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  1. cocka2

    Prime cost items, new build

    Hi guys, My builder recently submitted a claim for stage 5, one before completion. According to contact, at this stage: "All ceramic tiling installed, prime cost items installed, painting complete" When I asked the builder about prime cost items, he mentioned since all the items in...
  2. cocka2

    Withdraw from offset of PPR and claim interest for IP

    Hi Guys, I have an offset account established for my IO loan for my PPR. I am thinking of withdrawing 50k from an offset account. I believe the extra interest that I would be charged for this transaction should be fully deductible? I would like to know how such a transaction should be...
  3. cocka2

    interest in advance for IP but moving in after six months

    Hi guys, we are in or process of purchasing an owner occupied property but for the first six months we want to rent it,as an investment property to recover some of the initial costs through the taxes. and then after six months we move in. I am thinking of getting fixed rate for two years...
  4. cocka2

    Changing the contract after exchange before settlement

    Hi all, I have a question. I am purchasing a property, initially I indicated that I don't want to receive 7k government grant for first home owners. I would like to know if it is possible to change this now, after exchange, before settlement, or is it too late ? Does it cost something...
  5. cocka2

    Two town houses (Owner occupied and IP) or a large house (Owner occupied)

    Hi all, I've got around 120k in cash in a high interest saving account. I am thinking of buying a property as I am renting currently. I appreciate your opinion whether it makes sense to buy one house for like 550k by depositing %20 (to avoid LMI) or should I consider buying two smaller...
  6. cocka2

    No building inspection report for Units !

    Hi All, I am interested in a unit which is 40 years old. I asked for building inspection report, the agent is telling me that for units, I should ask for body corporate notes and not building inspection report. He mentioned, building inspection is only available for houses and not...
  7. cocka2

    IP buy, hesitating ...

    Dear All, I am interested to buy a rental unit in ACT. The building is built 40 years ago. I asked for building inspection documents, the agent provided me with body corporate notes for the last 2 years. The unit is vacant at the moment. The unit floor is covered by carpet; but at some...
  8. cocka2

    First home buyer grant - Second property

    Hi All, I was wondering, If the first property I buy is an IP, can I still claim the first home owner grant for my second property which I am going to live in ? Cheers,
  9. cocka2

    Getting back the stamp duty for investment properties after 6 months

    Hi All, A friend of mine told me that if one buys a property for investment, one can receive back the stamp duty (in ACT) after 6 months of renting the property. Could you please let me know if this is really the case and what was your experience? Thanks,
  10. cocka2

    First home buyer grant - ACT

    hi All, Is there any income test for being eligible for the first home buyer grant in ACT ? Thanks,
  11. cocka2

    income tax gain of investment property

    Hi All, I am thinking of buying my first investment property and I would like to make sure I do understand tax saving benefit and negative gearing correctly. I would like to present a sample scenario for the first year (negative gearing and claiming interest expenses). Gross Income...
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