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  • www_eric replied to the topic CGT with 6 years Temporary Absence rule in the forum Legal & Accounting 1 year, 10 months ago

    Thank you Terry and Scotty,

    I have read some articles and I think that Terry is right. Probably I should change my accountant :( not very happy that she gave me wrong information..

    Any good accountant in Sydney you could recommend?

    so technically to calculate CGT in my case. Please let me know if I am wrong

    Total ownership period: 6 years…[Read more]

  • www_eric started the topic CGT with 6 years Temporary Absence rule in the forum Legal & Accounting 1 year, 10 months ago

    Hi All,

    I am trying to understand the Temporary Absence rule.

    For example,
    I purchased a house in year 2007.
    In April 2010, I purchased a 3 bedroom apartment and moved in as PPOR.

    After few months I rented out 1 room and occupied 2 other rooms.

    From Feb 2014 – Feb 2016,
    I moved out and rented out the whole apartment managed by the agent.…[Read more]

  • www_eric replied to the topic 30 properties before 25, finance??? in the forum Finance 2 years ago

    Hi Richard,

    could I please get a copy of your article also? my email is chc5686@gmail.com
    thank you

  • www_eric started the topic Property market value as cost base for CGT in the forum Legal & Accounting 2 years ago

    Hi All,

    A friend recommends me to do a property valuation so it can be a cost base when calculating CGT in the future.

    2 questions

    1. Where can I get a valuation? From property agent, bank or third party company? If from third party company, can anyone suggest a company? Is ATO approved?
    2. The house I purchased and lived there 2 years after I…[Read more]

  • www_eric replied to the topic Recommendation – Loan Proection Insurance in the forum Help Needed! 2 years, 12 months ago

    Thanks so much Richard. I feel more confidence about this company.

  • www_eric replied to the topic Help – Reduce Tax & get family assistance in the forum Legal & Accounting 4 years, 8 months ago

    JD,
    that is alright.

    I thought a family can only get FTB A or B (or nothing like me). How can you get both?

  • www_eric replied to the topic Help – Reduce Tax & get family assistance in the forum Legal & Accounting 4 years, 9 months ago

    Thanks for the reply.

    There are Family Tax Benefit Part A and B.
    From what I understanding,
    A is for family’s adjusted taxable income for this financial year less than certain amount.
    B is for families with one main income, where one parent stays at home to care for children full-time.

    So basically I cannot get benefit A.
    As the properties under…[Read more]

  • www_eric replied to the topic Need advice what to do next in the forum Help Needed! 4 years, 11 months ago

    Thanks everyone.

    I will talk to my broker to restructure my loans.

  • www_eric replied to the topic Need advice what to do next in the forum Help Needed! 4 years, 11 months ago

    Thanks Shane.

    As originally I lived P1, I paid interest and principal. I did not change the loan structure after I moved to P2.

    I thought it will be a good idea to pay interest and principal because I can pay off faster.

    But from reading articles, it seems not a good strategy for investment.

  • www_eric replied to the topic Depreciation Schedule in the forum General Property 6 years, 10 months ago

    I live in Sydney area. just got quote $580…..a bit expensive. But very fast response.

  • www_eric replied to the topic INFORMAL DISCUSSION GROUP IN SYDNEY in the forum Heads Up! 6 years, 11 months ago

    Pls count me in. I live in Hurstville

  • www_eric replied to the topic Can I claim for negative gearing and depreciation in the forum Legal & Accounting 7 years ago

    Dan42 wrote:
    If you are not declaring the income, then you can't claim the expenses.Depending on other factors (what rent is being charged, did you advertise for the tenants,) the ATO may declare this income  as board instead of rent, so you wouldn't have to declare it as income.

    Yes, that is why I want to find an Accountant to check for me.…[Read more]

  • www_eric replied to the topic Can I claim for depreciation? in the forum Help Needed! 7 years, 1 month ago

    Thanks for the suggestions.Also, I am moving to a brand new 3 bedroom apartment. I plan to rent 1 or 2 rooms out. Can this apartment consider as an investment property?  Can I claim for depreciation? cheers

  • www_eric replied to the topic How much deposit I need for investment property 200k in the forum Finance 7 years, 8 months ago

    Thank you everyone. It is really helpful. So it will be better not touch the redrawn money. or at least setup different loan accounts.cheers

  • www_eric replied to the topic How much deposit I need for investment property 200k in the forum Finance 7 years, 8 months ago

    Thank you Richard,So can I use the redraw found ($10K) as 5% deposit?Kind Regards,

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