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  • Profile photo of Bigfella966Bigfella966
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    @bigfella966
    Join Date: 2005
    Post Count: 6
    April 23, 2005 - 1:59 pm

    Thank you again Derek, I’ll keep that in mind come Tax time, BTW, don’t know any good Accountants in the Bunbury area do you? *sic*

    BF

    Folks are dumb where I come frommm… YUK, YUK !

    Profile photo of Bigfella966Bigfella966
    Participant
    @bigfella966
    Join Date: 2005
    Post Count: 6
    April 23, 2005 - 4:37 am

    Derek,
    Thankyou for your reply, thats cleared things up for me, I’ll keep the loan separate from our others for ease of tax purposes.
    I gather I won’t be able to claim the Interest paid on the deposit until the Apartments are built & settled in approx 18 months to 2 years? (therefore a proven IP Tax loss) or can I claim it as a loss starting this financial year?

    (Sorry for the beginners ignorance)

    Regards,

    BF

    Profile photo of Bigfella966Bigfella966
    Participant
    @bigfella966
    Join Date: 2005
    Post Count: 6
    April 23, 2005 - 1:05 am

    Thankyou all for your rapid responses, another one now [biggrin], it was mentioned to me (by a fellow novice in IP’s) about converting the vacant land loan to a line of credit & adding the additional funds required to it?, would there be any merit in this?
    again thanx
    BF

    Profile photo of Bigfella966Bigfella966
    Participant
    @bigfella966
    Join Date: 2005
    Post Count: 6
    January 24, 2005 - 3:38 pm

    Hello People,

    I know it’s a bit further south than Mandurah, but what are your thoughts on Bunbury and it’s potential?

    Bigfella

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