Claiming the expenses of the family home as a tax deduction is the aim I believe.

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

I think the second one Redwing.

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Will incur stamp duty on the purchase. Will lose CGT exemptions as well.

Please speak to an accountant before you go into this to make sure it is the right step.

Cheers,

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial…[Read more]

http://www.ato.gov.au/individuals/keywordlist.asp?k=deductions

The ATO seems to have a lot of info.

There seems to be a lot on the web including:

http://www.cpaaustralia.com.au/cps/rde/xchg/SID-3F57FEDF-623AC39C/cpa/hs.xsl/1019_14514_ENA_HTML.htm

Just take a good look around. I think as a normal taxpayer you should expect to pay about $100 to…[Read more]

Link doesn’t seem to work.

Can’t say I have heard of them.

Unless they do something new then I would suggest that much of the info is available elsewhere cheaper.

Possibly the most value might be in the motivation – assuming you do something after learning their info. I say that as I believe most people don’t take action and that is where the…[Read more]

What I was trying to say is that the taxation structure favours those who own companies rather than PAYG people.

A company owner can use the company to buy all sorts of things which immediately are deductible (to the company) whereas an employee is limited to those things used for his employment – and the guidelines here are quite strict.

You…[Read more]

The worst case is where funds are drawn from the LOC for non investment use. You lose deductibility for a start. There are also issues with paying down the deductible debt at the same rate as the non deductible debt. This means that any mess cannot be tidied up easier.

I generally don’t recommend LOC for an IP either.

Cheers,

Simon…[Read more]

The benefits are more from having the property in the right names. Typically a negative geared property is more effective in the higher income earners name and a pos geared property vice versa.

You really should discuss this with your taxation professional.

Cheers,

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments…[Read more]

I agree. Lets not be too quick to judge people here folks. Hop off our high moral horses for a minute and try some helpful advice.

Cheers,

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should…[Read more]

Did you get the property?

Cheers,

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

I suggest you find yourself a good tax agent or accountant.

I believe that as an employee there are a fairly standard set of deductions you may be entitled too.

I think that the major taxation deductions fall to those with businesses and companies.

All the best,

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may…[Read more]

Dazzling,

I am very interested in this sort of caper. Can you provide some more details about what sort of property it was, the type of business the tenant had and what the figures on it look like today?

Thanks mate,

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances.…[Read more]

Here is a dragged out story about my first property purchase and my latest….nothing exciting but there is a small moral at the end of each.

I was living with my girlfriend (now wife) in the country city of Toowoomba Qld. Was there as an Army Officer on my first appointment. I found the place a little boring after hours and used to duck down…[Read more]

Great website Cilia – thay got to check their spelling!! I couldn’t read a word of it!

Cheers

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Originally posted by The Mortgage Adviser:
Personally, I would have told the builder to go away. No-one has the right to enter your premises whether they send you a letter or not. The landlord certainly has no right to renovate while you are leasing the place. Tell him to wait until you move out and to leave you in peace. He has no recourse if you…[Read more]

Sledge,

By all means stay and continue posting – you are very welcome.

Be aware that if someone pops up on a forum dangling a URL to an investment company on their first post it is understandable that most people will think it spam. We get a fair bit of it and it is regularly removed.

This is why the URL has been removed.

All the…[Read more]

Maybe try an ad in your local paper?

Cheers,

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Welcome to the forum mate and conragulations on having an interest in your financial future at such an early age – wish I had known something about it then!!

The FHOG is quite simple. You must live in the home for 6 months starting within the first 12 months.

As far as every night goes it isn’t worked out like that. Proof of occupancy is…[Read more]

Jack,

You want to use your parents home and lifetime savings to start up a franchise that you have no background or experience in?

They might be smarter than you think.

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial…[Read more]

Scheldon,

Generally it is from the time it was available to rent.

Your tax advisor will be able to help you with this one.

Cheers,

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult…[Read more]