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tax on IP sale OK...thankyou...it kinda stands to reason. Not sure what the 2 hectare angle is...will check..but cheers to you all.

tax on IP sale Hi, we haven't lived in it...had it rented from the first opportunity after inherited.. Pop passed in 2008...he bought in 1984/5...under 30k...value in 2008 @245k...rented till now..value now under 220k..more or less...under 3 acres.. Cheers

tax on IP sale Thanks for everyone's input.. OK so if Pop passes his PPOR to us...then we turn it into an IP..and now 6 years down the track...we try & sell...and the value is less than when we started...CGT Loss..? Cheers Mike

tax on IP sale Thanks... I will try & check the date that Pop bought it..might be prior to 1986..hope so..

tax on IP sale Thanks...we had agent appraisal at the time $245k...then pro valued 2013..$195k Now..somewhat less than 200k....if sell for eg.200k..I get 100k...not counting costs.. Then the 100k goes on top of my taxable income..eg 100k+ 100k..= 200k taxable income.. Correct?..not...

tax on IP sale Thanks for both replies...own with relative 50/50 ..inherited in 2008..worth 20% less now....rural. Cheers Mike

Hi, Are the proceeds of an IP sale added to one's income?..if so... Is there a solution to avoid this legally?..add to super?..buy another investment?...any advice appreciated.. Cheers Mike

Thanks for all the replies and advice....I'll see where I go from here and let you know.

Thanks Guys. We had used him for other stuff, and he was confident he could do the job..we trusted him...wasn't a lot of Plumbing involved - mainly Tiling, painting. I've had the sparky out and yet the shock problem persists. We were quoted 5-6k to redo the shower..fair? Thanks again.

Handy-unhandy-man Hi Guys, Thanks for your replies - He was cheaper - H men usually are..Tradies are hard to come by in the country..he's well known to all the agents and most people like him...he was doing lots of work for us at the property..all paid quickly too.. so, I can't...

Hi, 2 years ago I had a handyman renovate my Rural IP bathroom/shower...This person had an ABN no. and I paid all my bills via cheque or Bank Transfer. The Shower recess started showing signs of leaking within 6 months. The Handyman refuses to return...ignores my emails/texts.. The...

Also, if you persist in selling..get some photos of the Kitchen/bathroom/laundry/garage these are the areas that sell...women want the first 3 and men need a shed..so, show'em off.

rent it If your agent isn't giving you feedback on what the market is doing/thinking/planning...he's not a good agent. If there's no market..(and you can check this by driving around and checking the 'for sale'/'sold' signs)..think about renting it out whilst you go & try living in...

Us Properties Youtube is a 'good source' for checking out U.S. properties...there seems to be lots of houses/units <20k...bargains..but will they rent? check out the guy called shea in Detroit... he finds houses/renovates/manages/collects debts etc etc...all the legal stuff is a bit...

ghost bidders At Auction..in most cases, the property has a reserve price..until this is reached, the house won't sell..so, does it really matter how the bidding gets there, so long as it gets there..this depends on how many people show up, how many dummies are planted by the vendors/agents-...

rental/tax Ok..the book by Mrs. Lomas is good..it covers multiple property portfolio scenarios & emphasises finding positive cash flow properties...a good read. Also picked up : Taxation pocket guide by Jimmy B. Prince for Australian property investors..covers tax laws.. and, Rental...

rental tax Thanks all, the property was inherited...i agree to the premise - that you may lose one way and gain the other.. I went out and borrowed some books from the Library..rental /tax/investment...one by a Margaret Lomas looks interesting- '' How to maximise your property...

rental tax Thanks for all your comments... If Repair brings something back (restores) to original conditon.. then restoring a fireplace - (un-bricking..unclogging...sweeping), should be classed as a repair....yes? sorry to labour the point.

As I see it (being an ex agent)...You are probably worth @ $660k..what is the motivation to sell?...any 'low' offers in this range is a way of conditioning you to the true market...I like the idea of using friends to visit the open and glean info- it's a game..play it. The second agent...

Thanks all, The Loc I have is a variable P & I with CBA. I spoke to the bank and they are really just concerned with the Interest being paid...therefore there is no stated 'minimum' mthly payment...however if you didn't make a payment for a few months they'd be on to you....so, in fact...