[SayanParticipant@sayanJoin Date: 2013Post Count: 13]

March 24, 2015 - 10:06 pm

Cheers :)

S

[SayanParticipant@sayanJoin Date: 2013Post Count: 13]

March 24, 2015 - 9:58 pm

Thank you, Dean.

So from what you said (lease is due on the 30th of June), as a landlord, I cannot give the tenants a notice on the 15th of June and expect the tenants to vacate the property by the 15th of July?

Thanks,
S

[SayanParticipant@sayanJoin Date: 2013Post Count: 13]

July 2, 2013 - 11:40 am

Thanks very much, guys!

Sayan

[SayanParticipant@sayanJoin Date: 2013Post Count: 13]

July 1, 2013 - 1:12 pm

Thanks, Tom.

According to below, would it meant that if I happened to turn the IP into PPOR after the second year, then a deduction of the balance of the borrowing expenses (over $100) can be claimed in that year?

" If your total borrowing expenses are more than $100, the deduction is spread over five years or the term of the loan, whichever is less. If the total deductible borrowing expenses are $100 or less, they are fully deductible in the income year they are incurred.

If you repay the loan early and in less than five years, you can claim a deduction for the balance of the borrowing expenses in the year of repayment."

Cheers,

Sayan.

[SayanParticipant@sayanJoin Date: 2013Post Count: 13]

July 1, 2013 - 12:05 pm

Thanks, Jamie. That was quick!

It does make sense to use the number of years the property is rented out. Also, found this:

Borrowing Expenses – deductible over the period of the loan where the loan is less than five years. Otherwise deductible over five years.

Cheers,

Sayan

[SayanParticipant@sayanJoin Date: 2013Post Count: 13]

April 3, 2013 - 11:30 am

OK. thanks, Jamie.

Sayan.

[SayanParticipant@sayanJoin Date: 2013Post Count: 13]

April 2, 2013 - 10:23 pm

Hi,

I am in a similar situation, i.e. first open for rental inspection this weekend with the property settling in two weeks.

I am thinking of going in during the inspection to have a look at the state of the house so I can arrange cleaning etc if needed before the first tenants move in.

Is it something that is OK to do or is there some legal aspect that I should be aware of?

Thanks,

Sayan.

[SayanParticipant@sayanJoin Date: 2013Post Count: 13]

March 22, 2013 - 11:55 pm

Many Thanks, Jamie.  Hopefully I can lock it in time.  

Cheers, 

Sayan

[SayanParticipant@sayanJoin Date: 2013Post Count: 13]

March 22, 2013 - 12:51 pm

True – 5.065% is still pretty good. will lock it then.

Thanks, Michael.

S.