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In case you haven't noticed, land tax increases by ~100% for most people. Anything from $420K-$1m unimproved value will be a 127% increase. For higher unimproved values, increase is around 80%, decreasing as you get into the higher thresholds. e.g. $2m unimproved value, land tax...

Hypothetical question - I'm curious as to what the impact would be. EDIT: I'm not talking about a freebie - I'm talking about a tax shift. So, most likely, would be an increase in the land tax rates or a broadening of the base (e.g. to include owner occupiers and other exempt categories)...

http://www.abc.net.au/news/2014-09-14/bis-figures-confirm-australian-housing-overvalued-emerging-mark/5740808 Apologies if this is a repost - just saw it this morning and thought I'd post it up.

With the threads around lately about your credit rating, it's got me thinking as to what you can do to improve it. I should have an excellent credit score as I've never missed a single payment on anything and I am very organised with all my payments - but it has occurred to me that this might...

Hi all, This is an issue that comes up somewhat frequently and I've tried to analyse it from time to time. I was just seeking some input from people on here as to what their views are. I am trying to work out whether it is better to live in one of your properties, or rent it out and rent...

Hi all, So I have a pretty awesome AMEX - fantastic card and I am very happy with it. But there are still quite a few things that I can't pay by AMEX and need to use a regular mastercard or VISA. My current card is very simple - no annual fee, but no reward points either. I'm looking for...

So when you pay a deposit into the REAs trust account for a property, do they earn the interest on it? Is this why some agents push for higher deposits? Similarly, when you transfer funds to conveyancers for settlement, do they keep the interest earned here as well? Can be a reasonable...

I'm just wondering how much cash you actually need to fund a development from start to finish (assuming you can get the required amount of finance of course). Consider the following hypothetical situation: Land: $500K Purchase costs: $25K Build: $700K Interest rate: 5% Holding period: 18...

Hi all, I'm seeking some guidance on the tax treatment (GST and CGT) of a hypothetical situation. Here are the (simplified) numbers: Land + all purchase costs = $500K Build + all other costs = $700K Total cost of development = $1.2m Say the newly developed triplex units are able to...

Hi all, Small question, but I find this quite annoying. How do you get the tenant to pay the water usage charges? With Watercorp, you can split out the bill so that the tenant gets the usage charge directly. But if you do this, you cannot pay by direct debit. Not only is this...

Hi SSers, My reno project is nearly complete and I will be looking at renting out the place as soon as possible. Floors have just received their final coat and I will be taking photos probably first thing Friday morning with the intention of putting an ad up that day. Just wondering if...

Hi SSers, So I've been doing some research on the tax treatment of maintenance costs (e.g. painting, cleaning carpets etc) on an IP prior to renting (i.e. you buy a dilapidated house and restore it to original condition). The ATO says the following: Can you claim the cost of repairs you...

Hello SSers I will be settling on IP2 in just over 5 weeks time (5th May). The property needs a bit of work (mostly cosmetic), although the biggest thing that needs doing is an entirely new kitchen. I am doing some research as to what is involved and what sort of things I should be...

http://www.affordablebuildinginspections.com/ Looks pretty damn cheap.

Any recommendations? I used Resicert before, but I'm pretty sure I overpaid. Looking for something a little simpler. Don't want to fork out nearly $800 again for building and pest inspection.

Hi all, Just wondering if anybody has a reliable, well-priced conveyancer? I've been quoted at around the $1,400 mark for a property sub $300K - this seems pretty high to me... Not a first home owner and should be a pretty straight forward process. Thoughts?

Hi all, I recently settled on my first IP - an old house in Pinjarra (circa 1945). I've been doing quite a bit of research on the tax treatment of various aspects of the property - but one thing I am still stuck on is depreciation. As I understand it, I can't depreciate the building as...

Hi all, So I've just received my settlement documentation with the pro rated water and council rates. This got me thinking - what is the best way to tax deduct this at tax time? 1) Simply the actual amount paid in the year; or 2) An accruals amount (so the calculated amount attributable...

Hi all, I'm aware that conveyancing costs are included in the cost base of your property for tax purposes - but I'm just wondering if conveyancing costs includes all the disbursements and enquiry fees, or if it strictly refers to the settlement fee charged by the agent. e.g. Say your total...

Hi all, I'm trying to understand how the fees charged by settlement agents works, can anyone clarify or does anyone have any inside knowledge? My bill looks like this (with my commentary as to how I think they bill you next to it: Costs & Fees Settlement fee (just whatever they want to...