Hi SnowflakeSounds like you have a loan with your parents and you will be refinancing that loan, so you should be ok.

I am not so sure from a tax POVThe repaying the parents should be fine, you are just refinancing that loan with another.But the $15k reno bit may be tricky. If you borrowed this from your parents or someone else, then you would be just refinancing. However, if you paid cash for it, then you have spent the money already. Increasing the loan by $15k…[Read more]

It should not matter as long as you are charging market rates. Maybe you should protect yourself by gathering evidence of market rates at the time of renting in case the ATO comes a knocking.

Hi PosI was too. Think it may be due to there being some spaces in the address. Do a google search on the file name: living_off_your_equity.xls

Rental management fees vary from state to state. In Vic, it seems they like to charge around 7 to 8% for management. I havent paid any advertising fees (this may vary depending on area with no need in high demand areas). In NSW management seems to be around 7% (lower maybe because of higher rents?). No advertising fee here either. The leasing fee…[Read more]

If you are going to put a finance clause int the contract, it is best to name a lender and the amount. This should allow you easy exit if declined. If you just put something vague, the vendor could find you finance, at a higher rate, and you may be locked in.Also remember for a contract (for land) to be enforceable they need your signature on a…[Read more]

Tax deductibility doesn't depend on the owner of the asset, but whether the expense relates to business or investment.

I had a look at that link, http://foreclosedjapan.com/openrealty/index.php?action=listingview&listingID=1044This property is in Aichi which is a small country province. Looking at the map it is not even close to the city either. Country towns have lower population growth than the rest of Japan, Which is declining, because many young people go live…[Read more]

The company owns the property so it must claim the expenses, including interest. If the company has no other income, then it will have a loss which may have to be rolled over to future years.You may need to divert income into the company to use these loses, but be careful with having the company run a business as this will put the property at risk…[Read more]

Hi CliffYou must be in QLD??? I think that is the only place where they charge more stamp duty for investments. You may be able to get a refund by contacting the Office of State Revenue.

I've been going to Japan since 1990 and have one house there. I wouldn't invest in property there as the market is totally different to Australia. Firstly it will be very difficult to borrow to buy there unless you are working there with about 2 year employment history. Then it is very difficult to get a loan still, especially if you are intending…[Read more]

try Mike at http://www.guardianpartners.com.au

Maybe he wants you to remove it just in case it falls and damages the house when he does it.

What about just going back to work temporarily. You could work in IT for a few months, get the loan and then quit?

I am no lawyer, but believe you do not have a valid contract unless the vendor has signed and you have the contract with their signature on it. But there are exceptions to this rule so discuss it with a lawyer.

It depends on how serious they are auditing. They may just want some questions audited. If they are looking at everything, then they can easily find out your role in a company. An ASIC search will quickly show your directorships and shareholdings. A copy of your credit report will also show directorships. They can get these, if they want to. If…[Read more]

If you are going to build a PPOR, then having it in the trust will mean paying extra land tax as well as CGT later. Transferring it to your individual name now may save heaps of CGT later as well as ongoing land tax, so it may be worth paying the Stamp Duty and CGT to do it now.But…….. What are your long term intentions? You may be better off…[Read more]

You can get the name from Land titles office of your state, online, for a few dollars. But once you have the name, you still need to locate the owner, which is the hard part.

Losing 10% deposit may be better than buying a place $80,000 over value.

Its a bit hard to understand you without punctuation. Are you saying you have 14 days to settle because it is completed early?There will probably be a clause in the contract which states settlement with occur within 14 days of XX happening. This XX has probably happened and you agreed to this, so you must settle. If you cannot, depending which…[Read more]