Hi Jon. Even with a mortgage husband and wife can do the same, but I was highlighting the issue of no cost with a transfer.

With a mortgage the husband/wife owners will need to re-finance, so there may be costs there. Also, if transferring from the higher income spouse only to the lower income spouse only you may find that the application falls…[Read more]

You can sell or transfer any asset to a trust. The ATO has no power to stop this.

I am not familiar with that case, but it is likely a tax issue hinging on income and allowable deductions, not an ownership or transfer issue.

Just taking a stab in the dark, I’d say the case you’ve quoted probably had something like:

1. The owner transferring…[Read more]

Between spouses, there is no stamp duty charge. On properties with no mortgage (that is, owners have the title), they can swap back and forth as they please. Either names or both.

Other than that, you will pay stamp duty on transfer, with or without a contract of sale.

Without one, you’d best have an independent valuation done as proof or…[Read more]

Without going into the capital gain / positive cash flow combination, I think you’ll find it is not so much the risk investors take, but what results will take you to your goals.

If $50pw average is what you need, so be it.
If you need 30 of these, that’s fine.
If you want to do this is four years and then retire, go for it.

For some, it is less…[Read more]

Most likely “c”, or any number of IPs at 75-80%LVR that were +ve. If this meant 6, or 11, or whatever number at that LVR, that would be ok.

If one of these is your own place, buy it outright and then use the equity to invest.

Michael

Hi James. Yes, you will need to pay stamp duty on the current value of your home when you transfer it. This may or may not be sustantial.

If profits are retained in trust, they will be taxed at 48.5%.

If profits are distributed to the beneficiaries, assuming you’re one of them, you will be taxed at your marginal rate.

If one of the…[Read more]

Unless you intend occupying the property for a specific period of time, you’ll have to pay CGT. And if this property does draw a CG and you do have to pay a CGT, ain’t you worried the other party won’t just say bad luck, since your the official owner you’ll have to pay this tax ?

Hi Andy,

Well I read through all the post in this topic and it sounds like a great idea. I will have to get my wife to sit down with me and we will see if we can do the same.

The only problem I see though is with capital gains out in the country towns as aposed to the gains I am already achieving in Sydney.

Matt[]

email me

stephenc@chu.com.au

I’ll talk you thought a couple of ideas.

Hi R2, as Milkman says, it’s only the net income or loss that is used to calculate tax. Because we are hopefully getting positive cash flow, then we will have to pay tax on the net postive cash flow.
The 11 second rule on your 70k property implies a rent of $140/wk, not $150. Assuming you’ve used equity in other properties to get your 75k loan,…[Read more]

quote:
House 1 (positive)
Price $50k*4 = $200k
Cash flow +$5k*4 = $20k
Capital gain 10% = 5k*4 = $20K
Net return = 20k cashflow + 20k CG = $40k

Cheers
Amit

Come on Amit/ Andrew, these figures are sooo out to lunch! You might get 10% gross rental return on a 50k property, ie 5k income, but what about 6.5% loan interest, maintenance, management…[Read more]

the cover of the book is…….*shrugs shoulders* looks a little like Sydney

BUT!!

come on ppl……perth better than melb? Surely you jest!! I will admit WA has some lovely spots…Esperance comes to mind…lovely place and I will honestly say the coppers in perth are lookers!! Wearing them tight pants and carrying handcuffs Mmmmmm…..but I…[Read more]

THANK YOU!!!!!!!!
I couldnt resist the word FREE and I LOVE presents!!

*adding steves name to my list of people who deserve xmas prsents this year* Thats makes 2 ppl now ……LOL

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

Hi Andy,

Sounds like you could realy be on your way to big things.

With the cash your house gives you, I would look at buying a block of units.
There was one for sale in Bathurst for $960,000.00. That consists of 12 2 bedroom units. The average rent was $140.00 pw, that would give you an income of $1,680.00 per week.
You could handle that…[Read more]

Hi Pinky,

You just descibed my situation (excepting that the male slaves should be replaced by nubile, energetic smiling nymphettes, grateful to be baking in the awe of my prescence !!).

The 11 second thing is the easy bit. Just divide the projected weekly rent by two. Multiply the answer by 1000, and see how close this arrives at the asking…[Read more]

Quote:
I have answered your criticism to the best of my
ability, using quotes from the tax office booklets that prove my arguments, if im still wrong then im just going on what the booklets say, but i think you hav lost your case… Where are u getting this information from anyway saying that im wrong?? so far u havn’t proven a thing……[Read more]

Im bad? Nooo!! Im innocent…ish. Ok Im a little bad…but in a good way []

Thanx….I like it here…the people are friendly and the advice is good….well thought out and positive (most of the time LOL)

Happy investing to us both

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

personally…..I find the face to face meetings work much better. Decide where you want to invest and go there…meet a few locals and then have a few drinks with the local real estate ppl. Dont let on that you may be investing..act like you are looking for a family home. (well you are if you rent to a family LOL)
Face to face meeting also allows…[Read more]

Quote:
To auspiciousdna; (again)

Isn’t having a place VACANT for 3-4 years whilst still using it as ur main residence meaning that ur living there, but unoficially??? as in “just on paper”???

And, may i ask who has knocked on your front door recently to confirm that you are there???

Its just a matter of how u read the rules and interpret…[Read more]

LOL no I am not his ex…but anyone with good fashion sense NEVER forgets a pink helicopter!!

Bottoms up! [][][]