@terryw with the 20k instant ride off, for a business is a start move to funnel through rent to owns on lease, so then you get the depreciation, reduce income for business and get the returns from those leases?
Have you thought about this?
“do something you love and you wont work a day in your life”
BB I came to a similar point I realized I needed more income to grow the portfolio I wanted in the time frame I desired.
Think more about what your willing to do and look at what you want, lifestyle, hours, study, etc.
everything in life has a cost, work out what your willing to do…[Read more]
Ok, providing it complies with the body corp bylaws and your not altering any external space you can do this, the issue is it technically is not zoned, approved as a 2bedroom so for resale you should and can list as a 1bed or 1+
but I have heard of cases of people being compensated for buying a 3b that was legally a 2 bed and study.
in regards to…[Read more]
Sorry, yes in the above case its for PPOR, which is not deductible.
and you answered the question I had as well, as I thought.
now in relation to the above
is there a work around for deductions on that IP if he uses it eventually for PPOr
for e.g. putting equity from IP into Term Deposit then parking in offset, does that mean the debt created…[Read more]
The use of funds is for an IP? an income producing asset?
So if he used those funds for another IP, then the interest is deductible?
There is no private purposes. just using equity in IP 1 to buy IP 2.
no mixing at all?
would this then work?
even if he created a new loan on the current IP, that would be deductible wouldn’t it?
its not mixing the loans, its creating a new one at the full loan amount? that way the interest is deductible?
or am I missing something.
Mate would love to hear the outcome,
I would simply weigh exactly what Ethan stated about the sale price for the land and approved plans, you could also get an agency to sell the plans before you spend anything on the build (much like a new development sale and some pre designed pictures, then sale can include extras they want)
this means no…[Read more]
Hence why your understanding of the field must be largely valuable to people planning for such as from what I understand that is your expertise?
I think that’s a great idea mate, the main point I personally find valuable from asset protection is LVR, Ownership setup and Cashflow In and building a safety net, in regards to the areas your talking…[Read more]
Seanm personally I look at the deal over the Area, anywhere you can buy under market value with strong rental demand/return and the ability to add value and equity that is what I would aim for.
obviously do DD on the area etc but the deal outweighs the area (most of the time) depending on your goals.
at your Price range there are a lot of…[Read more]
haha, so for a will avoid Assets falling into wrong hands, wouldn’t Asset protection be more worthwhile by the structures as you stated after?
Yes that one of the purposes and benefits of a Discretionary Trust that it creates another level of separation and protection.
I think you explain all of this really well, Terryw has anyone come out with…[Read more]
Yeah well once again literally been told the Wishes/will setup is as good as it gets by multiple lawyers what do you think is better?
I was of the understanding that if they deem you to be the owner they can seize, not if its simply setup in your name.
so your saying the Law has no legal way to take control of funds that were taken and…[Read more]
Yeah ok, so I guess you would be seeing that then for minimization of restructuring into personal names for some incentives as much as the other way.
Yes I am sure this happens without a doubt, hence why a will with wishes attached is what I have been told is as bulletproof as it gets.
I have heard debates if that individual breaks the law then…[Read more]
Terry I have had multiple conversation with people who have strategies that have a good reasoning in the wrong overall context (in my opinion) but they can only see what they can see.
very interesting answer, to confirm clearly the value in the FHOG/no CG on PPOR etc is the reasoning for the in name purchase? (among a few others tax etc,…[Read more]
So I operate and am heavily regulated by mainly ASIC.
It sounds like, in Georges case he is simply giving advice on property and has no body that regulates him and is just a sales rep.
to be fair some level of earnest must go on to the consumer to review if its right for them, but if you feel he acted unethical, illegal or misleading contact a…[Read more]
Terryw in relation to you,
say a new client walked in and is earning $200,000 a year and wanted to structure asset purchases over the next 10 years and already had $300,000 cash in their bank and never owned any asset in australia.
Their goals are simply to get financially ahead and are open to any path that assist this,
would you look at…[Read more]
Well firstly I would get that family member to make the claim, seek legal advice to lodge it,
so I would call a few local firms and get an idea of who they suggest it goes through, could be small claims or Lawyer up.
but really chat to some legal professionals and get real advice mate, from someone who explains things in a way you…[Read more]
Literally depending on over a hundred things, area, sit layout, design, stock builder or architect and then your own private build etc etc etc
If you really looking at it then get quotes and ideas from builders today.
also given the markets Australia wide I would say tradies are going to be hunting for new builds in the next…[Read more]
Yeah so from memory its not clear, simple point is if the compound gets into your lungs it can potentially problematic. hence why its illegal to use in construction in Australia since I think the 1980s
“Breathing in air containing asbestos fibres can lead to asbestos-related diseases, mainly cancers of the lungs and chest lining. Asbestos is only…[Read more]
Mm44, the best and easiest thing is speak to your local planning office and see if they can provide any information, I would even do this several times as you might get one person willing to explain the whole process for you.
Look there is a lot of non compliance that is going unpunished Australia wide, now this does not mean it wont bite you in…[Read more]
- Load More