what you have set up is a sham and they remove the tax benefit and charge interest…[Read more]

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