Recent content by Melvin257

Hi folks, Just wanted to check if a tenant pays rent via cash into bank account rather than a internet banking transfer. Is that acceptable. Will I as a landlord face any issues during Tax time? Appreciate your response. Melv.

Thanks guys, but this seems more complex that I thought...Will get in touch with HOuse of wealth....Hopefully James can help me out with this. Thanks all..

Thanks Terry, - What if I treat it as a gift ? - Why would there be tax issues if I am borrowning funds from my brother to buy a house? - I am taking an 80% loan - Didn't understand the asset protection issues ? What would be the best approach any suggestions ? Melv.

Thanks guys, - The property will be on my name and the legal document is just a formality between my brother and myself. - Can't I sell/transfer the property on the price I purchased to my brother once he is a resident so that there is no CGT only transfer price - Would interest witholding...

Thanks Coasty you are a star. Appreciate it.

Thanks Coasty, When you say the 6 year rule will start all again. Do you mean I got to live in it for another 6 years before I sell ? Or provided I get into the PPOR before 6 years from the time I moved, I will be fully exempt from GCT ? Appreciate your feedback

Thanks Coasty I am intending to only claim CGT exemption on the 2011 property when I move back in after 2 years. I am worried that I may not be able to get it. I am downsizing and moving into a smaller property and will move out in ~2 years to the 2011 property. I do not have any...

Hi all, Appreciate any guidance. -My non resident brother plans to invest in an established home in Australia for which he will trabsfer 100k to myself. I am helping him by taking the house in my name and eventually transferring in his name in 2 years once he esides here. Question - -...

Sure paul - We moved in after final completion August 1 2011, and stayed for for 7 months - Moved out on 1st of March 2012 and was renting at a neighbouring surburb ..Currently still renting..

Hi, Would appreciate if someone could help me with the below. - Build a property in 2011 and after about 7 months mvoed to a neighbouring surburb and rented the property. - Buying another property this year and want to move into it for 2 years and then rent it out. However I would like...

Hi, My brother who is a Non-resident and myself a resident of Australia, would like like to jointly buy a property. I would like to understand what would be the tax implications, if we decide to sell at a later stage. I am under the impression that if my brother buys the property by...

Hey Folks, I ahve just completed building a house which is going for investment. As you'll are aware when the house is completed, builders don;t do any landscaping. To rent the place out , i require to do a basic landscaping. I would like to know if the material used for landscaoing is...

Hi Folks, Scenario - PPOR loan - $420,000, Offset - $10,000 Projected Investment loan - $ 415000 Loan account - $ 20,000 (Withdrawn from Equity of PPOR) My understanding is we should be keeping PPOR loan account and investment account different. However I intend to deposit all income...

When is this session ?

Hi Folks, Is there a charge for these sessions...Is it a general catch up session.... Does someone facilitate this sessions. Thanks guys. Melv,.