Search results

Hello I've got a property settling tomorrow, and today I conducted the pre-settlement inspection. I caught a taxi there and back. It's small bikkies I know, but is the $40 taxi fare a deductible expense? The property is not available for rent (until after it settles tomorrow) so I...

I have an IP with 2 loans against it, $300k used to purchase the IP and $120k which was used for the purchase of a PPOR. I'm looking to do a third split to purchase another IP and may go to 90% LVR, which will obviously incur LMI costs (looking to cash out about $50k) I understand the LMI...

Hi All, I've scoured the ATO site and I think I'm on the right track but would appreciate if you could confirm the following: IP purchased in 2010, rented out immediately I'm selling my PPOR now and moving into the IP. If I ever sell the IP, obviously I will pay CGT for the period...

Hello All, I have an IP that used to be my PPOR. Before I rented it out, I fixed up cracks in the walls, repainted etc. There has been a tenant in there for 4 years. I've let the tenant go as I want to renovate and then sell the property. In the past 4 years the building has shifted...

Hello SSers Looking for some advice for a mate of mine. He's just sold his PPOR, contracts have exchanged but it is not yet settled. The unit has a small outdoor area that is common property. My mate, without getting explicit approval from the owners corp, installed a floating timber...

I had an appointment in town today (Sydney) and parked in a Wilson car park in Pitt St. For 3 hours. $85 (eighty-five dollars (AUD)) Now part of me is annoyed, part of me is standing and applauding the car park owners for running a business so profitably Can anyone else beat this?

It's been answered before but just want to check in the current environment: I want to buy a PPOR with an interest-only loan. My servicability etc is excellent, I'm a high income earner. Will the banks do this? I'm with ANZ but can change if necessary. Also roughly what would LMI be...

Hi All, My accountant (a self-confessed pedant) told me yesterday that I could get into trouble with the ATO if I get audited, because of the way that I use my offset account. I have 3 loans with ANZ, with the offset account attached to one of the loans. The offset account is used as my...

Hi All, I own a ground floor unit which has a sliding door leading to a courtyard that is common property. The courtyard is at the back of the unit, and is generally not used by other residents as you have to walk all the way around the back to get there. I am investigating the possibilty...

Hi All, I've read the various threads around valuations (thanks, RightValue) but none of them provide a specific answer for me, so here goes. I have an IP "valued" at $450k, owing about $270k. I want to refinance to 80% LVR, to fund the purchase of a second IP. My question is around...

Hi All, First post, love the forum. This year is the first year my tax affairs have become more than "simple", as I converted my PPOR into an IP. I studied accountancy and although I'm not an accountant I have always done my own tax returns. However I am being advised that since I...