Hi Karl and Rita,

If the valuation has been done by one of your lenders valuers then it will enable you to access the equity at the levels discussed – be aware that if the valuer isn’t on your lenders panel, and the valuation hasn’t identified the property as being suitable security for your lender then it isn’t usually worth the paper it is…[Read more]

Hi Scott,

Nah it could never happen – methinks you’ve written a piece of fiction.[biggrin]

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never stopping. PM welcome.

Greed,

All I can say is – I hope you apply a more rigorous and comprehensive research program and process when researching property deals than you did coming up with that little ‘public servant piece’

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never stopping. PM welcome.

Hi all,

In some respects this thread is becoming a pointless exercise and threatens to be an anti-jenman and nothing more.

To be a little more productive and dare I say it balanced – G7 really needs to tell us who his family friend is.

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never stopping. PM welcome.

Hi Stuart,

Thank you for your input – I noticed on rereading an earlier post you said “I don’t think there will be any issues” which indicates the ‘arrangement’ is yet to be tested by an ATO challenge, definitive ruling or even a private ruling approving such an ‘arrangement.’

Derek
derekjones1@bigpond.com

Property Investment Support…[Read more]

Hi Stuart,

My comments were about the ‘legality’ of the different loan rates as discussed in Ez-Rents initial comments.

By default they probably also applied to your ‘deal’ – and as you are an accountant – I hear what you are saying.

As a specific question would (in your opinion) Ez-Rents ‘offer’ fall outside part 4A of the tax act?

I picked…[Read more]

Hi Scott,

Stamp duty details

http://www.realestate.com.au/cgi-bin/rsearch?a=loan&t=res

Unfortunately these are the ‘old’ rates so there will still need to be further reserach undertaken.

What’s a QS talking about SD and Land Tax for?

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never stopping. PM welcome.

Hi all,

It seems we all jumped on the final challenge at about the same time[biggrin]

PS apologies to Mel who picked up the 32 degrees etc

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never stopping. PM welcome.

Hi Mydral,

5 – 66 B of the B
13 – 32 is the T in D F at which W F

5 – 66 Books of the Bible (See Simon’s Post)
13 – 32 is the temperature in degrees farenheit (remember that) at which water freezes.

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never stopping. PM welcome.

Hi Scott,

I might add that most of your posts (you told me off once for recommending Deppro ahead of your firm [biggrin] – and I won’t forget) have been all about information first and foremost.

I, for one, have no problem with a little ‘contact me message’ as a signature – such advertising to be…[Read more]

Hi Marisa,

Do you have a target increase in mind?

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never stopping. PM welcome.

Hi all,

Not an accountant.

I would contend a purchasing trip would not be deductible but would be classified as a capital expense.

I would also argue that if you did have property O/S some travel may be deductible based on Australian Tax rules – but what about the country in which the income is earned.

There are (as I understand it) issues to…[Read more]

Hi Ezrent,

Me wonders about the legaility of this from a taxation department perspective.

As I understand it deductibility of costs fully applies when a property is leased at a market rate. I assume therefore that a similar line of thinking would apply to interest claims and the question of market rates or not.

I have a feeling that the ATO…[Read more]

Hi STeve,

It seems as if this question may have slipped below the radar.

I suggest you tell us a little about the type of property you are after, whether or not you are a growth or income investor and so on so that any responses you get are more likely to be meaningful to you.

Derek
derekjones1@bigpond.com

Property Investment Support…[Read more]

Originally posted by HT-007:

Quote:

Yep, I am getting wireless at home (I use a laptop) so I can join in the forum when I am in the lounge in front of TV, study, bedroom, back yard, court yard, and even in the toilet! [puke]

Provided there are no sh… messages or p… jokes we should survive.

Derek
derekjones1@bigpond.com

Property…[Read more]

Hi Kay,

I skimmed API last night and noticed most (all?) of the statistics provided related to rental rates. I vaguely remember there were periods in API’s past when they alternated sales and rental stats – I contend this month’s focus was ‘rental’

As an aside monthly real estate figures typically don’t move a lot anyway so are they worth…[Read more]

Originally posted by Scremin:
Derek, as much as I use the multiple intelligences theory from gardner and blooms taxonomy for questions, I don’t think it is really that relevant to studying.

As much as i value that theory, I really can’t see it helping someone study.
Steph.

Success is 1% inspiration and 99% perspiration.

Hi Steph,

Not at all -…[Read more]

Hi Marisa,

Convert that ‘holiday home’ to a full time IP.

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never stopping. PM welcome.

Hi Siacci,

The ATO has moved towards an apportioning process when determining CGT liabilities on a residence that was an IP and PPOR during its period of ownership.

See below from the ATO’s CGT booklet.

“Main residence for only part of the period you owned it

If a CGT event happens in relation to a dwelling you acquired on or after 20…[Read more]

Hi Ray,

“we have an existing line of credit of around $25000, of which we have used around $12000. As our PPOR was last valued at around $150000 i take it that we have un-tapped equity of $95000 (150000×80%- 25000) plus $13000 available on line of credit. Let me know if i’ve got it wrong!!

Yep 80% of $150K less anything you have spent gves you a…[Read more]