[trueblueMember@trueblueJoin Date: 2003Post Count: 142]

August 2, 2006 - 6:12 am

I wouldn’t claim the books under self eductaion as the 1st $250 is not allowable.

I’ve always claim them under technical books in the rental statement. Doesn’t really matter if you allocated them or not as it’s consolidated in the tax return.

If your properties are in jt names, they have to be allocated accordingly.

[trueblueMember@trueblueJoin Date: 2003Post Count: 142]

July 18, 2006 - 7:13 am

Hi Shaun, my sister has a property in Shanghai. Bought it about 3 years ago. As far as I’m aware, she’s yet to see any returns. She paid cash for the property. Not sure if it’s a place you’ll want to invest in.

[trueblueMember@trueblueJoin Date: 2003Post Count: 142]

July 14, 2006 - 6:14 am

The ATO requires you to declare income from all sources. That means HK as well.

[trueblueMember@trueblueJoin Date: 2003Post Count: 142]

July 14, 2006 - 5:57 am

There’s an auction place in Wangara that does this sort of thing. Just look under Auctions in Saturday’s West. Good luck.

[trueblueMember@trueblueJoin Date: 2003Post Count: 142]

July 4, 2006 - 3:01 am

Personally I do not buy IP with a pool or spa. It’s too much of a hassle. Not all tenants will look after them. The cost of maintenance is usually quite high as well.

[trueblueMember@trueblueJoin Date: 2003Post Count: 142]

July 4, 2006 - 12:08 am

Hold on if you can. Should you decide to sell, think about the tax implications as well. It’s going to be a capital loss which can only be offset against a capital gains. That means it’s going to be years before you can recoup your losses. Seen in that context, you may be better off to continue to negative gear the property rather than selling it.

Property investment is long term. You’ve gone through a couple of years already. Looks like you’re doing ok so far. So hang in there.

trueblue

[trueblueMember@trueblueJoin Date: 2003Post Count: 142]

June 30, 2006 - 5:06 am

That’s very similar to speculation. Ask someone who bought in Docklands during the boom.

Having said that, can your husband afford to hold a $850,000 property if he can’t offload it?

[trueblueMember@trueblueJoin Date: 2003Post Count: 142]

June 30, 2006 - 12:55 am

Like Carla I manage our own properties. Rent is increased every 6 months. The amounts vary depending on the market. I use the rental column as a guide but normally charges below market. With a good long term tenant, it’s worth your while to look after them as it benefits both parties.

[trueblueMember@trueblueJoin Date: 2003Post Count: 142]

June 29, 2006 - 7:23 am

We’ve build two houses through Dale Alcock & can say we’ve been very happy with them. A very professional mob to deal with.

trueblue

[trueblueMember@trueblueJoin Date: 2003Post Count: 142]

June 27, 2006 - 12:36 am

Very good advice Michael. We normally asked for 3 months bond or a personal guarantee. But I like the 6 months bank guarantee better.

trueblue

[trueblueMember@trueblueJoin Date: 2003Post Count: 142]

June 26, 2006 - 2:54 am

I’ve checked with my insurance broker. Unfortunately there are no covers for loss of rent for the situations you mentioned.

[trueblueMember@trueblueJoin Date: 2003Post Count: 142]

June 21, 2006 - 6:39 am

My understanding is that residential houses are input taxed ie no GST is payable on sale. Hence investment properties which are for residential purposes have no GST on them.

[trueblueMember@trueblueJoin Date: 2003Post Count: 142]

June 16, 2006 - 7:10 am

Geraldton is still good buying. The average property is about $40,000 to $50,000 below those in Bunbury or Albany. Try looking up Beachlands, Beresford, Bluff Point, Mt Tarcoola & Tarcoola. There’s heaps of work going up there. Go up there for the weekend & you’ll be amazed.

[trueblueMember@trueblueJoin Date: 2003Post Count: 142]

June 16, 2006 - 12:15 am

Generally a discretionary trust is much more flexible than a unit trust.

trueblue

[trueblueMember@trueblueJoin Date: 2003Post Count: 142]

July 21, 2005 - 4:48 am

Suggest you follow up on Midford and Deputy Commissioner of Taxation(2005) AATA623.

The tribunal ruling is very clear that both supplier & recipient need to address & document their GST intentions in regard to the supply by expressly agreeing in writing that it is a supply of a going concern.

[trueblueMember@trueblueJoin Date: 2003Post Count: 142]

July 14, 2005 - 6:09 am

No GST is payable provided there is a tenant already in place. If the property is purchased without a tenant, GST is applicable.

[trueblueMember@trueblueJoin Date: 2003Post Count: 142]

July 13, 2005 - 4:32 am

With commercial property, you do need to register for both ABN & GST.

It is important as well that when purchasing a commercial property with a tenant that the going concern clause is completed. Otherwise, ATO will enforce GST on the sale price.

[trueblueMember@trueblueJoin Date: 2003Post Count: 142]

July 5, 2004 - 4:58 am

Most tradesman don’t like working on asbestos houses. Should you need to knock down the place, removal costs are also very high. If possible, I’ll keep away from buying an asbestos house.

[trueblueMember@trueblueJoin Date: 2003Post Count: 142]

May 21, 2004 - 8:14 am

Our most recent buy is in Maddington, some 15km from the Perth CBD. Property return 11.3%. You do need to look for them. The properties are are there.

[trueblueMember@trueblueJoin Date: 2003Post Count: 142]

May 17, 2004 - 12:24 am

We have 3 commercial properties. As pointed out earlier, commercial properties are a pain if there are no tenants. Hence we stagger our buying so that the termination date of the tenants vary by at least a year.

It’s important to do a full due diligence before buying. It is also difficult to get good properties under $500,000. We keep in constant contact with a number of agents who specialise in commercials. Be persistent, keep checking them out & you’ll find one eventually. Good luck.