Search results

  1. O

    Future party leader

    John Key for Aust PM
  2. O

    Asset Protection in terms of divorce

    Especially if kids are involved and/or you have greater potential to earn a higher future income than her.
  3. O

    End of an Era

    Another large forum site I've been on since the mid 2000's have site sponsors and different levels of membership (by way of donation) to help in the financial cost of running it. The site sponsors are typically those who have a business in the area of forum interest and pay on the basis that...
  4. O

    Looking for an accountant in Sydney

    Interesting. I work in law and just met with our broker regarding top up PI cover for next year. The various law societies require firms to be compulsorily covered for up to $2M . Above that you can select various layers of cover up to $100M which is picked up by various insurers worldwide...
  5. O

    Looking for an accountant in Sydney

    Accounting, like medicine, is a fairly diverse profession. Although I'm a CPA qualified accountant (CFO in an organisation rather than a practicing accountant ) with over 25 years experience I can't make a living charging clients to do tax returns. That's fair enough as tax is a very specialised...
  6. O

    Anyone remember the days before the property boom?

    Back in the late 80's was clearing out old storage space for my employer. Came across the Real Estate guide from the Sydney Morning Herald dated circa 1972. There were many properties in there that looked ridiculously cheap by 1988 standards, but this one remains vivid in my memory for some...
  7. O

    Best strata management in Sydney?

    VJ Ray - The're in Auburn and Caringbah. Don't have a bad word.
  8. O

    Who do you use for your Depreciation Schedules?

    Just ordered a schedule from Depreciator for my third property. Great service , no fuss and nice people to deal with. To use a Youi line, they get you !
  9. O

    Potential negative gearing changes

    They said that about any government who dared to bring in a consumption tax.
  10. O

    Keep or sell?

    Ignoring any CGT implications, and assuming 1. a 5% interest rate on a fully borrowed property worth $800k, 2. a sale price of $800k on the old place and 3. a 48% marginal tax rate, it would take around 4 years to make enough cash through the tax deductibility on the interest to...
  11. O

    Life After Marriage

    My advice. After the dust has settled don't rush into a relationship. Instead, join a dating site and have some fun for awhile.
  12. O

    Getting a Uni degree

    So just imagine how much more bleak the prospects would be for someone who didn't go to uni or do a trade. Like VY , uni has played a huge part in my financial success. I studied as a mature aged student. My motivation?...When doing a basic clerical payroll job in a large law firm in the 80's...
  13. O

    PPOR to future IP

    I just went through something similar. Our IP becoming a PPOR and our previous PPOR becoming an IP. We had never used the offset on the IP before as it made no sense. However when it becomes a PPOR all our offset funds (which are currently offsettting our current PPOR) will be moved to the...
  14. O

    Mindset Motivation Music

    One Bourbon, One Scotch, One Beer - George Thorogood & The Destroyers
  15. O

    If you were given $500,000. Which city would you buy in?

    Part of me says anywhere but NSW as I'm over the land tax threshhold in that state now. Then again I like to be near my investments and you can't go wrong with Sydney
  16. O

    Tax question regarding June purchased investment property

    Correct , nothing's claimable (even non capital expenditure) unless its rented, or available to rent.
  17. O

    Depreciation claimed and selling IP

    I believe the 6 year rule wont apply in his case as you must have used the place as a PPOR from date of purchase before it became an IP, not the other way around as the OP has done. CGT in this case will be on a pro rated basis based as % of the time it was an IP over total ownership usinmg...
  18. O

    Hidden cost of negative gearing

    Even without depreciation a $400k property in my area could easily be let for $450 pw ($23k p.a) and if you borrowed the lot at 5.3%, the interest cost is only $21k p.a, so you're ahead $2k to contribute to levies and rates. To be $25k in the negative would require rates to hit 12%. Now that...
  19. O

    Where to buy 650K in Sydney

    Agree. Lived there for 15 years and is a great place to live. Downside is that its a fair way out to the point it's probably closer to the Gong than it is to Sydney I now live at Menai and at $650k you may scrape into a small 3br place south of Menai Rd and east of Carter Rd in need of a...
  20. O

    % split on IP for tax

    I had a similar situation. Partner and I bought a house that would evenentually be a PPOR but was rented for the first 12 months. We put title in my name given that the property would produce a net tax loss and with me being on the top marginal rate it seemed to make perfect sense to do that...
Back
Top