Before you sign make sure you do your research as those fees are large.I think part of the fee may be deductible upfront. Part of it would relate to borrowing cost and so could be claimed over 5 years. part would be buyers agent type fee for locating the property and this would be claimable against CG when sold and then part of it for finding the…[Read more]

Yes Henry, that would be possible, but you would lose the CGT exemption for 50%. But if you moved out completely you could retain it completely exempt in some circumstances

I just reread you post and I don't like your chances of getting any compensation or getting it fixed. The bath is in place so that would be impossible to move, you may be able to get them to put some sort of stopper on the door though. Store room will be unable to be changed too. I guess this hasn't resulted in a change to the size of the…[Read more]

Are there any special conditions about the layout of the design or variations etc?And what do you want to do?

It depends if you pay the full balance off every month. If you do then I think you could borrow from the LOC and pay off the credit card loan. You would be just refinancing debt. Should be ok as the money goes straight from one loan to the other.

You would be paying one loan out with another. It is possible to do and to maintain deductibility, but you need to be careful

Unless you want to cross coll the properties (not good) you would need one LOC per property.LOCs generally have a higher rate than IO loans.

Firstly, read the contract and see what it says about variations. If it possible you have agreed to allow minor variations. If it is not in the contract then you could be able to use this as a way to terminate the agreement.If you don't settle on time then the vendor could issue a notice to complete and then they can terminate the contract after…[Read more]

Hi DavidI have been going to Japan for over 20 years now. The property market is very different there. Properties are like new cars, they go down in value. There has not been any capital growth for about 20 years when the bubble burst. I had thought about buying there for the high yields, but you will also encounter problems with finance – it is…[Read more]

Everyone wants to pay as little tax as possible and the best way to minimise income tax is to use a flexible structure such as a discretionary trust. Any other structure is inflexible.Discretionary trusts offer the greatest asset protection too.But the problem for your mum is that she already owns the property. Transferring means paying stamp duty…[Read more]

Hang on, I think when an audit is conducted the SRO would write to the individual and to request them to provide them with documents such as electricity notices, drivers licence, etc. So the individual could have provided these documents to the SRO.

Colin, Yes when i was in the AFP I obtained personal records such as electricity, telephone etc from the providers without a search warrant. This sort of information is requested by filling in a short form and stating what sort of offence you are investigating. Some requests may need to be signed by an authorise officer.A warrant would be need to…[Read more]

There are some calculators floating around the somersoft.com forumBut all you have to do is to add up expenses and deduct these from rental income.

Why not do some figures? On a $650,000 property the tax savings would be substantial I think.

Yes, but you also have to factor in non financial things too – the hassle of being told the lease won't be renewed and having to move, changing schools for kids etc.

1. possibly no CGT2. If there is a profit then tax would be payable.3. same as 2It is not easy determining CGT/Income tax on a main residence sub-division. Go to bantacs.com.au and look at their PDF booklets for some ideas.

Haven't you heard of data sharing? Are you telling me the ATO needs to get a warrant to get your interest details from a bank, or from centrelink?I used to be in the AFP. You can't imagine how many checks are done everyday such as telephone subscribers, electricity checks. No warrant is needed for these.

more like 4 yearshttps://www.propertyinvesting.com/forums/getting-technical/legal-accounting/4322697But the links in my post are dead now

Jules, I have written about it here before – its in one of my 11,220 posts somewhere -2-3 years ago from memory.

No need for a warrant for these sorts of enquiries. Police and other agencies, even private investigators, could get access to these records if they relate to the investigation of a possible offence.