Recent content by Tom Alaka

Vale Somersoft Forums!

Perhaps to make it easier/clearer on you/ your accountant and ATO going forward - for the loan you are intending to debt recycle - ask your bank to formally split the loan into 2 separate loans as a first step in the process: So 1 loan of $100k becomes 2 loans $50k each. Pay down one loan...

MSN MoneyCentral Stock Quotes Add-In for Excel Hey All, Does anyone have a copy of the above old Microsoft excel add in ? Need for a new install, as I still use it but cant find the base executable on my old system (yes works for me still on excel2010, though I find that if I overload a...

Thats a great xls sheet, i have been using a version of it for several years now! Have sampled many other options, though for me this does the job best. I believe that Corsa may have been the original author/ postee? Does Corsa post here anymore?

no i dont believe so, only what the insurance paid you out for in cash.

Ah sorry has the OP called out that he/she doesnt not yet own the property?

Suggest seeking formal tax advice, though noting per the ATOs rental properties guide (linked below) at page 12 (note pasted text below), that you can claim for interest on yet to be built IP. One would think that this should also flow for travel expenses in the circumstances...

Any insurance payout received should be included in your assessable income. You can claim cost of the actual repairs as deductions to an extent - if substantial of structural repairs you cannot (and anything additional to repair work you cannot), these would be capital in nature and claimed...

Wasnt there a case where a chap could claim deductions based on intended future use to build an IP for rent? edit - found a relevant thread - http://somersoft.com/forums/showthread.php?t=49433&highlight=block+land+deduction

Why not: 1. split the PPOR into 2 loans - 550k and 50k loans; 2. Pay down the 50k loan to 0 from the offset; 3. You can now use this 50k loan for income producing purposes, and the interest will be tax deductible; 4. pour the income into the offset account; and 5. Rinse and repeat from step...

With WBC, we have just over $1m in variable loan (and $500k in fixed). LVR is around 83% overall. Best discount I have been able to get is 90bp.:mad: (Edit - we are existing 4-5 yr WBC customers)

+1 to everything Jaycee said. Also profit stops doesnt necessarily mean having to sell at the relevant profit point. Rather it can be to rethink the position in line with your strategy ( ie why has it gone up so much? Is there anything behind it? is the run running out of steam? whats the...

Dont forget stop losses! Whatever your strategy, the number one thing to implement in my humble view is the setting of stop losses & profit stops! Equally important whether you are any type of trader or investor. The question of what stop loss/profit stop strategy is right for you is not so...

Thanks HandyAndy. The product used appears to be DURO MASTIC™ Non Slip (a modified Duro Mastic AC, used to be called Durocoat AC). Its productsheet on the site does state that it is for "LIGHT foot traffic", though query whether the intent for is for ad hoc light traffic to check for...

Hi All, Our IP apartment complex roof is flat and owners with top level apartments (such as myself), each have an uncovered courtyard area on the roof to themselves (freehold not common property and a big space equal to the size of the covered area of the unit below it). The complex is...