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    Prepay interest worth doing in this case?

    Hi just wondering if someone could pleas tell me if below scenario makes sense and if it is worth prepaying interest this year given: 2014/2015 Gross income -$230k. Net - $210k. (47% tax bracket includes budget repair levy). 2015/2016 expected income - $160k (37% tax bracket) $1.2...
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    Granny Flats Perth

    I'm building on a 700sqm block. Total cost will be $130k and initial rent will be $300 week. One cost to look out for is bin hire. Council is charging $600 a year to add a bin for the GF tenant.
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    Granny Flats Perth

    Building one (2 bed 1 bath 60sq) now - 12 weeks in almost finished. Builder is going to rent it off me for 3 months and use as a display GF. Which is good so will give me time to find tenant. No bad experience yet though if you make any variation have to add 30% builders cost on top. ie I added...
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    What have you achieved this year!!

    Managed to: - Purchase IP number 4 - Build a Granny Flat on IP 4 - Sell bad choice OTP IP in Dubai - Finally get through all of Breaking Bad and Dexter.
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    Slowest off the plan build time - 9 years so far.

    No I paid 50k upfront and need to come up with 50k upon completion. So no interest paid until I need to borrow the 50k.
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    Slowest off the plan build time - 9 years so far.

    Paid 50k up front and 50k to pay on completion. Probably worth about 150k so not much gain over 9 years. Didn't have a choice but to stick around as developer was not issuing refunds and could get away with it. So on the plus side I had written it off in my head as a busted developer and total...
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    Slowest off the plan build time - 9 years so far.

    I think I must have the record - 9 years so far. Latest estimated completion date is June 2016 to take it to about 11 years from initial deposit to finish. Purchased in Dec 2005 in Dubai. http://schonproperties.net/avalondxb/ They keep coming up with excuses for the delays (GFC, Govt)...
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    Tax time, what's your rental profit?

    3 IPS. Made a grand total of $375 profit.
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    Advertising granny flat for rent before it is built?

    Thanks for the replies. All make sense. I will hold off until completed and full access.
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    Advertising granny flat for rent before it is built?

    So I am building a Granny Flat in Perth and the rental market is a bit flat at the moment. Would it be worthwhile and is it possible to start advertising it for rent a month before it is completed with the rental date to start on completion? Prospective tenants wouldn't be able to access...
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    Chinchilla - hold or run?

    I work for a major construction company working in Chinchilla and surrounds and they are starting to ramp down in the next few months. It might get busy again mid next year then again it might not and just continue to roll on but at a much slower pace with a lot less people.
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    Off the plan Dubai and capital gains tax help

    Thanks for the reply Paul. As far as I know: - There is no income tax or CGT in the UAE so there shouldn't be any issue when it comes to selling. If I sell for 150k I can do as I please with the entire amount without any issues whatsoever from UAE tax authorities. - I was out of...
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    Off the plan Dubai and capital gains tax help

    Hi Somersofters, - In Dec 2005 I purchased an apartment off the plan for investment purposes in Dubai for $100k. I was a non-resident for tax purposes when I signed the contract but became Australian resident again in 2006. - I paid $50k of the $100k from 2005-2008 in instalments with the...
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    Interest deduction got the dates wrong.

    Thanks for the reply Paul. Never thought about that but upon checking the debit and credit amounts are both on 2nd July. Oh well.
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    User Name Meanings

    mmmm If you can figure it out let me know :)
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    Interest deduction got the dates wrong.

    You added "generally". Does that mean there is a way around it? The interest was for the month of June not July. What if the bank made a mistake and charged the interest on the wrong date. Is the ATO that stringent?
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    Interest deduction got the dates wrong.

    My June mortgage interest for my investment properties was paid on 2nd July. Is there any chance I can claim this for 2013/2014 tax year? I know I know I stuffed up. My bank statement is showing 11 x monthly interest repayments for the 2013/14 tax year and I am in the highest income bracket...
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    What Hours do you Work?

    I'm a FIFO in Oil and Gas so about 80-90 hours a week for 3 weeks straight then a week off. Oh the joy :)
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    Perth Vacancies will keep rocketing

    Strange indeed. I just bumped up Glendalough townhouse $20 per week no problem and Hammond Park house went from $480 to $550 last month.
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    Settlement agent Perth - Davon West Perth

    Is there any settlement agent in Perth that does not have 30-40% discount - gotta love it as it makes you feel like your getting a good price. Why don't they just set the settlement fee at $10000 and do a 90-95% discount . My girlf recently purchased a new first house with 35% discount by a...
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