PropertyInvesting.com | scotts | Activity https://www.propertyinvesting.com/members/scotts/activity/ Activity feed for scotts. Sun, 12 Apr 2026 20:40:39 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 11957809f96379192eb90dbf4a5fa696 scotts replied to the topic Selling two properties without CGT event in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4409062-selling-two-properties-without-cgt-event/#post-4688988 Thu, 28 Mar 2013 05:37:57 +0000 yes during tax year of 2011-2012 i did lodge a tax return on property 2. that is the only claim as an IP made (on either property)

]]> 8b07aeafbd16e846358e8a8e15f976d9 scotts replied to the topic Selling two properties without CGT event in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4409062-selling-two-properties-without-cgt-event/#post-4688986 Thu, 28 Mar 2013 04:58:44 +0000 Terryw, is there not some rule about moving back into a property and making it your PPR again before selling?

]]> 67b9f28fd81d955d2c0325e9d6cc2a20 scotts replied to the topic Selling two properties without CGT event in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4409062-selling-two-properties-without-cgt-event/#post-4688984 Thu, 28 Mar 2013 03:04:19 +0000 thanks for the tip, i did end up seeing an accountant(s) in early last year, spent over an 1hour talk through my plans as I also have a small dev going to.
they advised they would get back to me and with verified advice (obviously what i was doing was outside of their comfort zone) on how the structure/restructure, but never did.
basically…[Read more]

]]> 9cdd2a9a01877e04e6f4a42f74ac3f44 scotts replied to the topic Sale of two properties, feedback required please in the forum Help Needed! https://www.propertyinvesting.com/topic/4406186-sale-of-two-properties-feedback-required-please/#post-4666317 Tue, 27 Mar 2012 21:17:58 +0000 thanks for the feedback guys

]]> 7bd14b975c23c1d43471fa49caaad32b scotts replied to the topic Sale of two properties, feedback required please in the forum Help Needed! https://www.propertyinvesting.com/topic/4406186-sale-of-two-properties-feedback-required-please/#post-4666314 Tue, 27 Mar 2012 11:22:21 +0000 but you don't actually claim it as PPOR until you sell it correct?would this not work..Property 1 purchased in 2003, lived in it fulltime until Jan 2010.Property 2 purchased in Oct 2010, moved in Jan 2011, lived there until Jan 2012.Property 1 moved back in Feb 2012 for 6months sell July 2012.Property 2 move back in Aug 2012 for 6months sell Dec…

]]> 86175f967b78e0e3a0cf0a919c1fcc77 scotts replied to the topic Sale of two properties, feedback required please in the forum Help Needed! https://www.propertyinvesting.com/topic/4406186-sale-of-two-properties-feedback-required-please/#post-4666312 Tue, 27 Mar 2012 11:00:45 +0000 i thought you can own a property as PPOR for 12months, rent it out of less then 6 years, move back in for 6months and sell it for PPOR?

]]> 1f98e12cda557fdc58dc115dc8b79265 scotts replied to the topic Sale of two properties, feedback required please in the forum Help Needed! https://www.propertyinvesting.com/topic/4406186-sale-of-two-properties-feedback-required-please/#post-4666310 Tue, 27 Mar 2012 10:46:17 +0000 Catalyst thanks for the info.I'm aware you can only claim 1 PPOR at anytime.What I'm wanting to know is what timeframe I would need to sell both properties in without paying CGT.I thought properties can go from PPOR to Non-PPOR and back again. 

]]> 05756f25e524fd39c7b72cff992b9a38 scotts replied to the topic Need advice, seek 450-500k apartment or home to purchase as IP in Melbourne in the forum General Property https://www.propertyinvesting.com/topic/4405010-need-advice-seek-450-500k-apartment-or-home-to-purchase-as-ip-in-melbourne/#post-4657769 Fri, 21 Oct 2011 04:46:50 +0000 There are additional costs with an investment apartment you need to consider, which may end up costing more then maintenance costs of a house.things to consider for inter suburb apartments yearly owners corporation fees, anywhere from $800-$5000 many older properties dont have split meters, so total cost of the water council rates may be higher…[Read more]

]]> 3997c60ebe95e30e948c31b28b13d58d scotts replied to the topic Can she do anything better? (possible subdivision) ? in the forum Help Needed! https://www.propertyinvesting.com/topic/4403742-can-she-do-anything-better-possible-subdivision/#post-4648590 Tue, 31 May 2011 00:45:41 +0000 if there is room for a driveway at the side of the property there maybe an option to sell off the backyard, which may make staying in the property affordable or even may off the remaining loan.

]]> c44183b398a22d4a874af23b228d889f scotts replied to the topic Negative Gearing vs Paying Off FAST in the forum Help Needed! https://www.propertyinvesting.com/topic/4403664-negative-gearing-vs-paying-off-fast/#post-4647969 Thu, 19 May 2011 00:22:23 +0000 solid info in the thread for newcomers… borrow 80% of the total purchase price, put whatever savings you have into an offset account linked to the loan.

]]> b5ca4541cb3c05d4946577e18aadde77 scotts replied to the topic DFT my understanding of what it can do.. in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4403588-dft-my-understanding-of-what-it-can-do/#post-4647406 Wed, 18 May 2011 02:40:39 +0000 interesting read, i wonder how many people are linked to trusts without having any idea..

]]> 716222d79ce1da21dbdb04f3f1bca428 scotts replied to the topic DFT my understanding of what it can do.. in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4403588-dft-my-understanding-of-what-it-can-do/#post-4647403 Mon, 16 May 2011 00:23:36 +0000 Terryw your above posts about centrelink is actually a bit of a worry…so just buy holding a property in a DFT with myself as the primary beneficiary, all other beneficiaries (even without their name spelt out) will have issues with centrelink benefits?eg.the sister of the primary beneficiarythe sister's children of the primary beneficiaryso both…[Read more]

]]> 6fb7981255f613dc8c31be079de8aa83 scotts replied to the topic DFT my understanding of what it can do.. in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4403588-dft-my-understanding-of-what-it-can-do/#post-4647401 Sun, 15 May 2011 23:54:25 +0000 Currently with the holdings they have, they cannot receive any centrelink benefits.Also could I not word the Trust so that family members can be a beneficiary with their name being spelled out?Example if I was part of the SMSF (not sure how to word it if only my parents are in the SMSF)egany trust in which a beneficiary is appointor of, trustee or…[Read more]

]]> bf391251592f319e33d6fe52880ad6d1 scotts replied to the topic DFT my understanding of what it can do.. in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4403588-dft-my-understanding-of-what-it-can-do/#post-4647399 Sun, 15 May 2011 23:28:40 +0000 okay well my parents are at retirement age and the 3 of us share a SMSF (built of cash and stock holdings).. so I will look into that angle.. thanks Terryw

]]> 37259f450c497bca0475aca10b8f9d87 scotts replied to the topic DFT my understanding of what it can do.. in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4403588-dft-my-understanding-of-what-it-can-do/#post-4647397 Sun, 15 May 2011 23:11:22 +0000 Terryw,Can the DFT distribute to a beneficiary that is a SMSF (trust)?thanksScott

]]> 5669f0b6d8c2ae39a9b608640a1d7dfb scotts replied to the topic Need advice on financial path to take... in the forum Help Needed! https://www.propertyinvesting.com/topic/4403606-need-advice-on-financial-path-to-take/#post-4647528 Thu, 12 May 2011 00:54:44 +0000 a bit more information might help you get more feedback from others here..like how much can you save for month?what are you short and long term goals?

]]> 8fd13e9eb62287f84906a8c571c0f912 scotts replied to the topic DFT my understanding of what it can do.. in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4403588-dft-my-understanding-of-what-it-can-do/#post-4647394 Tue, 10 May 2011 23:47:41 +0000 Terryw, Thank you, I'm happy to hear that my general understanding of what a trust can do is correct.Is there anyway for the trust to retain the profits after selling the properties and reinvest without distributing to beneficiaries or paying 45% (or whatever the highest tax rate is)?

]]> d6fa74ec4f7dc48118fa63a9d20612ae scotts replied to the topic Why the conner position property have more potential ? in the forum General Property https://www.propertyinvesting.com/topic/4403543-why-the-conner-position-property-have-more-potential/#post-4647143 Thu, 05 May 2011 03:24:12 +0000 Side Setback  (eg you can build closer to the street then on a normal block)..the following link examples it in detail http://brutalart.com.au/property-development/corner-block/

]]> 6a201460b7515055d74245f459b66721 scotts replied to the topic Should I take the commission only real estate job as a start? in the forum Help Needed! https://www.propertyinvesting.com/topic/4403547-should-i-take-the-commission-only-real-estate-job-as-a-start/#post-4647170 Thu, 05 May 2011 01:15:34 +0000 for a young person with no living expenses (eg living with parents, paying no rent/food bills) I think its fine to take a commission only job and see where it takes you, however if you have living expenses and debt it will be highly stressful for you..also is that the area of real estate you want to get into or are you only interested because its on offer?

]]> f44db30e403a06fb50b83e2db567ed06 scotts replied to the topic to rent or sell? opinions required in the forum thanks for the replies https://www.propertyinvesting.com/topic/4403488-to-rent-or-sell-opinions-required/#post-4646853 Fri, 29 Apr 2011 00:37:59 +0000 thanks for the replies guys..  the renting the house part (and the wife working from home) make sense, i've done the sums on that… so thats defiantly going ahead..the question is whether to keep or sell the apartment..its in Hawthorn, which has had great growth the last 4-5 years… I think it will now flatten out.i know doing another backyard…[Read more]

]]> 31ba0ae2d73ccd931fbaf07be1635cb1 scotts replied to the topic ( PART 2 - Looking for a Mentor ) I want to retire in 6 years and I'm going to make it happen in the forum Help Needed! https://www.propertyinvesting.com/topic/4403379-part-2-looking-for-a-mentor-i-want-to-retire-in-6-years-and-im-going-to-make-it-happen/#post-4646080 Tue, 19 Apr 2011 00:49:21 +0000 Sorry if I'm sounding rude but why would anyone want to mentor someone who isn't in a financial position to begin investing in property. As stated in your other thread, you need to focus on an income that can secure the investment future you desire.

]]> f574a186c599a18334e16e914f841501 scotts replied to the topic I want to retire in 6 Years, Going to make it happen ;) in the forum Help Needed! https://www.propertyinvesting.com/topic/4403235-i-want-to-retire-in-6-years-going-to-make-it-happen/#post-4644797 Mon, 04 Apr 2011 04:39:28 +0000 to be blunt you have zero chance at making it happen working your current job.. personally i would forget real estate (right now) and focus on your day job, study/get educated and move into a higher paying job then look to invest your earnings in real estate….   that doesn't stop you from educating yourself in all things real estate right now,…[Read more]

]]> 361631868aa0a976de47d89eca2a3149 scotts replied to the topic Getting more rental income in the forum i've seen it done and it https://www.propertyinvesting.com/topic/4403210-getting-more-rental-income/#post-4644661 Thu, 31 Mar 2011 04:59:39 +0000 i've seen it done and it works, my sister rents and has 2 dogs, defiantly harder to find a place to rent… obviously it may take longer for the tenant with the dog to come along..

]]> f575f9cc4ac25446c7bc0fe1e0cbe509 scotts replied to the topic Wanting to run some things by you :) in the forum General Property https://www.propertyinvesting.com/topic/4401206-wanting-to-run-some-things-by-you/#post-4631924 Wed, 02 Mar 2011 03:30:56 +0000 MosicLandscapes, can you post the breakdown of your figures… ? you'll get better responses then i think

]]> f88a6057273e585e7426a37539eacb75 scotts replied to the topic how to record mortgage to me on my son's home purchase which may become rental property later in the forum General Property https://www.propertyinvesting.com/topic/4402790-how-to-record-mortgage-to-me-on-my-sons-home-purchase-which-may-become-rental-property-later/#post-4641895 Fri, 18 Feb 2011 00:36:08 +0000 i haven't read every post so not sure if anyone has mentioned this..the money you lend your son will most likely be factored into his serviceability of his bank loan (saw this happy with NAB late last year). so if you are lending him money because he is unable to borrow the full amount, he may run into problems, unless your money is a gift (stat…[Read more]

]]> cc51acb14c3cedeb25322946a96f46db scotts replied to the topic Transfer of title / Sub Dividing / Stamp Duty - Newbie Questions in the forum Help Needed! https://www.propertyinvesting.com/topic/4402428-transfer-of-title-sub-dividing-stamp-duty-newbie-questions/#post-4639505 Tue, 11 Jan 2011 04:38:50 +0000 from what i have read on this forum you can get a loan regardless of who's name is on the title.i'm sure someone better informed will answer your question..

]]> 43a2207cd062d0d9d6cffb2c5e745e18 scotts replied to the topic Granny Flat vs Sub-division in the forum Help Needed! https://www.propertyinvesting.com/topic/4401142-granny-flat-vs-sub-division/#post-4631534 Wed, 27 Oct 2010 23:17:52 +0000 from the front page of grannyflatsaustralia.com.au "By investing $105,000 in a granny flat, it can be rented for around $350 / week, and then extra income can help to reduce the mortgage by several years."wow you can almost build a house for that price…….

]]> 4f71d72768e827c9e2fc327d579ab03c scotts replied to the topic "Income" from housemate/tenant/boarder in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4401633-income-from-housematetenantboarder/#post-4634816 Tue, 26 Oct 2010 04:03:12 +0000 how will the ATO prove that you received an income?

]]> 7eec271c7823b86396505c0b146ce060 scotts replied to the topic Tax Treatment of property not rented in FY in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4401551-tax-treatment-of-property-not-rented-in-fy/#post-4634230 Mon, 25 Oct 2010 06:35:37 +0000 see an accountant… however if your intention was to rent the place then yes you could be able to claim.

]]> b961316fb15afe058b127ce5cff65472 scotts replied to the topic "Income" from housemate/tenant/boarder in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4401633-income-from-housematetenantboarder/#post-4634814 Mon, 25 Oct 2010 06:33:23 +0000 your too honest.its simple.. he's a mate thats living with you, he gives you cash now and then which you spend on food, toilet paper etc..

]]> f0aea8b3c1c63f03ce2ab57242ff0e32 scotts replied to the topic Asset rich Cash poor in the forum Help Needed! https://www.propertyinvesting.com/topic/4401590-asset-rich-cash-poor/#post-4634459 Thu, 21 Oct 2010 21:57:41 +0000 might be stating the obvious here.. but if retirement is still 15 years away, can you not try move into a higher paid job?   study, certs, courses etc what it takes to get a higher paid position.  The move cashflow you have to work with the faster you will reach your goals..

]]> 6b7051d5e2d6bf3988c7dc2b6077ceb1 scotts replied to the topic Structuring for Asset Protection & Tax Advantages in the forum Terryw, what if the profits https://www.propertyinvesting.com/topic/4401364-structuring-for-asset-protection-tax-advantages/#post-4633231 Tue, 05 Oct 2010 06:16:22 +0000 Terryw, what if the profits of the sale goes to multiple beneficiary's, can they all receive the discount?

]]> a359a26822d2b42520477391ca7d0b47 scotts replied to the topic Structuring for Asset Protection & Tax Advantages in the forum Terryw, do you know if a https://www.propertyinvesting.com/topic/4401364-structuring-for-asset-protection-tax-advantages/#post-4633229 Tue, 05 Oct 2010 05:15:38 +0000 Terryw, do you know if a trust owns a property for over 12months, if there is a 50% CGT discount like owning under your own name..

]]> 6a88718bdf2c548f94fe032bc282a8f9 scotts replied to the topic Trust or my name for next IP? (given this situation) in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4401108-trust-or-my-name-for-next-ip-given-this-situation/#post-4631296 Fri, 10 Sep 2010 05:17:58 +0000 Terryw that's very helpful..I'm going to be into IT consultancy I know I can form a company and be paid that way but I'm not sure I can form a Trust and be paid into that. 

]]> 7f95373973c67af51bc97eb47fbaad83 scotts replied to the topic Trust or my name for next IP? (given this situation) in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4401108-trust-or-my-name-for-next-ip-given-this-situation/#post-4631294 Fri, 10 Sep 2010 01:22:01 +0000 Terryw, If you ran a business through a Company and made a profit, can this profit be distributed by the Company to a beneficiary being a separate Trust that holds a negatively geared Investment Property?

]]> 479119aad90d50f5098dd55bdafba4a6 scotts replied to the topic Redraw facility on the Investment loan in the forum Finance https://www.propertyinvesting.com/topic/4401028-redraw-facility-on-the-investment-loan/#post-4630854 Tue, 07 Sep 2010 04:39:18 +0000 thanks Terryw, but I won't be moving out for another 2 years…the place is already well in positive, but obviously i would like the loan to be as high as possible… its a shame i didn't know about this before, as i've paid the loan some 30k down over the last 5 years.

]]> 9cf4cf2f7d577c6dc3cd9d39dfec013d scotts replied to the topic Redraw facility on the Investment loan in the forum Finance https://www.propertyinvesting.com/topic/4401028-redraw-facility-on-the-investment-loan/#post-4630852 Tue, 07 Sep 2010 03:36:42 +0000 Terryw wrote:
Do you mean you will pay more interest for the loan with the offset? if not it may be worth changing. Your loan should be interest only too.Do the sums, maybe it is worthwhile putting the money in an ING account in the name of a low income earning spouse if you have one.

thanks terryw.. yes the loan with offset account is 7.04%…[Read more]

]]> 5aaad0b4926a2b39bff7df4d22b20804 scotts replied to the topic Redraw facility on the Investment loan in the forum Finance https://www.propertyinvesting.com/topic/4401028-redraw-facility-on-the-investment-loan/#post-4630850 Tue, 07 Sep 2010 02:04:53 +0000 but that redraw is build up from additional payments?? so your taking back the extra money you put in….  and the total loan goes back to $230k… also what happens when you refinance? how does the ATO know what the loan amount was and whether extra funds were taken in and out before the property was an investment..   my problem is my PPOR loan d…[Read more]

]]> 7385c10fd7bec6f9005f7b1c24c4b55b scotts replied to the topic Redraw facility on the Investment loan in the forum Finance https://www.propertyinvesting.com/topic/4401028-redraw-facility-on-the-investment-loan/#post-4630848 Mon, 06 Sep 2010 23:58:55 +0000 Terryw, what if the loan is on a PPOR, then changes to a IP..example would be owe $200k then redraw has $30k…. you withdraw the $30k (spend it..) and only make the IO payments, the next financial year you move out the property. .the loan total is now $230k with zero redraw and is now a IP.is the $230k deductible? 

]]> 7cc42bafe2028e710b06a11498284474 scotts replied to the topic Ratebusters.com.au - opinions please. in the forum Finance https://www.propertyinvesting.com/topic/4389759-ratebusters-com-au-opinions-please/#post-4568242 Mon, 06 Sep 2010 23:37:02 +0000 i would go see a few different brokers and see what they can offer..

]]> d11f2ef85eb4f154f08c50e047d14c80 scotts replied to the topic Hey newbie here, can someone show me the holes in my plan it seems to good to be true in the forum Help Needed! https://www.propertyinvesting.com/topic/4401115-hey-newbie-here-can-someone-show-me-the-holes-in-my-plan-it-seems-to-good-to-be-true/#post-4631345 Mon, 06 Sep 2010 23:19:06 +0000 caps is considered shouting….. its also hard to read…if you want some decent responses i'd suggest editing your post and removing the caps.

]]> 829707b6f8bc01bb079b6764ce5deade scotts replied to the topic Should I transfer PPoR to Family Trust in the forum Help Needed! https://www.propertyinvesting.com/topic/4401031-should-i-transfer-ppor-to-family-trust/#post-4630859 Mon, 30 Aug 2010 03:37:46 +0000 i'll leave this for the pros however if you dont already know to move the property into a trust you'll be up for stamp duty, plus any legal/loan fees.. which may put you off the idea altogether.

]]> 27e98ce25e4f1320af3bc414158b6db1 scotts replied to the topic Can't find a tradesman ... www.womow.com.au (this is not an advertisement) in the forum Help Needed! https://www.propertyinvesting.com/topic/4400835-cant-find-a-tradesman-www-womow-com-au-this-is-not-an-advertisement/#post-4629627 Wed, 11 Aug 2010 00:28:45 +0000 I used serviceseeking.com.au a few weeks back to get quotes on some plumbing work. Out of the 3 people that attended, 2 were help and gave decent quotes, 1 was a total time waster.the good thing about sites like above, is the contractors contact you… so you just place your job add and wait..

]]> 645758887f4d71bd8462ec77c34b8e33 scotts replied to the topic CGT and my options... in the forum Help Needed! https://www.propertyinvesting.com/topic/4400791-cgt-and-my-options/#post-4629438 Fri, 06 Aug 2010 06:13:45 +0000 Yes I should have seen an accountant first, however this property come up and I didn't want to miss out.I'm considering moving into the house, have to discuss it more with the wife.

]]> 8637a70d98e609eb68b63fb2429c1d75 scotts replied to the topic CGT and my options... in the forum Help Needed! https://www.propertyinvesting.com/topic/4400791-cgt-and-my-options/#post-4629436 Fri, 06 Aug 2010 05:37:00 +0000 i was planning on get professional accounting advice, however i thought i'd float the idea here first…

]]> ebecf7811d781d893472e06c7e2f2d3b scotts replied to the topic please help me decide IP to IO in the forum Help Needed! https://www.propertyinvesting.com/topic/4400763-please-help-me-decide-ip-to-io/#post-4629279 Thu, 05 Aug 2010 06:16:03 +0000 thanks for the input Terry…. anyone else??

]]> 90b314b78e9828094e636cb60cc52264 scotts replied to the topic Aussie Rob in the forum Help Needed! https://www.propertyinvesting.com/topic/4400017-aussie-rob-2/#post-4624841 Tue, 25 May 2010 05:04:01 +0000 have you tried google? there is a bit of chat going around about him

]]> 97e98f7d12f1f6b9ffd381dcb94afbea scotts replied to the topic Victor Kumar Right Group Australia in the forum Heads Up! https://www.propertyinvesting.com/topic/4379592-victor-kumar-right-group-australia/#post-4511881 Wed, 05 May 2010 00:29:07 +0000 i know this is old, but does anyone have any feedback on Victor and/or the Right Group?

]]> 2f205edd0b6196408c5e98db28d3d1fd scotts replied to the topic beneficiaries of discretionary trust in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4397700-beneficiaries-of-discretionary-trust/page/2/#post-4611113 Thu, 25 Feb 2010 04:35:46 +0000 Terryw, does that mean there is no way to control (through a trust) a property, without a future spouse having rights to it (unless having a FBA)?

]]> c59a33ea631f662890c69d6da873831d scotts replied to the topic Good accountant needed in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4396713-good-accountant-needed/#post-4606456 Thu, 05 Nov 2009 05:45:59 +0000 can someone recommend a accountant in melbourne that really understands property and Trust structures.

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