Recent content by joejunemac

Managed funds Thanks CRC for your comments but our money has been in funds more than 7 years and we have not seen much return at all, I've not had much luck at all with the share market and as I said this has all been done through super or financial advisor, not luck with any of them, would...

Refused Hi All I was refused loan today with ANZ, they are looking for 30% 'ouch', there is no serviceability issue whatsoever with this, its a leverage issue. Have decided to sal sac more into smsf for the moment but cant believe this! I would be paying much less to service another IP...

Super Expert Hi All I am also pulling out of super fund managed by 'EXPERTS" I have set up a SMSF and am waiting on money being transferred now, I know the share market has collapsed but reckon the 'EXPERTS" sho0uld have known something and managed to safeguard some of this money, I also...

Hi All Since I have done some research on buying IP through smsf I cant see any benefit, i.e. no neg gearing, very high IR, very high costs for bank to check trust deeds, I know theres no tax on cap gain when you sell after retirement but thats not enough inducement for me am I missing...

Is it worth it? Hi All, thanks for your comments. I am having second thoughts now, the set up costs are very high, the interest rate is very high and cant be re-financed or fixed after you enter into it, there is no negative gearing benefits, I know cap gains wise it can be great, but who...

smsf finance Sorry more questions, about the contributions into the fund, as I said this is a new fund so will this stop them loaning the money, I can give them statements from the old fund and can prove we are still working so they know that contributions have to go in there as well as rent...

smsf finance Thanks for your comments, I will definately be trying NAB next and contacting the person Spud mentioned. In answer to the Jamie D I am purchasing in WA (Seville Grove) area already have property there. Just another question, with the personal guarantee from the Directors...

Hi All I need help, am in the process of structuring smsf trust but am having big problems getting idiots at several banks understanding that the company who is trustee for super fund wants to borrow funds for IP. Property we will be looking at is around $300,000, super fund will be...

Hi I have QS reports for my 2 x IP's, they both have some LVP and I'm having trouble with Etax, can anyone simplify? 1)I have run out of lines on LVP table, how do I get another table? 2)Opening pool bal from prev income year: Is this total cost at time of purchase (only bought this year)...

Valuations Hi Guys Thanks for the comments but does this mean that I can't have a LOC if my IP's don't come up to 80% yet so they will still be secured by my PPOR, I think they are not quite at 80% yet. I would really like this LOC behind me before I buy another IP, what else can I do ...

QS Report Hi Roz I too wasn't sure whether to get QS Report done but decided to do it after getting advice from forum members. It was well worth the money, it is set out very easy to understand and lasts for 40 years, I feel much more confident claiming depreciation now, I will always get...

E-tax Hi Gad I too am doing my own tax, mainly cos I've always had a great interest in it (I'm also a bookeeper). I agree that it's a lot of work but once the stuff is learned it is not forgotten, also I have had experience of BAD accountants in the past who actually lost me money (as well...

Hi All I need some ideas on structure for my next IP. I have 2 IP's now both secured by my PPOR, I don't have a LOC attached to my PPOR but have decided that for cash flow reasons I want one so that I'll feel more comfortable purchasing my next IP. Here's how it looks just now, any ideas...

Claiming GST component Thanks a lot Dale, I'm much happier now. Just goes to show any other newbies out there that it's worth questioning things (Iwasn't going to claim any of this). Thanks again June;)

QS Report Thanks Geoffw Yes have had QS Report done and have paid fees and will be claiming them this year, was very pleased with reports, saves a lot of work for years. Thanks for your comments Regards June