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$25,881 less GST. Pooled depreciation at 15% gets to $19,998 for the pool write off. Catch is that you cant have any other assets in the pool or it would be over the limit?

Thanks for the responses guys. Terry, the ASIC link is definitely the most detailed source that I've been able to find. As I mentioned before it does seem that it comes under the accountants discretion of how they define gross income. I had a search for case law on the topic but most of it...

So after some additional reading, gross income isn't actually defined anywhere. It is up to the accounants judgement in how they apply the corporations act definition. Can any accountants who have signed off these certificates advise how they have treated gross income?

Sorry Terry, I did mean to say the corporations act not ASIC, the pages you linked was where I had my information from. In the future I'd like to be classified as a wholesale investor PropertyUnity, nowhere near that amount now. The question still stands though, it refers to "net assets"...

Hi Guys Quick question for the accounting experts out there in relation to the definition of a sophisticated or wholesale investor. It's defined by ASIC as net assets of $2.5mil or "gross income" of $250 for the previous two years. Gross income is given its ordinary meaning as it is not...

Difference would be 0.63% x ( 1 - marginal tax rate) x cash available for savings or offset per year. E.g if ur tax rate was 30 % and u had 100k to place somewhere the difference would be approx $440 over a year.

Perth pm's charge much higher then Sydney. These two agencys have pretty standard fees here. Total up all of the payments you would pay in a year to agency two eg letting fees, inspections etc etc and you can often get up to 18% or so of the rent! Depending on service I would go with option...

Sorry but you have your figures wrong. You are receiving a 10+ yield on the purchase price, not the current market value. On current market value im sure your yields will be under 10%. If you are offering people 10% on there investment which at 50% x 2 = 100% of the investment cost you...

It really depends on if your tax returns have anything in them that is likely to trigger an ATO audit at some stage. Currently the ATO is performing risk reviews of high net worth individauls (over 30 mil wealth?) If the review finds any points of note an audit will follow. Well worth it in...

Chiming in for my version of the secret.. The secret is working out what works for YOU personally, and rinsing an repeating what works for you. Seachange has a strategy that works for him, rixter has a strategy that works for him, the wife has a strategy that works for her and buffet has...

Hey MTR Off the top of my head the margin scheme will not apply if you have purchased the land from a mum/dad owner / investor as they generally would not be registered for gst in the first instance hence no margin to work with? (Short non accounting answer typed on my phone) :)

Hey all Just a quick post to see if people still recommend Allen realestate for a BA in brisbane. There was a topic in 2011 where everyone recommended him. Has anything changed since then? Cheers

Unsure what you are asking here Wattleldo, the simple answer is that you can take six momths off if you have access to enough cash to meet all of your expenses for 6 months. The same principle applies whether you are renting or own your own ppor, you just need the cash to make the required...

Hi Cashflows Im a bit confused how this fits in with your strategy. $150 per week is almost 8k pa negative geared. This will greatly reduce your borrowing capacity in the future and reduce further deposits that you can save. Why have you selected this property over any other cashflow...

TMNT Im confused at why you are using the 260k loan amount in your calculations... with the original loan amount + renovations im assuming the property would be cash flow neutral? The interest on the 50k that you draw out should really be allocated to whichever property / shares you...

Hey MTR It seems like quite a few people on the forum advocate the benefits of a positive attitude and frame of mind. Maybe they are on to something ;). Depending on how I'm going I will be looking at developing in the future, maybe to help get those 10 properties :). I'm currently...

Hi Greg Thanks for the detailed reply :) Looking to purchase the first few in WA as there seems to have been decent opportunities in the past year / now. The land tax rates here are pretty generous which is a bonus. After that I'll be aiming to buy in whatever state looks to be starting a...

Thanks for the great post HiEquity To be honest, the estimated capital growth on the commercial properties was a non-event in my eyes. At the moment with little experience I'm unable to state what sort of growth is possible with commercial. The aim was to grow enough equity through residential...

Pinkboy I've done quick calculations for Comm IP#1 based upon a 7% interest rate with 800k at 7% interest only (Cash out) and 1m at 7% principle and interest. The first two years would be a net cash loss of $11,000 and $4,880 with the third year approx neutral. By the time I hit 40 the...

Thanks for the responses guys. All of the points will be taken on board. In general the plan is to work hard for the next 6 years to create the largest asset base possible. Ill be on the lookout for ways to create the equity such as developments and renos in this time. 50m by 40 sounds...