If you occupy it within the first year and stay in it for 6 months minimum then you are entitled.

You will have a CGT liability for the period it was a rental property unless you occupy it after you buy it.

Cheers,

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

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

What are your goals?

What do you thin the market holds for the future?

I feel you need to decide whether you wish to sit tight for a while or continue to buy. Some more thought as to what you wish to achieve should reveal the correct answer.

Cheers,

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

Comments may not be…[Read more]

Originally posted by Don and Liz:
Sounds good Simon. Have you ever had any problems with the administration of this or have you found that the utility cost stay reasonably stable over time. ie are not that big an issue.
.
regards

Hasn’t been an issue to date.

Cheers,

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228…[Read more]

I have a clause in our agreement that if the usage is higher tha the previous year they pay the difference. others have a set figure per bill.

I think it wise to ban fan heaters so we bought the more efficient oil filled radiators for each room. Studnets always love those $20 fan heaters and they use an awful lot of power plus are…[Read more]

Depends a lot on the client. I suggest you see a broker.

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.

The lower the limit the better. No credit card is best as far as a loan app goes.

Loans are processed by numbers now. In the old days a good credit card behaviour might sway the local manager assessing your ap but now it is done in a factory and numbers are all that matters.

Cheers,

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425…[Read more]

I would unreservedly recommend

http://www.hunterhousehunters.com.au

Having had business dealings with them on several ocassions. They are good people.

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…[Read more]

You don’t put up rent because interest rates rise.

Supply and Demand determine rent.

A canny landlord should already be renting at close to the max the market can bear. Just because your costs rise doesn’t mean it automatically gets passed on to the tenant.

Do your research and find out what is available, what the demand is and comparable…[Read more]

Just spam from the US.

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 have 5 happily sharing one bathroom with a seperate toilet. 3 girls and 2 guys.

There are no council difficulties in my area.

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…[Read more]

Jo,

The purpose of the exercise is to simply transfer deductible interest payments to the IP where it is more effective.

And thence the non decutible interest payments will be against the new PPOR.

It is a costly exercise and I would counsel you to run your figures to see if it is cost effective.

Cheers,

Simon Macks
Finance…[Read more]

Of course anyone can do this.

The issue is that the ATO do not allow the tax deduction of interest upon the interest accrued.

You need to speak to an accountant or seek a private ruling on this if your friends convince you that it is still a viable strategy – I would suggest they get one too.

All the best,

Simon Macks
Finance…[Read more]

Yes mate

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.

Candy,

Speak to your solicitor ASAP.

I would suggest you get a quote for repair and have your solicitor put it to the vendor to reduce the asking price by that amount.

This will probably start off some negotiations and hopefully you will get to a place where you are happy to proceed.

Of course this only works if you have the appropriate…[Read more]

Originally posted by Monopoly:
Yes Simon,

It is what I am saying. That is, a “sold” sign will not be posted across the advertising board until the initial (sale price) deposit has been paid over to the selling agent.

Cheers,

Jo

Perhaps there are differences between states. Is it sold whilst the clauses are still in force? ie contract is…[Read more]

with the FHOG , mortgagehunter, you said you must live in it for the first 6 monnths,

NO

I said you must live in it for 6 months starting sometime within the first 12 months.

This seems a hard concept to grasp…….maybe I explain it poorly?

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

Comments may not be relevant to…[Read more]

How long is the current lease?

As already suggested will the lease be able to be renewed easily?

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.

You should be able to write off the old fittings and then claim depreciation on the new.

You should speak to a QS.

Email me if you would like a referral to the one I use.

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,…[Read more]

I think you will find hat the property isn’t sold until the contract becomes unconditional.

This is what Jo was saying I think.

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]

Brahms,

What are you talking about?

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.