Originally posted by geo:

They are not able to help me with my final question as they have no idea of the NZ Tax laws and deal only for Aussie investors. They can tell you everything about Aussie Trusts but cannot give advice on NZ Trusts.

Hi George,

This comment seems to have been largely overlooked in the subsequent discussion. It clearly…[Read more]

Hi Kay,

Love those policy fineprints – make sure you tell us everything of relevance and when you do – sorry too big a risk.

Derek
derekjones1@bigpond.com

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

Hi Teach,

If the valuation is required for finance the valuer will need to be on the banks commercial panel and not just their residential panel.

If the valuation is to be used to help you determine a buying price I would still use a bank valuer – otherwise you may find a discrepancy exist between the different valuers with potential to cause…[Read more]

Hi Henry,

I would strongly suggest you establish yourself with a property within Australia first.

Owning property is not necessarily as simple as falling out of bed – there are a number of issues all along the journey – as such I think you are better learning these ropes in Australia.

Overseas investments add other variations relating to…[Read more]

Originally posted by CARS_SW1012:

Also to add confusion to the matter, We had a property in Canberra for 18 months and sold late last year, would it be possible to claim any depreciation on that one at all??

Hi Cars,

You legally eligible to review your last foour tax returns and as you were eligible to make a depreciation claim – but didn’t,…[Read more]

Hi Calvin,

Accountant – Try Patrick Thatcher – Subiaco 9380 9533 http://www.rmgaccounting.com.au

Derek
derekjones1@bigpond.com

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

Hi Kay,

I prefer to use http://www.quartile.com.au – they also have a similar service – and they said that my property was worth 35% more than the Commonwealth Bank. [biggrin]

Quartile’s website has the ability for you to enter current value and merges this detail with sales analysis in the area.

Derek
derekjones1@bigpond.com

Property Investment…[Read more]

Hi Onmyway,

Ultimately there are too many unknowns in your original post to make sound comment.

You really need to consider where this property fits into ‘onmyways’ bigger picture, your financial situation, what it is doing for your long term security, how it is accelerating or slowing your future, what you would do with the ‘gains’ you have…[Read more]

Hi Realdeal,

If you allow around 5%-6% of the purchase price that is generally sufficient to cover all purchasing and loan establishment costs incurred when purchasing a property.

Derek
derekjones1@bigpond.com

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

Hi Globetrot,

Property is not a get rich quick process and based on the numbers provided you have achieved gains of just over 17% in around 8 months.

You have also indicated that the property is in an area with good growth prospects and as such the potential compounding growth is likely to continue.

Which takes us back to your original question…[Read more]

Hi Melbear,

Geez – and I suppose they still tried to bill you.

Between your story and Geo’s it does clearly demonstrate paying experts is an investment too – you just have to be reasonably knowledgeable yourself to detect the BS.

Derek
derekjones1@bigpond.com

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

Hi Globetrot,

Selling within 12 momths will make you liable for 100% CGT and as such any sale should only be considered after 12 months + 1 day have elapsed.

Have you maximised your cashflow?
Completed a section 15.15 claim (if appropriate) to reduce your pay period tax?
Had a QS report done to maximse your legal deductions?
Is your property at…[Read more]

Hi Highflier,

This is a method that some people are aiming for in their ‘retirement’ – whether it suits everyone well that is a different matter. I am regularly in touch with someone who is currently doing this with success and no problems.

My initial aim is to acquire a portfolio of properties with a low debt/asset ratio so that I will have a…[Read more]

Hi Getahead,

Responsibility for insuring the property after the initial contracts have been signed varies from state to state. In New South Wales, Victoria, Western Australia, South Australia and Tasmania the onus is on the seller to insure the property until settlement. In Queensland and the Australian Capital Territory the buyer is responsible…[Read more]

Hi Sonja,

I must confess I know nothing about Warren (or his package) but based on Jamie’s comments it would appear as if he is based O/S – and as such some of his strategies may need adjustment due to different finance and/or taxation laws between here and there (wherever there is?)

Before rushing off I would recommend you seek professional…[Read more]

Hi Bid,

Income is declared and costs claimed in proportion to your ownership ratios.

In the example given above 99% of the income is declared on your return and 99% of the costs are calimed by you.

Derek
derekjones1@bigpond.com

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

Hi Devil,

Some interesting suburbs in that lot.

Comparing Sydney and Perth is not terribly valid – sure entry level prices are more affordable in Perth than they are in Sydney.

But on a question of growth Sydney wins hands down – 20 year average (83-02) around 7.9% compared to Perth 5.1%. That, almost 3%, makes a considerable difference.

Or…[Read more]

Hi Pursefattener,

I certainly would make the phone calls and talk to the experts on the ground over in NZ and identify who you want to contract.

Talk to them about the property and they should be able to give you an indication of whether or not it will be getting a report done. As laws differ between Aus & NZ it would also be useful to refer the…[Read more]

Hi Devil,

Once you go over 80% you are generally at the mercy of the mortgage insurers – and as you have found out there are times when they do say ‘no’ even if the bank said yes – after all they carry the risk.

Based on your description and your other post I would suggest it is the property you purchased that caused the…[Read more]

Hi Kay,

Reserve Bank board meets on the first Tuesday of the month and any announcements of changes are made on Wednesday usually without much in the way of comment.

This week is a little unusual as the board will also give a March quarter report which by default and because of timing may give a more definitive indication of interest rate…[Read more]