PropertyInvesting.com | PTSMike | Activity https://www.propertyinvesting.com/members/ptsmike/activity/ Activity feed for PTSMike. Wed, 15 Apr 2026 08:07:07 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 ab0c6867ed4f60d685c30e0dd6a5cd49 PTSMike replied to the topic Seeking knowledge on structures in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5085601-seeking-knowledge-on-structures/#post-5086998 Fri, 30 Dec 2022 02:30:47 +0000 Charlie

I’ve published a book on “Things Your Accountant Never Told You About Investing in Property”.  I cover structures as part of the discussions in the book that you might find useful.

It’s free so even better

Book

]]> 6fc10b123f5c3b960513869b0e84fe84 PTSMike's profile was updated https://www.propertyinvesting.com/activity/p/406380/ Fri, 30 Dec 2022 02:10:56 +0000 cc20e9471ebb7736bfa9cf25e6ace526 PTSMike replied to the topic Melbourne - Need Good Property Accountant in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4390601-melbourne-need-good-property-accountant/page/2/#post-5047748 Sat, 18 Aug 2018 02:29:18 +0000 An old thread but a good question. What do I do when I’ve purchased assets in my own name and then enter into a business with a risk of being sued. Asset protection has become an important issue.

Of course the first point of a call is a lawyer who can give legal advice on structuring. Worth discussing with them the benefits of moving to a…[Read more]

]]> ae605143fe0608d454d82d26a80208a5 PTSMike replied to the topic PPOR and CGT in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5047745-ppor-and-cgt/#post-5047747 Sat, 18 Aug 2018 01:05:21 +0000 – consider whether you can use the six year main residence absence rule and the impact on any other property which may have been your main residence
– why won’t moving back in make a difference for CGT purposes ?
– look at third element costs to reduce the capital gain where appropriate
– did you really move into it and make it your PPOR ?

]]> 7e832b264cfb56754b3555d7c1bef173 PTSMike started the topic Main Residence/PPOR and Absence Rule TRAP FOR BUSINESS in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5047746-main-residenceppor-and-absence-rule-trap-for-business/ Sat, 18 Aug 2018 01:03:08 +0000 a trap for those who use their main residence and part of the property is used as a place of business.

Under S.118-190 you cannot apply to the business portion of the property, the temporary absence rule

this will mean that the percentage of business usage will continue to be ineligible for the up to the entire 6 year period.

a trap for the…[Read more]

]]> ca97310f4380701d583952e55ec605f1 PTSMike's profile was updated https://www.propertyinvesting.com/activity/p/372034/ Sun, 22 Apr 2018 03:36:02 +0000 07e43952cd074e4c5cfac1273e8a83a0 PTSMike changed their profile picture https://www.propertyinvesting.com/activity/p/372033/ Sun, 22 Apr 2018 03:35:32 +0000 e0090d386c8efb20412e95ee21d4f161 PTSMike replied to the topic Good taxation lawyer abt foreign income in Nsw in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4999888-good-taxation-lawyer-abt-foreign-income-in-nsw/#post-5000145 Mon, 09 Feb 2015 08:36:33 +0000 if you are an Australian tax resident you pay tax on your worldwide income whether it is remitted back to Australia or not.

]]> 7f996c7dc6417577c5a24ed0a1ae1b5f PTSMike started the topic Main Residence Absence Provisions in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4999323-main-residence-abscence-provisions/ Fri, 16 Jan 2015 01:09:52 +0000 Seems to be some confusion regarding the main residence absence provisions and how they work.

This concession is sometimes referred to as the ‘absence’ provision or the ‘six year’ rule and does not just apply to moving interstate. It applies whenever you move from your main residence. Even if it’s ‘down the road’.

Where someone makes this ch…[Read more]

]]> 6c76aadf8c6190aef81e8f71129b39d0 PTSMike replied to the topic Capital gain tax on new unit sales in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4997735-capital-gain-tax-on-new-unit-sales/#post-4998377 Mon, 12 Jan 2015 14:52:32 +0000 In both of these instances if the intention was to buy , develop and sell then it is on revenue account. CGT wont apply. So if the property was held for 2 years wouldnt matter you wouldnt get the discount. Even a profit from an isolated transaction can be on revenue account. Refer myers case. Tread carefully

]]> 884c91852712782244f6d11077a10db2 PTSMike replied to the topic Trust Gifts in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4997509-trust-gifts/#post-4998285 Sat, 10 Jan 2015 06:44:38 +0000 Also be aware of any potential capital gains tax implications of making a beneficiary entitled to a trust asset. Need to look at whether CGT Event E5 applies.

http://www.austlii.edu.au/au/legis/cth/consol_act/itaa1997240/s104.75.html

]]> 8661b386cc84f5e045586f2e83ca2b9b PTSMike replied to the topic Looking for guidance on starting up new development company/trust in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4998280-looking-for-guidance-on-starting-up-new-development-companytrust/#post-4998284 Sat, 10 Jan 2015 06:26:20 +0000 Mike

Suggest you download and have a look at the e-book put together by Terry and I. It can be accessed at http://www.propertytaxsolutions.com.au It doesn’t cover everything and developments are a complex area of tax, legal and accounting.

You need to consider things such as income tax, stamp duty, GST, estate planning and whether you want the…[Read more]

]]> 5e44b4fcf96ab168ac96aad1b7d4cad5 PTSMike's profile was updated https://www.propertyinvesting.com/activity/p/304262/ Sat, 10 Jan 2015 06:24:17 +0000 62e5751371da126c8b2f333c213e1a7b PTSMike changed their profile picture https://www.propertyinvesting.com/activity/p/304261/ Sat, 10 Jan 2015 06:22:47 +0000 2067fd6ae5c941ddad92f9e4de8aa968 PTSMike changed their profile picture https://www.propertyinvesting.com/activity/p/304260/ Sat, 10 Jan 2015 06:22:05 +0000 0ec1f88b4b46cd6053dc0ce9c14d1902 PTSMike changed their profile picture https://www.propertyinvesting.com/activity/p/304259/ Sat, 10 Jan 2015 06:21:19 +0000 b6e37b1160a536c73fbda97b0ec12738 PTSMike became a registered member https://www.propertyinvesting.com/activity/p/304257/ Sat, 10 Jan 2015 06:19:03 +0000