Recent content by Coen

This is what my tax accountant has told me too.

...and putting the dividends/rent into an interest bearing deposit would be an easy enough way to keep it deductible as long as you didn't draw on it for personal purposes while you wanted to keep the interest deductible.

If I get a chance to then I'm going to call the tax office today. Will post up some answers if I do.

Rental property is in my name. PPOR is in joint names. Hold shares in a development syndicate in my name. Will be reviewing this once IO loan expires in 3 years and we liquidate to pay off PPOR debt.

Am I correct in assuming that the interest is allowed to be deductible prior to the asset producing an income and also while it is producing income but once the asset is sold/no longer there then the interest is no longer deductible? E.g. Loan $50,000 to purchase shares in a property...

Reading the ATO website I tend to agree with you on that one. My accountant is on holidays until next week so I plan to run it by him then but I thought someone on here may know. Thanks Les.

That is from the ATO's "You and your shares" publication. My interpretation of that put's another spin on things. It makes me think as long as your under the impression that a dividend will be paid (note that it makes no reference of timeframe or dividend needing to be paid in that financial...

Say you take a loan for $100,000 in mid June with interest being charged monthly. Hence you pay interest on 30th June for the days in the month that the loan was drawn down. The asset purchased with the loan doesn't start producing income until the following financial year, let’s say mid July...

Same only on $150, this is in Collinsville, QLD. One weeks rent let fee and $3.50 month postage and misc. Plus GST on top of that.

Vero (as sold thru BoQ have a very very good and also cheap landlord policy, my IP is with them and I couldn't recommend them enough to people.

Correct, I am in the process of doing a deal like this now.

i believe the interest should of been given back minus break costs

I did a bit of a quick search and the only reference I could find was for companies giving gifts of less then $100 to it's employees. This is a deduction from what I can tell from what I have read. I just want to know is say a $100 gift given to a tenant a tax deduction? If not looks like...

ATM financier is not a security guard. I meant to say people who have money to put into an ATM for it to dispence out not actually fill the ATM. You can hire security to do that part if you wish. My old employer never had more then $70,000 their ATM, this is a full on bank ATM that was...

ATM solutions are looking for ATM financiers (people who fill ATMs up with cash, not actually own the machine.) they say its equal to 21% return and only 1 hour a week. Wanting about $20,000 investment. http://www.atmsol.com.au/