PropertyInvesting.com | housegoodies | Activity

housegoodies replied to the topic Rental income into PPOR, any tax implications? in the forum Help Needed!

Mon, 25 Oct 2010 10:11:50 +0000

housegoodies replied to the topic After signed O&A but changed mind, can simply tell the RA cant obtain finance be good enough? Thanks! in the forum Help Needed!

Sat, 07 Aug 2010 10:22:12 +0000

If "Subject to purchaser receives satisfactory building and pect inspection" is not enough due to the definition of "satisfactory" not stated, how is the wording be best written?

housegoodies replied to the topic After signed O&A but changed mind, can simply tell the RA cant obtain finance be good enough? Thanks! in the forum Help Needed!

Sat, 07 Aug 2010 10:18:59 +0000

Thanks for your comments Terry. Would it be easier if we wrote in the contract as: "Subject to purchaser receives satisfactory building and pest control reports"? Does wording it like that putting us in the front seat to get out of the contracts just in case the building inspection reports came back not as good as we expected?Reason we are bit…[Read more]

housegoodies replied to the topic When loan is in my name only but the house is in joint names, does that mean I have all the negative gearing benefit? in the forum Help Needed!

Sat, 07 Aug 2010 08:09:02 +0000

thanks for all the wonderful responses, I have called the TAX Office myself given the senario of:Loan is in my name but investment property will be in joint names. Speak to a senior tax office adviser and he indicated regardless of who's name the loan is on, tax office are accessing negative gearing based on the names on the title. In my case, I…[Read more]

housegoodies replied to the topic When loan is in my name only but the house is in joint names, does that mean I have all the negative gearing benefit? in the forum Help Needed!

Thu, 22 Jul 2010 13:31:25 +0000

Thanks for sharing your thoughts on this guys, I was advised by my Mortgage Broker to set up loan in my name only but the house is in joint names. Would it be a good idea to get the answer straight from the horse's mouth? Like ringing the ATO for further clarifications? The last time I rang ATO the guy on the phone didn’t really know what he wa…[Read more]

housegoodies started the topic When loan is in my name only but the house is in joint names, does that mean I have all the negative gearing benefit? in the forum Help Needed!

Thu, 22 Jul 2010 07:34:11 +0000

Hi Guys, I have a silly question. When the loan is in my name only but the house is in joint names, does that mean I have all the negative gearing benefit? My wife doesnt work due to a problem with her back. I just got a new job paying $36000 a year on top of my income of $45000. If I put the investment loan in my name only but the IP title in j…[Read more]

housegoodies started the topic When loan is in my name only but the house is in joint names, does that mean I have all the negative gearing benefit? in the forum Help Needed!

Thu, 22 Jul 2010 07:34:11 +0000

housegoodies started the topic When loan is in my name only but the house is in joint names, does that mean I have all the negative gearing benefit? in the forum Help Needed!

Thu, 22 Jul 2010 07:34:11 +0000

housegoodies started the topic When loan is in my name only but the house is in joint names, does that mean I have all the negative gearing benefit? in the forum Help Needed!

Thu, 22 Jul 2010 07:34:11 +0000

housegoodies replied to the topic Renting to a relaitive, any rules we need to stick to in order to pass the TAX Audit time? in the forum Help Needed!

Wed, 21 Jul 2010 10:24:13 +0000

Excellent point guys. I guess what I am worried about is without landlord insurance, the Tax man will argue that you have the intension avoiding tax by not having the landlord insurnace. In regards to point number 4 and 6:4. Loss or damage to building and contents (What does loss or damage to building and contents covering exactly? Things like f…[Read more]

housegoodies replied to the topic when buying a villa few years old, do we require depreciations already claim from the previous owner? in the forum Help Needed!

Tue, 20 Jul 2010 07:56:30 +0000

Hi, that is exactly I am not sure about. Say if the the aircon, furniture, the light fitting etc etc was $5000 when new, the seller has made depreciation claim using the 10% methods, and after 2 years the value claimed is $500 + $450 = $950. Does that mean we claim on the depreciations on the remaining lot of $4050? If the owner did not bother…[Read more]

housegoodies replied to the topic Renting to a relaitive, any rules we need to stick to in order to pass the TAX Audit time? in the forum Help Needed!

Tue, 20 Jul 2010 07:28:32 +0000

Thanks guys, called a few insurance company and it appears that only half of them requires a property manager, other half is happy for you to manage it.

housegoodies replied to the topic Can anyone recommaned a good building inspecting company with structural guarantee on the report for 12 months+? And Costs? in the forum Help Needed!

Thu, 15 Jul 2010 14:48:17 +0000

I will do that that, thanks so much for your advice propertunity. I will post the response here when I get an answer.

housegoodies replied to the topic Can anyone recommaned a good building inspecting company with structural guarantee on the report for 12 months+? And Costs? in the forum Help Needed!

Wed, 14 Jul 2010 07:34:22 +0000

Thanks for your response, I am in the Perth Area, in regards to the structural guarantees come from the original builder – for the first 6 or 7 years. Does the structural guarantee transfers to the next person when the property is sold say within 1 year of construction?

housegoodies replied to the topic Anyone can recommand a good mortgage broker in Perth area? Someone you have dealt with maybe? in the forum Help Needed!

Mon, 12 Jul 2010 09:10:37 +0000

Thanks Heaps guys, will call a few of them to get things started.best regards

housegoodies replied to the topic Legal implications in Tenants in Common and the Perth IP Market in the forum Hi Tracey, just did a search

Tue, 06 Jul 2010 16:44:05 +0000

Hi Tracey, just did a search on the suburbs you have mentioned, it appears there is only a handful of choices. Got interested in the 1 bedroom apartment in Success, however if its under 50sqm, the banks wont even touch it. I will be interested to see how big is the 1 bedroom apartment of that size will be. God, where are we heading in this c…[Read more]

housegoodies replied to the topic Legal implications in Tenants in Common and the Perth IP Market in the forum Help Needed!

Tue, 06 Jul 2010 15:09:21 +0000

Thanks for the comments Tracey, the one in the Balga has an asking price of $335000 and its only 12months old without any strata levies imposed on it. Rental returns will be around 4% – 4.5% PA. The one in the Kenwick is bit older, 1998 built and it belongs to a complex with an asking price of $299000. After our initial offers are rejected we m…[Read more]

housegoodies replied to the topic Legal implications in Tenants in Common and the Perth IP Market in the forum Help Needed!

Tue, 06 Jul 2010 14:20:31 +0000

Thanks for the advice kopidude, one of the main reasons I am looking to buy at Balga and surrounding area is due to the New North Project, I have seen alot of housing been sub-divided into 3 and 4 lots which make the suburb newer than others. I have lived in Stirling (the next suburb to Nollamara) for around 2 years before and I find it is not to…[Read more]

housegoodies replied to the topic Land Tax and equity release for IP? in the forum Help Needed!

Mon, 07 Jun 2010 10:00:51 +0000

Thanks Terryw, I am actually in WA. Not sure if it is payable or not.