PropertyInvesting.com | ChinaPower | Activity

ChinaPower replied to the topic How to move forward... in the forum Finance

Wed, 21 Sep 2005 13:17:39 +0000

and i beleive ATO is tracking down on low-doc applicants for more audits.

ChinaPower replied to the topic CGT decreasing with age??? in the forum No Subject

Wed, 21 Sep 2005 13:11:07 +0000

actually you can choose from the two methods for whichever is more favorable:

the indexing one (with CPIs) – however note index frozen at certain year (cant remember which year, ask an accountant to do the cals)

or the 50% discount method.

It is hard to say which way is better without a calc.

ChinaPower replied to the topic WIFE OR HUSBANDS NAME? in the forum Legal & Accounting

Fri, 09 Sep 2005 15:40:53 +0000

You probably wont see this post..

but which state is your friend in? In some states, such as NSW, transfer title between spouses is stamp duty free.

ChinaPower replied to the topic Can I claim stamp duty / loan establishment costs in the forum No Subject

Fri, 09 Sep 2005 15:01:33 +0000

Non deductible
will be add to the cost base of your property and used to calculate your capital gain once you sell the property.

ChinaPower replied to the topic Buyers Ajent in the forum Legal & Accounting

Fri, 09 Sep 2005 14:43:19 +0000

If you are in the business of buying and selling properties, you might be able to treat properties as trading stock, and hence capital gain tax is ignored, as a result, the buyer agent fee, together with other non-deductible fees such as conveyance, stamp duty etc will be deductible.

That’s my understanding, however you probably need an…[Read more]