http://www.trustmagic.com.au/

crashy wrote:
"Don't you have to declare all foreign-earned income in your Australian tax return?"no, because as I already said, if income has already been taxed by another country, then it is tax exempt in Australia.

It is not that simple. Australia has double tax agreements with many countries, but not all. So you could be taxed twice,…[Read more]

Hi JamesYou can move out and rent the place and claim all expenses associated with it. But if it is positive geared you will probably have to pay tax on the income – but you can also claim on-cash deductions such as depreciation of building and fittings, and borrowing costs. This may make the taxable income from the property negative.For the new…[Read more]

Best to talk with your parents solicitor. It is a bit rude being told you have to wait an extra 3 weeks to move in – that is not what was agreed to. What would have happened if they had already given notice? You parents could have been with nowhere to go for 3 weeks!!

xya,The vendor probably would want the money early, but their bank would want a few more days interest too. There could be reasons why they are not ready such as not getting a discharge form signed by the vendor, not getting valuations done quick enough if the vendor has other loans cross collateralised etc.

FreelanceYou are assuming that capital growth property is negative geared – this ain't always the case. The ideal proeprty would be one that is positive geared, in a area with high growth potential and one which can be value added (reno, sub-divided, extra room added etc).

ness1474 wrote:
HI

I saw in the latest issue of API an advertisement for "The Village Coconut Island – Phuket Thailand".  Guaranteed rental returns of 7% over 4 years and capital gains of up to 15% per year.

Can anyone give me a heads-up on this?  Anyone with any experience in buying in Thailand – if you could lend a hand I would appreciate i…[Read more]

ness1474 wrote:
HII saw in the latest issue of API an advertisement for "The Village Coconut Island – Phuket Thailand".  Guaranteed rental returns of 7% over 4 years and capital gains of up to 15% per year.Can anyone give me a heads-up on this?  Anyone with any experience in buying in Thailand – if you could lend a hand I would appreciate i…[Read more]

Capital growth is what makes you rich. It doesn't really matter how you get it, but the more you get and the quicker you get it the better!

buying income producing property may help you get a few more quicker, but if there is not capital growth, then there is no point in my opinion.  making $50 or even $200 per month is going to take a lot of properties for you to retire on.But who knows if or when the capital growth will come back.

Daniel,Why not use Eddie? or at least consider him? He seems very helpful and knowledgeable.

Thanks K, fair enough it is done with the purpose of trying to borrow more. I though because there may be a period of a month or so between settlement and getting a loan, then it would be enough distance.

YEs, it will. You will be earning a shit load of money which doesn't hurt, and you can always get to know builders and other tradespersons and go and build a few houses cheap.

YThe lender is not basing their approval on the improvements. The property is only mortgaged after settlement. The valuer will do their own research and will not see the contract of sale. It will only work if the property is purchased cheap and under market value.

Banks generally only do this for spouses – married or defacto. They will ask what benefit does your brother obtain from going on the loan with you.However, some banks may consider this under family assistance type loans – though this is usually parents.

NarelleIs it an actual bank or one of those mortgage managers like Yes Home Loans etc. The mortgage managers get the funds from a wholesaler and then ad their margin.

Here are my non accounting views.If the property is sub-divided there will be 2 separate titles. Each owned by the company, with half of the loan attributed to each. If one townhouse is sold to yourself, then the company will receive funds. It should use at least part of these funds to repay the existing loan – the half that was sold.It is like…[Read more]

maybe.sort of.You could set up a hybrid trust or a unit trust and have the trustee own the property. The trustee could be a company for example. You could then borrow to buy units in the Hybrid trust or unit trust. If it was set up correctly, commercially viably, then you could personally claim the interest.Problems:- You have to be careful and…[Read more]

And you don't have to buy 2 now, but you could do it so you have the ability to get the grant again in the future.

don't pay it into the loan, keeping it in the offset is ideal for the future PPOR>