Solomon10 started the topic Investing in Property Funds. in the forum Help Needed! 5 years, 10 months ago
Hi all, just wondering if anyone has invested with Australian Capital Secure Fund? The rate of return looks good to use cash to invest between properties,but struggling to find a genuine review by someone that doesn’t have an interest in the company. Any help appreciated.
Solomon10 replied to the topic development property help in the forum Help Needed! 8 years, 5 months ago
Hi Redwood, would you say in general terms that one would pay a decent premium for a property that already had approved plans and permits, over one that didnt?
Solomon10 replied to the topic A Good Place to start for first-time Investors with Carpentry experience in the forum Help Needed! 9 years, 1 month ago
http://www.realestate.com.au/property-house-vic-craigieburn-120824081
Something like this would be perfect for you,if you look long enough and hard enough the bargains are still there.Solomon10 replied to the topic Property Manager Croydon Vic 3136 Recommendations. in the forum Help Needed! 9 years, 2 months ago
Thanks for your replies,will suss it out.
Solomon10 started the topic Property Manager Croydon Vic 3136 Recommendations. in the forum Help Needed! 9 years, 2 months ago
Hi, Does anyone have any recommendations or avoidance advice for agents in Croydon Victoria to look after my IP? Thanks in advance.
Solomon10 replied to the topic Need 80% LVR on first investment property??? in the forum Help Needed! 9 years, 6 months ago
The 20% deposit may have something to do with this? Particularly if through Bankwest.
http://www.smh.com.au/business/banking-and-finance/banks-put-brakes-on-investor-lending-20150521-gh6imi.htmlSolomon10 replied to the topic Need 80% LVR on first investment property??? in the forum Help Needed! 9 years, 6 months ago
Solomon10 replied to the topic Capital Gains/Loss Calculation? in the forum Legal & Accounting 9 years, 6 months ago
For what time period can a loss be carried forward? Is there a limit of financial years?
Solomon10 replied to the topic GST and possible other taxes on development. in the forum Help Needed! 9 years, 7 months ago
Thanks Terry,my understanding now is, if sold in under five years GST would apply,and profits after GST and costs would be added to taxable income for the year. If sold after five years of being rented, no GST would apply and CGT should apply instead of income tax. Seems a better way if can afford to hold them for six or so years.
Solomon10 replied to the topic GST and possible other taxes on development. in the forum Help Needed! 9 years, 7 months ago
Thank you both for your replies and clarification, i will look into it further and add in CGT to the calculations.
Solomon10 started the topic GST and possible other taxes on development. in the forum Help Needed! 9 years, 7 months ago
I have had a look around the net and haven’t managed to clarify exactly what tax would be paid on a small unit development, done by an private investor. I understand all the GST implications, the information i’m after is, would income tax also have to be paid as well as the GST?
To me, just the GST doesn’t seem to be enough tax, where as…[Read more]Solomon10 replied to the topic Rough Breakdown of costs to demolish and build 3 or 4 units in the forum Value Adding 9 years, 11 months ago
To do all that for a nice finish level for Kilsyth i wouldn’t expect much change from a million. Also factor in selling costs,and taxation.
Solomon10 replied to the topic Be VERY careful who you listen to for advice on structuring/tax. in the forum Finance 10 years, 4 months ago
Thanks.
Solomon10 replied to the topic Be VERY careful who you listen to for advice on structuring/tax. in the forum Finance 10 years, 4 months ago
Terry, is it rarely that a client will be audited? Or rarely that reason is applied to said audit?
Solomon10 replied to the topic Be VERY careful who you listen to for advice on structuring/tax. in the forum Finance 10 years, 4 months ago
I think a lot of these “professionals” do not know the laws and codes they are bound by,nor the limited scope of their own profession. As always,it is a case of buyer beware,and choose the teams around you carefully.
Solomon10 replied to the topic Be VERY careful who you listen to for advice on structuring/tax. in the forum Finance 10 years, 4 months ago
I won’t be surprised either Colin. I read the other day that the ATO was going to run head on against developers playing with using cgt within trust structures and not declaring profits as income,logical next step to me would be interest only loans and assessing if they are fit for purpose as deductible expenses.
Solomon10 started the topic Be VERY careful who you listen to for advice on structuring/tax. in the forum Finance 10 years, 4 months ago
More for the newer investors, i thought i would share an experience i had today with one of the bigger banks. I had the Branch Manager/lender offering me tax and financial advice,if that wasn’t bad enough,also that advice was completely incorrect. I was advised that if i redrew up to 80% of my PPOR,then used it to do what ever i chose to do with…[Read more]
Solomon10 replied to the topic Purchasing property for child. in the forum Help Needed! 10 years, 7 months ago
Thanks Terry,finance issues with the trust might turn me more towards the way the new guy did it,keep it in my name and work it all out in 18-20 years.
Solomon10 replied to the topic Purchasing property for child. in the forum Help Needed! 10 years, 7 months ago
Thanks for the replies. JacM, as you said property isn’t the only investment,but over the length of time we are planning on,it looks to be a good one. On the trust issue would it be worth setting one up just for one or two properties?
Solomon10 started the topic Purchasing property for child. in the forum Help Needed! 10 years, 7 months ago
The wife and i have decided to make provisions for our new son. We were thinking of just putting away say $40 per week till he is 18,but even with compound interest it wont add up to much especially with inflation. Wondering now if we find a decent property that can be neg up to around the same 40-50 dollars a week the return will be a lot be…[Read more]
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