PropertyInvesting.com | elkam | Activity https://www.propertyinvesting.com/members/elkam/activity/ Activity feed for elkam. Sat, 11 Apr 2026 16:38:16 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 83c3b00ea99c58754b9e91daff61af0c elkam replied to the topic Rent out PPOR and move into rental property? in the forum Help Needed! https://www.propertyinvesting.com/topic/4396538-rent-out-ppor-and-move-into-rental-property/#post-4605549 Tue, 23 Jun 2009 15:50:30 +0000 Hello MelThe best way to answer your question for yourself is to do the maths.Firstly find out what you could rent your unit out for. Then you can either work out the outgoings ( council rates, water, house insurance, landlords insurance and expected maintenance costs)  or just use 20% of the rent as an estimate.Rental income – expenses – inte…[Read more]

]]> e992948c4ab7d6d4a9d2b47d22847627 elkam replied to the topic Seeking Vendor Finance - Vic in the forum Help Needed! https://www.propertyinvesting.com/topic/4396498-seeking-vendor-finance-vic/#post-4605356 Tue, 23 Jun 2009 11:29:44 +0000 Hello EmmaHave you been to a bank to try for a normal mortgage loan? I'm sorry for my ignorance but if what gibb01 posted is correct than you may be able to get a bank loan which will be better interest than vendor finance. Of cause you will most probably need your mother to guarantee the loan but you said in your first post that she is willing to…[Read more]

]]> b42894e8cb5d1ccc1d59c13072e5734c elkam replied to the topic FHOG - Live in the property for 6 months, then rent out? in the forum Help Needed! https://www.propertyinvesting.com/topic/4396226-fhog-live-in-the-property-for-6-months-then-rent-out/#post-4603983 Fri, 15 May 2009 09:32:01 +0000 Hello MrleumyI think there are several problems with this idea not the least being that when you transfer the property into the trust you will have to pay stamp duty again, which is an expensive exercise. Some other problems are:-If the property is negatively geared the losses will be trapped in the trust.You lose the advantage of the 6 year rule…[Read more]

]]> 922abe555f35ae9978ec32bc9af24711 elkam replied to the topic storage capitals gain average? in the forum Commercial Property https://www.propertyinvesting.com/topic/4396003-storage-capitals-gain-average/#post-4602453 Thu, 14 May 2009 09:10:09 +0000 If the property was bought in 1981 then it's pre capital gains tax. If it was mine, I wouldn't sell it unless I had a pressing reason.CheersElka

]]> b6bb7bad0ecafa1303a8b50eb5325a97 elkam replied to the topic Capital Gains Tax & Deductions for Land in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4395064-capital-gains-tax-deductions-for-land/#post-4597443 Tue, 12 May 2009 09:47:46 +0000 Thank you Terry. I wasn't aware of that. I thought you actually had to have income.Good to knowIf it's easy for you to find the case that would be great.CheersElka

]]> da0fb7b42ed48c67497d5b6ef25adea7 elkam replied to the topic Capital Gains Tax & Deductions for Land in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4395064-capital-gains-tax-deductions-for-land/#post-4597441 Sun, 10 May 2009 17:53:39 +0000 Hello sushiboyI think it's worth your while to go to an accountant to sort this out for you. If you only made $5K profit without taking into account all costs, interest etc. you probably have a very nice capital loss which you need the ATO to know about so that you can use it to wipe out part of a future capital gain.Sorry to disagree Terry but…[Read more]

]]> cea2e59f290a4b022709a33d70b365a6 elkam replied to the topic Foreign income and future IP aussie tax implications in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4396128-foreign-income-and-future-ip-aussie-tax-implications/#post-4603368 Tue, 05 May 2009 11:10:08 +0000 PTW wrote:
Obviously the only advice/opinion worth taking is from a qualified accountant who is familiar with this area…. which I definitely am not. HoweverIf I was to purchase a property and positive gear it, am I correct in believing that tax would only be need to be paid on the rent I get & that it would be at the top marginal rate, as my…[Read more]

]]> 24ef016109246c66f40822f9d66f8edf elkam replied to the topic 'Home prices plunge' in the forum General Property https://www.propertyinvesting.com/topic/4396151-home-prices-plunge-2/#post-4603507 Sun, 03 May 2009 14:21:24 +0000 I love it when the figures used to support huge house price falls are all for properties in the $ 2 / 3 / 4 M bracket. Even in the suburbs mentioned there are properties for more "normal" people. What has happened to those? 

]]> c9e729e47a1215db4c06792767c23799 elkam replied to the topic Placing my PPOR on rent in the forum Help Needed! https://www.propertyinvesting.com/topic/4396120-placing-my-ppor-on-rent/#post-4603343 Fri, 01 May 2009 01:25:23 +0000 Using the 6 year rule you are allowed to rent out your PPOR for up to 6 years without affecting it's CGT free status. So, if you sell after renting it out for 2/3 years and have no other property that you want to treat as your PPOR you should have no CGT to pay.  CheersElka  

]]> 62f1d79665dbd1fd456f3bf60a4913cf elkam replied to the topic Placing my PPOR on rent in the forum Help Needed! https://www.propertyinvesting.com/topic/4396120-placing-my-ppor-on-rent/#post-4603340 Thu, 30 Apr 2009 13:24:23 +0000 Hello hsingh10This may be a useful place to start reading about deductible expenses for an IP. It's the ATO site.http://www.ato.gov.au/individuals/pathway.asp?pc=001/002/002/010/005Hope this helpsElka

]]> 3b5de5ec2d85911146088617a025b9df elkam replied to the topic Vendor delay settlement. i was charged with rental?!?! in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4395875-vendor-delay-settlement-i-was-charged-with-rental/#post-4601808 Thu, 30 Apr 2009 12:31:06 +0000 Hello 93561Have I understood you correctly. During the approximately 84 days you have been able to occupy the unit ( 42 days to settlement and 3 x 14 days extensions ) you will have been able to live rent free and loan interest free for 39 days ( thanks to your good negotiation of the terms of the last extension naturally ) and you're not happy…[Read more]

]]> dad96a3d60c2580194e2a605bb6731ab elkam replied to the topic Pay off my investment property & move in...or buy first home to live in? in the forum Help Needed! https://www.propertyinvesting.com/topic/4396076-pay-off-my-investment-property-move-in-or-buy-first-home-to-live-in/#post-4603234 Fri, 24 Apr 2009 11:52:30 +0000 Totally agree with Terry on both points.My opinion is that 100% offset accounts are the best thing since sliced bread, if one is financially disciplined. In your position I would even make the new loan for your 1 bedroom apartment IO with a 100% offset account and deposit all your income into this. That way you get maximum interest savings and…[Read more]

]]> 149fb89d1a600a57f14082b43ad4b481 elkam replied to the topic Capital gains tax??? in the forum Help Needed! https://www.propertyinvesting.com/topic/4391818-capital-gains-tax-35/#post-4579560 Fri, 24 Apr 2009 11:36:42 +0000 Hello dotohActually your situation is pretty much the same as that described by KIZ in the post above except your numbers are different.BTW the two items you described as maintenance are in fact not fully tax deductible as repairs. They are both capital expenses and you will only be able to depreciate them while the place is a rental. Also when…[Read more]

]]> 01d14e8c91f9e10b3e35917895207430 elkam replied to the topic Keys to the house handed to me...Question time in the forum General Property https://www.propertyinvesting.com/topic/4396084-keys-to-the-house-handed-to-me-question-time/#post-4603253 Fri, 24 Apr 2009 10:12:10 +0000 Your parents can just leave you the property in their will; first to each other and then to you. You need to get some professional advice on this if you or your parents have a reason why this is not suitable.If it's because you want to be able to get some equity out of the house for investing, this may be possible even if they are the owners but…[Read more]

]]> fddc6fb7b9837ccfb5ed5922a388d8f6 elkam replied to the topic Keys to the house handed to me...Question time in the forum General Property https://www.propertyinvesting.com/topic/4396084-keys-to-the-house-handed-to-me-question-time/#post-4603250 Thu, 23 Apr 2009 11:12:23 +0000 Hello DanielHave you and your parents discussed this with an accountant versed in estate planning to make sure this is a good idea?To my thinking, if your parents gift you the house while alive you will have to pay at least stamp duty on the transfer which won't happen if you inherit. It depends on the state you are in but this could be +/-…[Read more]

]]> d2f82d7b5c4121a5f947335411306b6b elkam replied to the topic Pay off my investment property & move in...or buy first home to live in? in the forum Help Needed! https://www.propertyinvesting.com/topic/4396076-pay-off-my-investment-property-move-in-or-buy-first-home-to-live-in/#post-4603231 Thu, 23 Apr 2009 10:45:16 +0000 Hello theplatypusThat's a hard question to answer with the information given. We have no idea of your income; what price range you are thinking of buying a PPOR; is your IP negitively geared and by how much per month (i.e. how much it costs you out of pocket per month ); how much equity do you have in your IP; has the area that you are thinking o…[Read more]

]]> 214b8e46174aa91789862718638a9122 elkam replied to the topic Buying houses with diamonds in the forum skuz wrote: Gold or even https://www.propertyinvesting.com/topic/4395963-buying-houses-with-diamonds/#post-4602248 Wed, 15 Apr 2009 09:25:23 +0000 skuz wrote:
Gold or even silver on the other hand is straight forward. You just have to weight it and you know the value.

Hello skuzI wouldn't be too sure of that.  True story. Without going into great details the basic facts are that my girl friends husband thought he was being careful ( and clever ) when he accepted about 30,000 euros in g…[Read more]

]]> e2d3eedbf2a859587499ea96dc1e7aae elkam replied to the topic REDRAW from Investment unit loan in the forum Help Needed! https://www.propertyinvesting.com/topic/4395972-redraw-from-investment-unit-loan/#post-4602305 Mon, 13 Apr 2009 01:24:28 +0000 Hello PlantI believe that if you deposit the $30K into your investment loan and then redraw it for personal use ( own home improvements) you will lose the ability to deduct the interest on that $30K on your tax. Not a good idea. An offset account is the answer, as has already been suggested, but if your loan does not support this facility then…[Read more]

]]> 2bea633eb5963aa011d780be477dd4b6 elkam replied to the topic I dont get it! in the forum Help Needed! https://www.propertyinvesting.com/topic/4395893-i-dont-get-it/#post-4601949 Fri, 03 Apr 2009 13:35:08 +0000 Hello neilvsYou seem to forget that not all the rent is availible to service a mortgage. Generally 20% is already earmarked for expenses, excluding interest payments.Council rates, water rates, insurance, repairs, agents commission/letting expenses, vacancy periods and possibly land tax also neeed to be paid. I guess the banks realise this.CheersElka

]]> 178ad47abfa0ffd0adff9b89f3ff9ff4 elkam replied to the topic Vendor delay settlement. i was charged with rental?!?! in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4395875-vendor-delay-settlement-i-was-charged-with-rental/#post-4601797 Thu, 02 Apr 2009 10:39:41 +0000 Hello 93561Sounds very frustrating!!!. Which state are you in?I saw in your 1st post that you listed land tax. Why would you need to pay land tax?. As you intend to live in the house you are not liable for land tax. If this was an investment property for the vendor, the land tax is his problem ……..  unless you agreed to pay it in the sales c…[Read more]

]]> c8dedb448ca9af360e56396cedd01ab3 elkam replied to the topic FHB questions: buying a property with cash, and <$100k mortgage in the forum Finance https://www.propertyinvesting.com/topic/4395836-fhb-questions-buying-a-property-with-cash-and/#post-4601584 Tue, 31 Mar 2009 11:42:23 +0000 Actually, my thought was for Alex to get as big a loan as possible and negate most of it by using an offset account.However, I don't know how big a loan that can be given the short work history, and size of income though the $40K savings history may help. "I never recommend off set accounts to anyone you are far better off putting any extra mo…[Read more]

]]> 5dabfaebea06163b1d0e270d76e74b1a elkam replied to the topic retirement and tax returns in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4395852-retirement-and-tax-returns/#post-4601679 Mon, 30 Mar 2009 18:03:17 +0000 Hello Post EnterprisesIf you have investments you will need to lodge tax returns. Your investments will have income and possibly expenses so you will need to declare and claim these.Even if all your investments are shares with fully franked dividends I believe you will still have to lodge a return.If you only have super, I don't know.CheersElka 

]]> 3a2c055b809fbffc73983d88e66871d0 elkam replied to the topic FHB questions: buying a property with cash, and <$100k mortgage in the forum Finance https://www.propertyinvesting.com/topic/4395836-fhb-questions-buying-a-property-with-cash-and/#post-4601580 Mon, 30 Mar 2009 15:17:08 +0000 Hello Richard and AlanI'm a bit curious. Neither of you recommended that Alex learn about offset accounts.Is that because you fear she may be too young to be financially disciplined ?For future flexibility it seems like the way to go, specially in her situation of having a huge deposit.In 5 years time she may want a bigger house and want to keep…[Read more]

]]> 9fd972381a4a9f1b85530501c78fd199 elkam replied to the topic Professional Offices Question in the forum Commercial Property https://www.propertyinvesting.com/topic/4395557-professional-offices-question/#post-4600114 Mon, 30 Mar 2009 13:34:34 +0000 Hello RDWhy don't you find out who is managing the professional rooms in the property next door to you and go and have a chat with them. They could tell you everything you need to know including give you an opinion of whether there is demand in the area for more.Good luckElka

]]> 9b34339e9f8b94b684159c0c95f0b77e elkam replied to the topic Calculator to work out when negative geared property will turn positive? in the forum General Property https://www.propertyinvesting.com/topic/calculator-to-work-out-when-negative-geared-property-will-turn-positive/#post-4600930 Sun, 15 Mar 2009 13:39:45 +0000 henny wrote:
I just want to figure out, given that the loan amount is slowly going down (that is, we have built up redraw in the account), at what point the rent will cover the repayments  and other costs on the remaining time for the loan…at which point, we won't have to pay anything into the place, and it will pay for itself.

Hello HennyI…[Read more]

]]> 35ef9ab8f1a71f9d4c5cc0edb1c5eb92 elkam replied to the topic Suggestion needed... in the forum Help Needed! https://www.propertyinvesting.com/topic/4395406-suggestion-needed/#post-4599234 Sat, 14 Feb 2009 16:03:13 +0000 Hello G-O-MAre you planning to move permanently to the new state?If this is only a temporary move then ducksters suggestion of renting there yourself and buying an IP in the new state makes good sense. The interest on the new loan is fully tax deductible and as he has already pointed out, your current PPOR remains CGT free for up to 6 years this…[Read more]

]]> 0e4243c022159bcd9c93beb5950d9cc9 elkam replied to the topic Rental fees query in the forum Help Needed! https://www.propertyinvesting.com/topic/4395363-rental-fees-query/#post-4599079 Mon, 09 Feb 2009 10:59:03 +0000 Linar wrote:
Yes that does sound excessive.  The GST should be 10% of the management fees plus statement fees, that is, $2.96.  You have been charged 10% of the management fees plus statement fees PLUS rent.  Your PM is incorrect.CheersK

Assuming it's a residential property and not a commercial one.CheersElka

]]> 6f88b48a376aaab6ac30e922ae494056 elkam replied to the topic HOME VS INVESTMENT @ 26 years of age!!! in the forum Help Needed! https://www.propertyinvesting.com/topic/4395237-home-vs-investment-26-years-of-age/#post-4598357 Mon, 26 Jan 2009 13:38:49 +0000 Hello wealthyjvdMaybe reading the following thread will help explain.https://www.propertyinvesting.com/forums/getting-technical/finance/4325393?#comment-177325CheersElka

]]> b352128287e161575dd1c9913de1493c elkam replied to the topic Leasing out IP privately in the forum Hello Roy I don't know which https://www.propertyinvesting.com/topic/4395180-leasing-out-ip-privately/#post-4597956 Mon, 19 Jan 2009 11:40:00 +0000 Hello RoyI don't know which state you are in. If in Victoria here is some useful reading. http://www.consumer.vic.gov.au/CA256EB5000644CE/page/Renting-Landlords?OpenDocument&1=910-Renting~&2=20-Landlords~&3=~  CheersElka 

]]> a03e55b4ece5d165ce13439fbb90a15f elkam replied to the topic Transferring property to mum in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4395146-transferring-property-to-mum/#post-4597818 Sat, 17 Jan 2009 16:03:16 +0000 Don't forget that if you transfer the house into your mothers name at some stage, assuming that she is not living in it with you, then any capital gain from that point on will not be tax free.Is there a special reason why your mother wants the title solely in her name instead of only the percentage that she is financing ?. CheersElka

]]> e83c381a74cfb5576ab1ee2fb3ee236a elkam replied to the topic whats the best net return you have got from a property recently in the forum Creative Investing https://www.propertyinvesting.com/topic/4394831-whats-the-best-net-return-you-have-got-from-a-property-recently/#post-4596143 Wed, 17 Dec 2008 09:20:46 +0000 That will do it.  Thank you Richard. Elka

]]> cdfafdb7bb033cb4347b4ebe4060157a elkam replied to the topic Need help - new landloard in the forum Help Needed! https://www.propertyinvesting.com/topic/4394932-need-help-new-landloard/#post-4596670 Tue, 16 Dec 2008 08:58:05 +0000 robyn 2009 wrote:
Hi everyone, thanks for your feedback.  I forgot to mention that my landlord insurance DOES NOT cover for carpet –  ok lesson learned.  Given the damage and risk of patching in a high use area, I will ask for the room to be replaced.  The tenant wants quality accommodation and in return for their loyalty I have agreed to redu…[Read more]

]]> 5b3eb08c5c0fa67aee4e3e82b43e51a2 elkam replied to the topic whats the best net return you have got from a property recently in the forum Creative Investing https://www.propertyinvesting.com/topic/4394831-whats-the-best-net-return-you-have-got-from-a-property-recently/#post-4596141 Mon, 15 Dec 2008 14:25:18 +0000 Hello RichardWould you please mind explaining how one organises it to only have to pay 10% CGT.Great result BTWCheersElka

]]> eb08ecc136e9d5b6dd879679032b840d elkam replied to the topic who pays water bill in rented house? in the forum Help Needed! https://www.propertyinvesting.com/topic/4394926-who-pays-water-bill-in-rented-house-3/#post-4596642 Mon, 15 Dec 2008 13:47:48 +0000 Have you advised the water authority that it's a rented premise and the name of the tenants?Not sure about NSW, though Scotts post above implies that it's the same as in Victoria, but where a property is separately metered then the tenant is liable for all the water usage charge and the owner pays for the connection/sewage etc. charges. If they kn…[Read more]

]]> 7820da6748a7bedcc7b5840954e52a23 elkam replied to the topic Offset account in the forum Finance https://www.propertyinvesting.com/topic/4394919-offset-account-3/#post-4596605 Sun, 14 Dec 2008 16:19:47 +0000 Hello claireowUsing your information in the above post, the maths is not hard.Basically, assuming IO loan to make life easier for the calculation.$480,000 X 6.15%  = $29,520 interest per year ( $480,000 – $10,000 (in offset account))  X 6.95% = $32,665 interest per yearSeems like a no brainer if your intention is only to buy one house to live i…[Read more]

]]> 4500b9c3ae9df28a745d131cc1b8a4e7 elkam replied to the topic Transfering property to one name in the forum Help Needed! https://www.propertyinvesting.com/topic/4394910-transfering-property-to-one-name/#post-4596577 Sun, 14 Dec 2008 15:45:42 +0000 At this point there should be no CGT to pay on the sale of 50% of what used to be your PPOR, however stamp duty probably is. How much is that in the state you live in.   Also, as Dan42 pointed out what you gain now you may pay for later. In other words, putting the house into your name now so as to get more tax deductible debt will mean that, sh…[Read more]

]]> 59f3ffb1118c7cf5c0a70058641b2029 elkam replied to the topic The better of two evils; Negative gearing or Cross collateralization in the forum General Property https://www.propertyinvesting.com/topic/4394782-the-better-of-two-evils-negative-gearing-or-cross-collateralization/#post-4595901 Mon, 24 Nov 2008 10:55:31 +0000 Whether a property is cross collateralized or not does not effect it's being negatively or positively geared.As duckster posted, if you have a large cash deposit then the property is more likely to be positively geared. With a large deposit why would you have your loan cross collateralized. On the other hand cross collateralizing a property does…[Read more]

]]> dc726e8a42608f406a8f081775d867c0 elkam replied to the topic The better of two evils; Negative gearing or Cross collateralization in the forum General Property https://www.propertyinvesting.com/topic/4394782-the-better-of-two-evils-negative-gearing-or-cross-collateralization/#post-4595897 Mon, 24 Nov 2008 01:06:34 +0000 Nice detailed post Duckster.If you are in situation 2 ( lots of cash for a deposit ) and have a mortgage on your PPOR ( non deductible interest payments ) then the best solution is to use the cash to reduce your PPOR mortgage and then go to situation 1 solution 1. ( establish line of credit against PPOR and use this as deposit and avoid cross…[Read more]

]]> e4399120d8c47de4aa263aaafb49b503 elkam replied to the topic The better of two evils; Negative gearing or Cross collateralization in the forum General Property https://www.propertyinvesting.com/topic/4394782-the-better-of-two-evils-negative-gearing-or-cross-collateralization/#post-4595894 Sun, 23 Nov 2008 18:07:35 +0000 Hello C2Very simply Cross collateralizing is when you offer more than one property as collateral for a mortgage. This is usually done to avoid paying LMI. The banks love it but most investors don't as it's messier and can be more expensive if you want to sell one of the properties.Negative gearing is when the expenses for a property exceed it's…[Read more]

]]> 51e42ea74f184ebec5f26d87750c4725 elkam replied to the topic Reducing tax in the forum Finance https://www.propertyinvesting.com/topic/4394742-reducing-tax/#post-4595704 Tue, 18 Nov 2008 10:39:41 +0000 Personally I would start with going to an accountant knowledgeable in investing and retirement planning rather than just a financial planner. Most financial planners ( including the one I went to ) will just get you into managed funds which may be good soon but is not the only asset class to consider. Most will not consider direct property.I don't…[Read more]

]]> cd5ae00bd9efb4749b30cc88d9432cab elkam replied to the topic Reducing tax in the forum Finance https://www.propertyinvesting.com/topic/4394742-reducing-tax/#post-4595702 Mon, 17 Nov 2008 13:50:28 +0000 Hello folino54In the next few years ( until 2012?? ) at your age you are able to make a tax deductible contribution of up to $100K each to super. This means that you can wipe out most/all of any CGT you would need to pay on the sale of any of these IP's.Putting these funds into super (maybe SMSF ?) will earn you income which attracts a very nice…[Read more]

]]> 4d0f13c0130d2c122e7e79c99dc1bbd1 elkam replied to the topic Mortgage repayments as a business expense in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4394546-mortgage-repayments-as-a-business-expense/#post-4594742 Wed, 22 Oct 2008 12:05:08 +0000 Hello Joseph12Yes you can but there will be CGT ramifications when you sell. You have to work out whether it's worth it in the long run.http://www.ato.gov.au/individuals/content.asp?doc=/content/36910.htm&pc=001/002/026/017/005&mnu=5060&mfp=001&st=&cy=1Hope this helpsElka

]]> f290410178472a776b0afe15c590fdde elkam replied to the topic lots of cash, no property or where to start in the forum Help Needed! https://www.propertyinvesting.com/topic/4394545-lots-of-cash-no-property-or-where-to-start/#post-4594735 Wed, 22 Oct 2008 11:45:44 +0000 Hello kjun01In your position, specially if you qualify for the FHOG ( which is a nice 14K this year) , I would buy a property which I would first live in and then rent out after 6/12 months (depending on the state you live in). So even though you will be living in it initially buy it with the criteria you would use to buy an investment property.…[Read more]

]]> 82f042615fc03cb68fc53d73edb20b7b elkam replied to the topic Units?? in the forum Help Needed! https://www.propertyinvesting.com/topic/4394499-units-2/#post-4594473 Sat, 18 Oct 2008 15:55:11 +0000 Hello DraconisVMy understanding is that if you first rent out your place and then make it your PPOR, when you rent it out again you will not be able to use the 6 year rule re CGT. Please check this with a good accountant but if I'm right it would be better for you to live in the unit for the first 6 months ( 12 months in some states ? ) and th…[Read more]

]]> 24313dfe9e81a8bd97e5f4a46c5e366e elkam replied to the topic Anz Bank reduce standard variable rate by 25 Bhps in the forum Finance https://www.propertyinvesting.com/topic/4394488-anz-bank-reduce-standard-variable-rate-by-25-bhps/#post-4594433 Fri, 17 Oct 2008 12:39:59 +0000 Hello RichardYou must have a crystal ball somewhere.I don't know which thread it was on but I remember reading that you predicted that the banks will do away with the rates discount for larger loans on the pro packages.Just got advised that ANZ will not be offering the 0.7% discount for new lo doc loans with the pro package.I guess that's just…[Read more]

]]> 0b1d67a7f04128f893236f1c8a2a4629 elkam replied to the topic Investment property with CGT over 10 years...confused. in the forum Help Needed! https://www.propertyinvesting.com/topic/4394432-investment-property-with-cgt-over-10-years-confused/#post-4594101 Mon, 13 Oct 2008 11:03:58 +0000 Hello dublin_101In your calculations I think you may have forgotten to use the 50% discount to CGT because you've held the property for longer than 12 months. CheersElka      

]]> 390fc96e3d88b19b6b82d78f21d5f374 elkam replied to the topic Carrying over negative gearing in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4394402-carrying-over-negative-gearing/#post-4593973 Fri, 10 Oct 2008 09:47:02 +0000 I wondered whether the situation had changed in the OZ tax world. Many  years ago I accepted a 2 year contract to work overseas and while I thought I would come back after that time more contracts followed , life happened and I haven't been an Oz resident  since.  When I left Australia I organised my affairs so that I would be a non resident for…[Read more]

]]> 841564348bc76c7369a2fec2af5c59f3 elkam replied to the topic Carrying over negative gearing in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4394402-carrying-over-negative-gearing/#post-4593970 Thu, 09 Oct 2008 12:53:48 +0000 Hello eddiecI tried to find the sections you mentioned on the ATO site but got totally lost. :-(Because of this I don't know if the situation changes for jc1979 if he is deemed to be a non resident for tax purposes. Does he still have to declare the income he earns in his country of residence (UK)  to offset against his Australian losses?Just out of…[Read more]

]]> f4291a46001b3f51b3df66101280aa87 elkam replied to the topic disapointed in the forum Creative Investing https://www.propertyinvesting.com/topic/4394365-disapointed/#post-4593593 Sat, 04 Oct 2008 00:24:05 +0000 I take my hat off to you kev008. Working 2 jobs and renovating while living in the place with 2 very young children shows motivation and drive.I don't know what suburb you're in but a $10 pw difference between an old unit and a renovated one with a gardener included seems too small a difference to me. You may like to get a couple of agents in for…[Read more]

]]> 484612f2c42b335e02b5c2258e4a1402 elkam replied to the topic tax on rental property income when living overseas in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4394336-tax-on-rental-property-income-when-living-overseas/#post-4593401 Fri, 03 Oct 2008 14:27:59 +0000 Hello jpn251177As Terry said, this is a complex area because it is not only dependent on Australian tax law but also on the tax law of the country you will be living in and whether the two countries have a double tax agreement. Being England I would be very surprised if there wasn't such an agreement.  However, Terrys' answer as to what your o…[Read more]

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