Renée, the only effect it will have on tax is that, by paying off principal (or having the same amount in the offset account) you will be reducing the amount of interest you pay in that financial year, eg if you pay an extra $1000 into the loan, you will save $70 interest at 7% over the year. This interest would have been tax deductable though,…[Read more]

see…..this is what happens when a man thinks he is right

CHAOS!! [][][]

~ Heaven doesnt want me and Hell is afraid I will take over! ~ :þ

and again

~ Heaven doesnt want me and Hell is afraid I will take over! ~ :þ

BOUNCING!! NOT DRIBBLING!!

sheeeesh…..if my b00bs dribbled Id be worried!!
LMAO!!

Cam….I bet one of you NEVER forgets tho!! hahaha

~ Heaven doesnt want me and Hell is afraid I will take over ~ :þ

arty

you want me to prove……that I am a woman

OK..well I have never been asked THAT before!! Usually the “bouncing” gives it away…
[}][][]

Hi Kelly.

I had a chat to the ATO about this topic

I know you know which this is, but I’d like to clarify for other readers:

The topic is:

Using unit trusts to borrow money personally to purchase units from the trust so it can buy your own home so you can rent it back and claim the interest on the money borrowed as a tax deduction.

The topic…[Read more]

I dont know….you keep telling ya wife that YOU were right and SHE was wrong….I cant see you doing anything else BUT sleeping!! hahahaha

Women are NEVER wrong…I am a woman…I know these things! [}][}][}]

Hi David. I can’t explain James strategy, you’ll have to ask him, but when you said:

Seem to me all James is interested in is, paying extra tax!!

I don’t think this is correct. You are right that James will pay extra tax, especially at set up, but I don’t think it is his only “interest” to pay more tax.

I understand that with the scenario he…[Read more]

You know what one of my pet hates is Crashy? It’s when people say that dividends are so much better because they come with franking credits. Could you imagine going to a prospective employer who tells you “I’m going to pay you $60,000 net wage, ie we’ve already taken the tax out, so that makes our wage so much better” Duh! what’s the first thing…[Read more]

It’s my FAVOURITE question. Thanks for asking it.

Shares do not have a vacancy factor. Try liquidating just 745 bricks in your house. What is a better way of owning part of a progressive company without having to buy it outright? Try buying and selling the same property 4 times in one day with a profit at the end. Ever seen a Daytrader not…[Read more]

Hi Pinky,

Try Stephen Hawking’s “A brief History of Time”. Then come back to 0-130. It will be a much easier read then.

Hang in there kiddo, keep asking questions as everyone will benefit.

Regards, Phil

Hi There

I have just had two valuations done with westpac, they called me two days later and gave me the valuation figures. Had a val done 2 months ago with CBA through a different valuer, their figures were a considerable amount higher, I am also in a high capitol gain area, Figure that one out.

Hi all
Was lucky enough to see steve today at borders bookshop, couldnt beleive how much of a positive down to earth guy he really is. Also looking at some +cf ip’s in coonabarabran anyone got any thoughts obout this location
Thanx
Dan

hey hungry thanx for that…Ill try it.

Amit, Im sure Ill get it….eventually! LOL
As for my naked army…what can I say? Too many servants and not enough time! hahahaha []

~ Heaven doesnt want me and Hell is afraid I will take over ~ :þ

Sue, It’s a state tax, which is imposed if your total landholdings, excluding your home, has an official valuation greater than a certain threshold. Info is available in the Vic website at:
http://www.sro.vic.gov.au/sro/srowebsite.nsf/taxes_landtax.htm?OpenPage&charset=iso-8859-1
Jim

Quote:
Hi

Thank you so much for your reply. []

I just wonder if you ever have any trouble to rent it, my house is in transit hill, it’s supposed to be good area, isn’t it?

What about Lake Cathie, I was going to buy a house with some ocean view, i didn’t end up getting it with the worry of vacancy.

Please, can you provide:

Monthly repayments for each, P&I components.
Other costs apart from council rates for each.
Annual income, not including rent.

Also, what investment vehicle do you prefer:
Direct equities
Direct property
Cash
Other – please specify (eg gold, bonds, etc)
Managed funds (indirect investing in one or several of the…[Read more]

At steves place….sounds like a good idea!!! I will leave it up to YOU to suggest it to him! LOL

Ill bring the potato salad…whos bringing the Lobster and champagne? [][]

Hi Caddy, I believe it’s all states except NT. You can check out all the thresholds and rates at each state revenue office, as listed in the ATO website at:
http://www.ato.gov.au/individuals/content.asp?doc=/content/33834.htm&pc=001/003/031/002&mnu=1162&mfp=001/002&st=&cy=1

Make sure that you have let them know that your PPoR is your PPoR, as…[Read more]

LOL @ arty……Im gathering you are one of the few men that dont need toilet or beer breaks! hahahahahaha [][}]