I see! Thanks Simon

Wayne

“What is the lap record, and which way do i go?”

Cj

The bank forced us to put the loan in both our names and used the property as security.

Wayne

“What is the lap record, and which way do i go?”

Hi Dee

I have recently found a guy at RSM Bird Cameron, he has saved us heaps of money since joining his company.

I previously was using an accountant in Rockingham for the last ten years, but found he was too reactive, it was always after the end of the tax year that i found out i had to pay tax through capital gains. I knew prior that i would…[Read more]

Hi CJ

The house was paid outright, why do you ask?

Wayne

Richard

Dongara near Geraldton, Western Australia

Wayne

Terry

Just had a brief look through, obviously needs further reading.

the interest is incurred with one end in view, the gaining or producing of assessable income; and

Even though i may not plan to build on the land, a capital gain is assessable income.

I hope this is not too personal, but do you hold land that you clain deductions on, pass on…[Read more]

Has any body used Depreciators services, any good or bad feedback appreciated as i just made contact with them yesterday to do some schedules for myself.

Scott

I imagine you would want a right to reply?

Wayne

Terry

thanks for your extensive and informative reply, i will check it out, may take me a while to decipher it though.

Karm

Thanks for the leads for an accountant, unfortunately i am on the other side of the country. I will however keep an eye for some second hand goats for my wealth building strategies.

Wayne

I spoke to a professional in Perth, who informed me that a restrictive covenant is a fairly simple process providing you own the land.

I would have to purchase the land first, then they could place just about anything on the restrictive covenant for a total cost of approximately $1500. Apparently his compant does many of them in the rich suburbs,…[Read more]

Hi Marg,

Maybe the same case Terry was refering to. My understanding was that there were no deductions in finacial years that the land was being held, but on selling the interest and buying costs could be added to your cost base, and in return reduce the amount of CGT payable.

I dont know why i thought this, may have read it somewhwere, dont…[Read more]

I had a look on the ATO web site, but you cant see the forrest because of the trees.

There is so much information i found my self going around in circles, though the journey did reveal heaps of other interesting things in regards to rental properties.

I think i may have to ring them, i dont like giving my name to them and was trying to avoid…[Read more]

Celeste

Thanks for the input. The other intersting thing that we found out later, was that the raffle organisers would only allow the title to be in the name that the ticket was bought in.

We wanted to put it in the name of our family trust, but were unable. You dont expect to ever be in this type of situation, but we certaintly ensure that now…[Read more]

Very Lucky actually, as it was a direct debit from our credit card, we had paid out the credit card 3 months prior and asked for it to be cancelled.

When we found out we won the home and recieved the credit card statement, the only trasaction was the purchase of the tickets, they allowed the direct debit to proceed.

We did recieve about $5000 of…[Read more]

Terry

I was not sure, because i thought that you had to charge market value rent? I will obviousley run it past the accountant, but it is always good to get external advice as well

Thanks anyway!

Hi Guys

My biggest hindsight mistake ended up being a good thing, you know the old saying ” one door closes, another opens”.

I bought a duplex in 1998 opposite the green acres caravan park in Dunsborough for $175,00. It was only one street back from the ocean and had a lane way opposite to the beach. I was renting it out as holiday…[Read more]

I wiil email you one i use, only excel spreadsheet, but seems to have most things covered and can change to suit yourself.

Regards

Wayne

Hi Guys

Has anybody heard if meeting is still planned for this Wednesday, i dont have access to my emails at the moment. But if it is still on, could some call and let me know details.

Wayne10539
Mobile: 0428 941 059

Hi Heather

Your not alone, i have been unable to get through to KelIy also, niether through this site or email.

Does not leave much time for details.

Nat23 or celeste have you had any luck?

Wayne

Hi Kelly

Were you involved in the original Western Australian chapter of the investors club? Are to organising it on behalf of any other party that may have an financial invested interest?

Do you have an agenda for the first night, and have you had much interest at this point? Will it be in Perth, as i would have to travel from Dongara?

Regards

Wayne

Marc,

Thanks for the reply, i have been getting conflicting stories in regards to whom can place the covenant, some say the owner and others say the developer. I am glad your own situation as turned out well. Also if you are still in LA when we come over, i will drop you a line and have that beer.

Bridgebuff

Buying thye block and building a…[Read more]