Also from a paycheck to paycheck family. The first unit we purchased was our PPOR when the FHOG came in and why?……because the repayments were less than the rent we were paying an an adjoining unit (+ve cash flow…..whats that?!?!?!). The second, purchased 6 months later and in the same complex, was because my younger sister was coming to uni…[Read more]

Hi Xenia,I also have noticed that there is often an attitude that if you are working you are doing it all wrong. Interestingly, I have observed this attitude most in the "almost there Investor". I am sure you know the one, lots of information, all gunho, results just starting to be observed, stars in their eyes where it will all lead to. I do find…[Read more]

Hi JL,Yes, unless something has changed in the last few years, you pay within 3 months of exchange, and yes I was on an extended settlement and paid it at the 3 month mark, the property settling 4 months after that. I cannot answer what the outcome is should you not settle. Perhaps there are those with more experiecnce on this forum that can…[Read more]

Hi Familyman,Duckster is correct. I dont think anyone would wish to steer you in the wrong direction based on what we ourselves think. Each persons situation is different and so are the outcomes they wish to achieve. My suggestion to you before handing over any money, is for you and your family to sit down and clearly define what you wish to…[Read more]

Hi Simez,By all means feel free to share these loopholes, or point me in the right direction. I am very happy to do my own reading, I just didnt realise there may have been loopholes.Thank you in advanceTammy

Hi all,I also have 2 tickets available as a family wedding has popped up. I am open to offers for these tickets. Please PM me.CheersTammy

As per above except if it is a delayed settlement. Stamp duty  (NSW anyway) needs to be paid within 3 months of the contract being signed, and on one occasion, I did it myself as I was able to get to the Office easier and quicker than the solicitor.  BUt as a general rul, I would think that it is easier for the solicitor/agent to do this for you.Tammy

I guess it all depends an where you are looking. Here in regional NSW where summer temps can be over 40 deg with long hot dry spells, a stunning new home with no trees and a westerly aspect (ie patio in blaring sun) to me would not be as appealing as a bit older house with trees and an easterly or northerly aspect. But that is because my current…[Read more]

I guess it depends on what you are trying to change. I recently negotiated to alter the penalty for the construction going over the contract period. Not that it is easy to determine as all building supply delays and days "where precipitation occurs in the area" are added to the contract. It was more of an aknowledgement of my desire to have the j…[Read more]

And today I am hearing that irrespective of the RB's possible hold on interest rates, with the US situation becoming more of a concern, the big 4 are likely to increase the interest rate anyway. Any thoughts on if this is the case (RB holds but banks independantly increase), just how far the banks are likely to push it?Tammy

Can someone please advise if there is a way of claiming a land tax refund as indicated above. I sold a property in March last year and have just recieved a land tax bill for that property for the whole year. My solicitor never mentioned anything about land tax, should they?CheersTammy

Unfortunately, if the vendor doesnt want to settle on time, apart from recinding the contract I am not sure there is anyway to "make" them settle. I recently had a vendor just not be available to sign the transfer for 10 days and apart from threatening to  walk away, my solicitor said I just had to wear it. In that light, it may be reasonable to…[Read more]

The idea behind the JV in your instance (besides others) is a way for the transaction to be transparent to the ATO. That is, prior to any taxing and after costs are deducted, the profit is distributed 50/50 and then you each pay tax according to you particular situation. Obviously you would be best to seek appropriate professional advice, as I am…[Read more]

And yet, if you choose not to use a PM then you have access to all the private information anyway!!!! Go figure.

A possible option would be  a JV agreement where she is the finance partner and you are the time/project management partner where the agreement splits the proifts (or losses) 50/50. In this scenario, she secures the property and pays all outgoings whilst you put in the time. If you wanted to, you could always put a caveat over the property to…[Read more]

Wow, I too am impressed that it occured in such a tight timeframe. Congratulations!!!!!!Here's a toast to onwards and upwards.Tammy

Hi McNorman,Out of curiosity, where was the source of the jobs info?CheersT

Hi Scott, In my case the boot is on the other foot. I sold 2 properties, one in March 07 the other in July 07. I just recieved a land tax bill for $1700. When I called the number on the bill to say I no longer owned them I was advised that it is ownership as at the 31st Dec. I was also advised that it is not possible to pass on this tax to the new…[Read more]

from a laymans point of view,

My understanding is that the rent has to be set at market value and you would lose your CGT discount.

from a laymans point of view,My understanding is that the rent has to be set at market value and you would lose your CGT discount.