Recent content by coopranos

Quicken Personal May take a little while to get used to and set up, but pretty easy after that. If you are getting your property managed, just get them to do all the expenses, then all you need is your last loan statement with your YTD interest on it and the property manager end of year...

The costs of the repairs/painting arent going to be deductible anyway, whether you rent it out first or not. It is deductible if you are restoring it to it's original condition, so whatever condition it is in when you rent it out is its original condition. So if your tenant moves in for a year...

If one partner is in a profession that has a likelihood of litigation, put it in the other partners name. Otherwise, makes no diff for a PPOR. Doubt it very much No CGT - now worries, it is a PPOR. Not sure whether the lender would go for this though Yes, no worries. An offset isnt...

Check out Steele's case, no reason interest on a loan for a reno on a rental property shouldnt be deductible from the time the loan is taken out, as long as the intention is to rent the property out in the near future.

How much extra do you expect it to be to build this thing, and how much extra rent are you going to get? Let us assume that for the purpose of the exercise there is no valuation difference from a bank between that and a normal 4x2 (as was mentioned it could be less but lets assume). Also lets...

I would also be really interested in this info, and if there are any that would lend 80% on the final estimated valuation of the development on a lo-doc loan?

Keep it as simple as possible. The properties personally I would just keep them 50/50 in your own names. Some may argue the merits of HDTs or unit trusts, probably an added expense with little benefit at this stage. I would probably set up the business running through a trust with a bucket...

As far as I can tell, that seems to be one of the dodgy loopholes available. Your depreciation reduces your cost base, therefore increasing your capital gain. Your taxable capital gain is zero due to the main residence exemption, therefore it is a possible double-dip (I havent heard that the...

Renovation: No (although may have some depreciation allowance available) Cleaner etc: if it is being rented out, no worries. If it is to clean up your renovation mess and fix the garden, no can do.

Depends on how big the fund is, how many transactions, how well you keep your books, and which accountant does your work! SMSF audit is treated pretty much as a rubber stamp at a lot of places, to the point of even having undergraduates with no experience do the full audit. Your accounts...

Hi I was just wondering if anyone knew (or perhaps was able to explain) the options available when building an investment property. Obviously you can just sign a contract with one of the bigger commercial builders (Scott Park et al), and cop the unfounded delays, extortion when variations are...

So they are politicians??

Great advice! Great way to be completely condescending and completely ignore your own advice! That is nice, good on him. The thing is though, the two are not mutually exclusive! Hermits get rich, eccentrics get rich, big spenders get rich, misers get rich, friendly people get rich, crabs...

I think he was (quite fairly) pointing out that everyone is responsible for their own decisions, for all areas of their life. You cant smoke for 10 years, get lung cancer and complain that a shop clerk shouldnt be responsible for their own health because he never did medicine at college and...

Different strokes mate, I cant see Donald Trump driving around in a Camry, Tiger Woods buying his suits from Ed Harry, or Warren Buffett wearing a 10-for-$5 watch from Bali. Dont me so judgmental mate, just because you arent impressed by these things doesnt make people with different opinions...