Recent content by HomesForAll

Hi, Was hoping I could check what my accountant is telling me. Buying a ppor in Perth. Accountant tells us my wife and I are both in high-risk jobs for litigation and that we need to purchase it through a trust to protect it from some imagined sinister threat. Here are my concerns: 1. Would...

thankyou CoastyMike!

Sorry, the scenario did not look realistic because I made it up to understand the basics. My actual scenario is as follows. I have a couple of rental properties. I struggle to keep track of all the money I spend on them. What I do spend on them for maintenance or repairs I claim in the year...

Hi, Quick question (couldn't find after searching the site). If I buy a block for $100,000, build a house on it costing $500,000 and sell it after 2 years for $700,000 how much capital gains tax do I pay? Is the capital gain $100,000? And if I had the place repainted after a year costing...

Hi. Was hoping someone could advise me what expenses could be deducted or depreciated in the following example. If you have a rural investment property, say 5 acres, and you rent it out furnished, then the buildings and contents can be depreciated. If you supply a lawn mower that can be...

Hi, Hoping someone can give me an idea of how the banks will view rural land. Basically someone is subdividing off part of their farm, about 10 acres, on the outskirts of a country town but within 5 km of the the main street. Town of less than 1000 people. I am hoping to purchase as vacant...

Advice Hi, When I finished my training, an old boss pulled me aside and gave me some advice. He said my income was enough to be comfortable without having to take any risks and that the only people he had seen that got themselves in financial difficulty had done so by over-extending themselves...

Thankyou for your responses, excellent points. I guess the major failing was purchasing with the intent to live in the property, so it was not viewed through the prism of a business transaction initially. The initial building inspection did not identify the roof problem, but after two years of...

Hi everyone, Want to contribute to the experiences shared on this site. Constructive comments only please... I have held an investment property in victoria for 9 years, and have just done the sums to see how I have done… Here is what I found. I started with $35000 saved (my initial...

Many medical specialists continue to work late into their lives because they love what they do. Financial renumeration is often irrelevant to them.