Even if your in the BUSINESS of buying and selling, can GST not be claimed on the repairs and alterations?
How does it work at tax time if you paid for a repair or alteration at $1,000 plus GST, $1,100 including GST, and lets say you made a capital gain of $50,000,
Do you cut the $50,000 to $25,000 as you have owned the property longer than 12…[Read more]
Hi Richard. Semi commercial/residential, solid investments and always occupied, I have had them financed under resi and com.
So do you think if I have 25% solid equity in the properties, that there are some banks that would finance the deal based on my original post?
Why get all worried about whats happening in another country or whats happening down the street, the only thing people should be interested in is how they are going to make another dollar and what changes they need to make to there life/business etc to keep turning the wheels.
If Japan goes down then all these negative people will…[Read more]
Had enough of my bank, everything is to slow for me and holds me up from getting further ahead, every day they take is another day I loose and when I ask for something simple which just requires the push of a button they ask me to jump through hoops, after paying them hundreds of thousands in interest I would have expected better service
tanner just because one or two people say Gold Coast is a dud it does not mean that it is, I have been investing here since 2008 and I have my ear close to the ground all day every day and currently things are changing and values are going to increase, there are some suburbs that have been booming on the Gold Coast over the past 12-15 months and…[Read more]
thankyou terry. I tried searching the margin scheme but couldn't quite find what I was looking for.
Just another thought, if I moved into the property for 6 months and then sold it in its current state as a whole piece of land , how would the capital gains tax be worked out,
A, say its worth $600,000 today and I sell in 6 months for $650,000…[Read more]
Lets say you bought 30 properties at $400,000 each and you put down 20% cash deposit on each so balance owing to the bank was $320,000 each, lets say each property was returning $500 per week $26,000 per year, you fixed the loans at say 5.3% $17,000 interest only repayments then lets say you spent $3,000 which covered insurance rates and…[Read more]
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