HiI don't think waiting will make any difference at all. If you are renting your property out you can claim all expenses such as rates, interest etc and depreciation – usually 2.5% pa of the building cost (after 1985 i think) this should include carports.

If you are buying and selling properties then you will just pay income tax, not capital gains tax. The properties would be classed as trading stock. Like buying and selling apples.If you buy a proeprty with the intention to rent it and later sell it for a gain, then you will have to pay CGT and will get the 50% discount if held more than 1 year.…[Read more]

Try excel. Thats what I use.I have tried various programs over the years, but excel is the best i think

hi KWYou should talk to a good accountant about setting up a trust. Since you have some cash, you could gift that to the trust after it is settled and should discuss the consequences of this with the account – you could loan it or gift it.Since your wife is not working, I assume she earns no income, so you could distribute income to her – up to…[Read more]

Hi DammitIf your wife can prove her income from the past 2 years tax returns, it may be argued that she is self employed – and they may not be too concerned about the short contract, although for the 100% loan they may be more fussy. Its worth asking St G

DaaussieSuper is still, I beleive, not able to be touched by creditors, if you go bankrupt – unless you have been deliberately pouring money in to avoid having to pay creditors. Trusts and Super (which is a trust) may not be 100% safe, but much better than your own name. There are also tax benefits too.

Thanks for the detailed answer Bianca.

There is plenty on the ATO site. Maybe you can try searching for 'double tax agreements', 'non residents' etceg.http://ato.gov.au/large/content.asp?doc=/Content/60937.htm

Temporary positions and contracting positions will make it much more difficult. you would even have trouble getting a 95% loan I am afraid.

I remember reading a little article many years ago saying property growth rates were misleading for a number of reasons including the fact that people are constantly adding value to their properties. So a property purchased for $200,000 may sell for $400,000 10 years later, but they could have redone the kitchen and put in a pool and spent…[Read more]

Def get an IO loan. Make sure you have have a 100% offset account attached and place all spare money into this account. This method will help you save interest and get the most tax benefits later.

If you split the block into 2, then each half would have a cost base of $150,000, so there would be a capital gain of $150,000. But if the split is not 50/50 you may be able to vary the figures.Also, if you bought the land with the intention to sub divide and sell, then CGT may not apply. It may be the profit is just straight income.have a look at…[Read more]

Agents play games. There may not be any interested people at all – or it may be true, you just never know. I would be inclined not to beleive him and not let it influence my offer.

You would probably have to report in rental income and expenses on your tax return both here and probably over there too. If there is a loss here, it should be able to be carried forward to future years so you can offset future income.its a complex area.

I am confused – why have you based it on a $50k loan when it is only $387.7% more is not too much, you will be saving interest by keeping your money in your account longer too. It you have an offset account you could be saving more like 8.7% pa each month plus interest saved on the home loan is pretax money too.Then there is the opportunity cost -…[Read more]

When you redraw from a loan you are borrowing money again. So the extra interest incurred on this new borrowing will only be deductible if the money was used for investment or business purposes.BTW, Interest on a loan for investment land should be claimable. Tell your accountant to look into Steele's case if he disagrees.

St G have a 100% loan with an option of paying no LMI but with a higher rate for 3 years. I beleive it is still available but you will need at least around 12 months full time employment to qualify

Hi RichardI haven't done any of these sorts of deals yet (and don't really want to), but I remember seeing an email from Mortgage Mart – they did the 85% LVR one a while back.

HiThese are probably "lease to own" type deals. You are essentially purchasing an option on the property with some of the rent money coming off the purchase price. eg. The property may be worth $200,000 now. They sell you an option for $2000 with a promise that you can purchase the house for $250,000 in 5 years time. You pay $300 pw rent, but…[Read more]

Hi BiancaIf the units need to be redeemed at market value, is there still a valid reason to own a property in a HDT structure?