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How do you get invoiced for it yearly? I was told it is not possible.

I have made a new file, created a myGov account and downloaded information from myGov (albiet limited to carryover capital losses from 2013) without any trouble.

ETax 2014 is now available on the ATO website.

Ensuring everything runs smoothly (and avoiding delays) is my advice for keeping down costs and ensuring a stress free development. 1. Design Plans: Make sure you are happy with the plans. Try and get as much included in a fixed price contract as possible (eg. painting, double power points...

But what if you can't make profit straight away - say, because you need to construct a rentable building before generating income. Or if a profitable (cash flow positive) rental becomes loss making (cash flow negative) because interest rates rise from 5% to 8% or there is an extended period...

Negative gearing is not about losing money and not paying any tax. It is a way of offsetting the costs of investment / making a profit. It helps you hold/fund an investment until capital gains are realised or an investment becomes cash flow positive. For example. Say the loan amount is...

Sent you a PM.

I'll show you one day if our FIFO breaks coincide. I have hours to spare when I'm on my breaks. So true. The stories going around when I started were 'buy a triplex block, demolish, build three units, sell two, get one free to live in'. Things aren't that easy.

MTR: 1. Yes it was a regional town in Western Australia. 2. The equity gained through development without taking into account selling fees/taxation issues was 24% on a conservative pre-construction bank ordered valuations which fell to 11% on bank ordered post-construction valuations. These...

Blacky, I've read your story cover to cover a few times now and have done it again at 0400 hrs in the morning. I relate to your story and the lessons learnt - especially (1), (2), (3) and (4) - copied below. My issues however (in contrast to yours) are all post development. I finished my 5...

BUMP - Waiting for Brett's reply.

Where I live (Northern Australia) the common construction materials are steel framed houses with colourbond walls and roofs with no gutters. It is not uncommon common to see houses built from start to finish in 9 months (including the time taken to lodge of building plans with council!). In...

Reading this thread and Westminster's makes me realise there is a group of people who have done developments in Perth. I'm keen to catch up for lunch next time it is organised. And Blacky I'm happy to pop by and take photos for you as well - I live around the area.

Thanks very much. Looks like 4.99% 2 yrs is the goer.

I was asking about the 3 yr Westpac rate being 5.29%...are you talking about the CBA matching the Westpac 2 yr rate?

I can't see that rate on their website. Is that the Professional Package rate?

Try Gnucash. It is free. Can make categories and generate charts/graphs.

I can only see a 3 Yr Rate of 6.39% - 0.2% Discount for PAP. Is the 6.09% only offered to selected WBC customers?

I've checked my policies. HBF Landlords (For an IP): Does not provide for temporary accomodation for tenants. Comminsure Contents (For a property I am renting): Covers temporary accomodation if insurer deems property uninhabitable. Westpac Landlords: Does not provide for temporary...

BV is correct. However it is not a variation you lodge with the ATO, it is an amendment. Write to the ATO and ask them to amend your tax return as per your instructions. It is the same thing you do if you find you have some undeclared income once your tax return has been submitted for the...