I think SIS will catch Guru first, unless I can catch him this weekend while SIS is on property hunting trip[]

Cheers
Mel

Yay for SIS. Matt, to be part of this elite club, you’d better get your posting gloves on. You’ve still got a loooot of catching up to do my friend. [

Cheers
Mel

Originally posted by Rugbyfan:
No actually, we found it was a better alternative to our Nanny (although she was cute[:p][:p][:p])

[]I reckon therein lies the reason[:o)]

Cheers
Mel

I do, but not for a while.

At the moment we’ve gone through the boom cycle – where properties are going up, so everybody jumps in to buy a rental.

Just yesterday I was talking to a friend whose husband bought an IP two years ago and in his words ‘It’s tooooooo slow’. Also, this paying money out of your own pocket for little growth in the next…[Read more]

Congrats to SIS – I knew with some dedicated effort you would get there!!

Cheers
Mel

Kelvin, can’t help with a calculator, other than to check out the one in Excel XP – I think it allows you to add your extra payments in monthly and works out your figures.

Personally, I like the idea of 5.99% for 5 years – as long as you don’t intend selling of course. I’ll swap you my LOC for you fixed rate?[]

Cheers
Mel

Originally posted by Monkeybam:
I dont think it is tax dedustable as a PPOR has a lower stamp duty to start with. (QLD 50% less) so you save from the start. If you manage to sell it after 12 months there is no capitial gains tax either. If you are nomadic you can turn properties over this way. One a year though but a good start

I wish that was…[Read more]

Hi fireball and welcome

Someone once suggested quite a while ago to set up a trust, have your company as trustee, and then say that the company was merely holding them ‘as trustee for’ the trust anyway – it would be in the companies name in that case.

I think the fatal flaw though is that the trust would have needed to exist BEFORE the…[Read more]

Hey Digger, my first thought was to say – ask Dale.

My thoughts are as follows:

You have borrowed money to buy units in the trust. The trust pays you a varying return on this. It uses your funds to buy some assets, while still paying you a return. It then borrows the money, and pays back your loan. I didn’t think that the units would have…[Read more]

You can also obtain Trust Magic direct – from http://www.gatherumgoss.com

I too have been told to spread out the properties into several trusts, but something in Trust Magic suggested that was unnecessary for asset protection, but as Leigh said, could work for land tax purposes.

Cheers
Mel

Sue, you might be able to ask a QS for a sample copy? In a post a while back I sat and typed in quite a few things that were contained on the one I had in front of me at the time.

Failing that, see if any of your friends have ever had one done on any of their IPs.

Cheers
Mel

Originally posted by Jas:
Set up a unit trust. The super fund invests in the unit trust. The unit trust uses its funds for desposits/percentage of the property. You borrow the rest.

Super fund hasn’t invested in assets other than the unit trust. So, its all cool.

Jas

Jas, what security are you using to borrow the other funds? This used to…[Read more]

Originally posted by Mattsa:
Thanks for you feedback TerryW and Property Guru. I had a feeling that the losses would work this way but it is good to get confirmation. Does this then mean that I could offset any accrued losses incurred against a CG that I could make if I decided to sell the property, thereby reducing the amount of CGT that is due…[Read more]

Originally posted by Elysium-M:
Yep, trusts are probably the way to go, although you won’t be able to get the 12 month CGT concession if you do so.

Hi all

It’s my understanding that the CGT exemption still exists as trusts are a ‘flow through’ entity, so everything passes down to the invidivuals. This way you can still choose who’s best to get…[Read more]

Simon, when there’s a few posts, I’ve seen a little arrow next to the ‘Quote’ button, which takes you back to the top if you click on it.

Cheers
Mel

Hi Alister

This error I reported here was before the time/date change, but it hasn’t happened to me since the first time, so hopefully it has gone away.

And Kay, you are definitely now in ‘Flood Recover’ mode[:o)]

Cheers
Mel

Cool, thanks Alister.[8D]

I hope they pay you a lot, cos you must have been working like a madman to iron out all the little bugs[}]

Cheers
Mel

Thanks guys. I can now post[].[^]

I have a looooot of catching up to do. You’ll all be pleased to know that I used my time away from the computer constructively, and sent off my tax audit – although I mixed up the dates, and it’s probably a week late[V]

Cheers
Mel

Agreed Leigh.

Hopefully the new ‘concept’ or whatever it is that the guys are coming up with will solve the problem. I believe you can then advertise your deals for a fee – and that should be a blanket for all – no special considerations/exceptions whatsoever.

Cheers
Mel

Thanks All. SIS and Sooshie are next for Platinum. Sooshie one to go, but has vanished. SIS, well it’s his aim, so possibly today.

Arty, I don’t see your picture in the pose that you have outlined. You first, me second. And then we’ll chase up guru and Terry. []

Cheers
Mel