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Viewing 8 posts - 1 through 8 (of 8 total)
  • wafti123
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    March 23, 2011 - 12:07 am

    Yes, great comments guys. Thanks for that.

    wafti123
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    @wafti123
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    Post Count: 10
    March 21, 2011 - 8:33 am

    I think you are right luke. According to http://www.ato.gov.au/corporate/content.asp?doc=/content/00244448.htm the fridge is not instantly deductable.

    Cheers,

    Dan

    wafti123
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    March 21, 2011 - 8:21 am

    Thanks Luke86,

    yes, the fridge is included. The house is my PPOR but I have decided to move out and rent the rooms for a while. I left my fridge there. The fridge was given to me so I don’t have records of the original cost.

    wafti123
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    @wafti123
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    Post Count: 10
    March 21, 2011 - 8:04 am

    Sorry to raid the thread, but can you claim the cost of replacing a fridge in a rental?

    I assume this is expense in nature (rather than capital) because you are replacing something that was there before that did exactly the same job and doesn’t add value to the property.

    wafti123
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    Post Count: 10
    March 10, 2011 - 10:52 am
    Terryw wrote:
    Any deposit into a loan is a payment and any wthdrawal is new borrowings.

    If you pay money in advance into a loan and then later take it out to buy a new main residence the interest on this 'new borrowings' will not be deductible.

    have a look at this weeks newsletter at http://www.bantacs.com.au (no 222 from memory) as there is a really good article on this sort of thing

    Wow, this is helpful for me too. Does this mean that (interest paid on) re-drawn money used to pay for shares (to reduce a margin loan) is not tax deductable if it went through a Streamline (transaction) account on the way?

    Cheers.

    wafti123
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    @wafti123
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    September 14, 2010 - 4:29 am

    Thanks,

    that answers my questions :-)

    wafti123
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    September 14, 2010 - 3:20 am

    Thanks guys,

    I was wondering that if you don’t change your mailing address, how can you prove to the ATO that you were absent from your PPOR. It seems that there is nothing stopping someone from saying that they moved out for a short time to claim the CGT exemption while actually living in their PPOR.

    Dan

    wafti123
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    @wafti123
    Join Date: 2010
    Post Count: 10
    September 14, 2010 - 2:03 am

    Hi Kris,

    that is a great answer, thanks. I am not going to buy another property. I was thinking of boarding with my folks or renting somewhere closer to work so that I can cycle to work while my car is out of order. Finding tenants isn’t too hard as my friend has already expressed interest.

    I am able to collect my mail from my PPOR once a week. Having said that, is it advisable to redirect my mail to wherever I end up renting?

    Thanks once again.

    Dan

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