If there is no income, then there are no deductibles – that is why I suggest turning it into an IP and rent elsewhere (at a lower price or better premises) so that you are getting a return and are able to claim all expenses.Alternatively, just get the land revalued (by a valuer) once construction is complete so that you have your initial purchase…[Read more]

If you live in your other owned premises, then this is your PPOR (ie you own it, you are living in it) – that is why you cannot find anything written to the contrary. Rent out your house, and rent elsewhere – that way you can still claim your land as your ppor & the house as an IP.By calling your land your PPOR, then you may be subjecting your…[Read more]

Run……………… (in the opposite direction). There have been many posts previously (and currently) about CFC and the additional costs (finders fee, unsustainability of rents etc).  Tread carefully. Google Spiro Kladis.

Spot on – prices don't include the commission paid to the 'finder' – if you scour the web you will find many of these properties yourself, they are taking the hard work out of it.Rents are often unsustainable – especially on the commercial sites (don't believe all you read). How can you seriously expect to achieve 20-30% more for a B Grade…[Read more]

I'd agree with the above, it will have to be capitalised. To maximise your deductions, get a quantity surveyor on board asap to discuss the works, any possible write off of existing elements and the accelarated depreciation of the new fittings and fixtures.

Research – is the median price for 1 bed units, 2 bedders or non-descript (ie all units or does it include houses)? Is the median price skewed by the sale of a large number of newly constructed units? What is the sample size?What is the state of the unit – ie in desperate need of renovation/as new condition etc? (ie how much do you need to spend…[Read more]

Hint – A vacant block of land is not a ppor. You can only reside in one PPOR at any one time (although there is some allowance for moving in/selling previous ppor)

I'd agree with the conveyancer – a pest inspection will not reveal building defects (although it may reveal the existence of active or previous termite activity).  An inspection of the minutes of the strata meetings will reveal whether there have been issues relating to structural problems, pest and other infestations. (lopetha – costs prior to t…[Read more]

A couple of quick points – inner city is most likely to be best for capital growth just watch out that you are not buying into an area with alot of redevelopment currently being planned eg ex-industrial areas near the city. You may also qualify for the first home buyers grant & stamp duty concessions (as an added bonus).Alternatively, many of the…[Read more]

Still waiting for that $300k block?

Get in with a new val before more current sales (in a depressed market) are recorded.

Don't forget, any capital gain that you make on your ppor is tax free – it is not all bad news.

To put it simply, as a PPOR, there is no deductibility for any costs whatsoever.

Provided that the funds are being used for an investment property/shares there shouldn't be an issue – you are refinancing in a very short timeframe, nothing wrong with that.

FIrst step – consult your town planning department at your council – they will tell you whether you would be permitted and what you must do to satisfy council & the WA Lands dept for subdivision.

Try contacting one of the sales reps at CSR – they should be able to tell you who is using their product and show you a number of sites which have been built,

Having a bc will force all owners to contribute toward the upkeep of the building structure & maintenance of common areas – this is generally seen as advantageous, there is no need to shy away from it. You can consider appointing your managing agent as your proxy to attend to any business relating to the property (or telecon any meeting).

Something to consider: how long have you owned the property?, how much of the equity that you claim is from paying down principal on the loan?If the equity is from repayment of the principal rather than from an increase in property values (& assuming that you don't have an interest only loan), then it may be possible to refinance for a smaller…[Read more]

Unless you breach the lease it cannot be terminated prematurely ie before the year is out. That said, the landlord can give a shorter period of notice prior to the expiry of the lease for vacant possession. refer to http://www.fairtrading.nsw.gov.au for your rights

As you are not on a fixed term of a lease the landlord can increase the rent  as many times as they feel necessary each time giving 60 days notice – if you feel that the increases are not warranted you can enter a dispute at the dept of fair trading.Entering into another lease is optional however it does have benefits for both parties – for you,…[Read more]