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Exciting times and a clear sign of Ian and Jan's credentials to allow their baby to grow up and walk away and leave home. Obviously PropertyChat is in good hands with Simon. I'm so pleased that Simon will be leading this rather than some corporate owner. I think its a sign of going onto...

I reckon PI is fairly reasonable too. My broker tells me PI policy costs are under cost pressure as some insurers have pulled back. I dread to know what that means.

A capital cost of acquisition. Non-deductible.

If you have the AUD value (ie drawn from a local account) then use that since its known. If not use monthly average (ie drawn from a UK account). If its a stream for example lets assume for a second the PM could generate a P&L for the rental income and costs that is for the year ended 30 June...

If you don't have a PPOR loan then the offset may be a trivial issue with limited benefit if its against the IP. A offset on a IP is a fairly futile exercise for some strategies. It reduces deductible interest. Owning property personally is sometimes a foolish option and in other instances...

I have many mining and resources FIFO, WA / QLD clients who are also SS users. Some IP owners and others PT devs. The location of the tax adviser isn't as important as their experience and ability to address the myriad property issues which can be simple or very complex. I have clients...

It would be subject to what these repairs are. Some can be capital in nature. eg replacing carpet. Other deductible yes. ie repainting walls. The receipts etc may assist to determine this. Even photo's if ATO query things. The property may be available to rent even while its off the market...

You are assuming that the deduction is based on the name the loan is in. It is the legal title that determines deductions. Loan can be in three names if you wanted but only the two on title would share income and deductions based on the % interest on title.

As a property focussed tax adviser I see a large range of client issues through SS. Many taxpayers over estimate or under estimate claims based on mistakes they consider don't exist. Or miss items altogether. They generally don't have full complete and details CGT info so they overpay CGT...

HIV ??? Woah. I wouldn't want it either.

There are specific SISA provisions that allow the SMSF Trustee/s to also be party to a lease / contract. Its got nothing to do with bare trusts as such although that may well address the answer too. Tip : A Custodian must be appointed in writing by the Trustee/s. All trust property held by a...

Wow - A question no SMSF trustee should be asking. A sign of further problems I forsee... - Trustee declarations and written consent - Investment strategy - Member insurances and trustee determination ? - When is the due date for the first tax return and audited reports ?

Fully lucky's place ?? Depreciation on all those beds must be so exciting. Now if they just thought about hot bedding....Chance to double the yield...

Its a bit like statistics. Did you know 86.54% of statistics are made up.

I had such an issue and the repair agent came next day and rather than repair and fiddle about it was replaced then and there. I had a Harvey Norman replacement warranty at a very minor additional cost. Same deal with Good Guys and others too. A minor investment in my view for any IP owner.

Its not intrusive. Doesn't take long. They will walk about and focus on fittings + finish. Photo's of "walls" really. Some notes. No reason to touch things and open cupboards, drawers etc. You might discuss with QS and they may accept the photo's tenants take if its done correctly.

Disgraceful waste of the planet and scare resources...I assume you have cut off your water and power at home and lead by example ? :D

Explanation : Spruikers tell mug investors they get a wholesale price to move a number of properties and any profit they make is out of that. They dont want to tell an investor they are paying for their income. Sure dev's may well offer a incentive fee but why would it be more than a REA can...

Not at all. That's asking for a problem. Also a business can only deduct expenses necessarily incurred in it earning its own income. Not yours. No private expenses, no expenses for third parties eg private rent, paying a spouse, a big arsee TV etc, interstate non-related travel etc and even...

Your lender has just displayed why they aren't allowed to give tax advice. They are 100% wrong wrong wrong. You don't want a loan that is blended. It always results in issues.