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  1. Ross

    Claiming Depn & 2.5% Cap Allwnce

    Just want to confirm where you have rented out your PPOR and claiming the 6 year CGT exemption is there any issues with claiming depreciation on Fixtures/Fittings and Capital Allowance on the build cost ? Normally, as I understand, these deductions would reduce your cost base for CGT when it...
  2. Ross

    six year CGT exemption clarification

    Thanks Terry and Paul, Yes I downloaded the 2014 NSW OSR Land Tax Booklet and got very excited when I read about a land tax concession of up to 6 years where you move out and essentially rent elsewhere. It did then go on to say the concession only applies each calender year where you have...
  3. Ross

    six year CGT exemption clarification

    Just to clarify, if you move out of (what has always been) your home/PPOR, rent it out and go and then rent elsewhere do you a Land tax exemption, same way you get a 6 yr CGT exemption ?
  4. Ross

    six year CGT exemption clarification

    Along similar lines to the above, was wanting clarification if my possible future scenario would give me the 6 year CGT exemption: -Looking to move out of Sydney PPOR (always been our PPOR since purchase in 2008); -Rent out PPOR; -Move interstate with family and rent a house; -I currently...
  5. Ross

    Confirming CGT calc

    Much appreciated Dan :D
  6. Ross

    Confirming CGT calc

    Looking at selling one of our IP's, rough numbers and dates as follows: -Buy unit Nov 03, cost $450k and live in for 12 months -Move out and rent for approx 2 years until Oct 06. Not claiming PPOR elsewhere during this period. - Move back in Oct 06, do $25k reno and live in for 18...
  7. Ross

    Inner West - I finally get it

  8. Ross

    Best makeover for a courtyard

    Seeka, This is one of my rentals, marbau decking to bring level up to same as internally, inexpensive bamboo screening and low maintenance pot plants from Bunnings. Ross :D
  9. Ross

    Selling property to relative

    Superoink, We did this a few years ago and used the family solicitor/conveyencor to do the paperwork. In NSW familuy transfers require a licensed valuation to be done first (may cost around $300) and you must pay stamp duty on the transfer on the valuation amount (at a minimum). I imagine...
  10. Ross

    Accountant

    J&R, These guys were recommended to me and I did meet them for an initial consultation. Ended up moving to Sydney not long after so did not take it any further. I believe it was Llew Eynon I dealt with, he has a massive property portfolio himself. http://www.lgas.com.au/contact_us.php...
  11. Ross

    My little Mona Vale development update - Phase 3

    Gday Michael, it's been a few years since I met you at the Forum in St Leonards. I don't know how you manage to find the time to post between work, family and developing.....when do you sleep :rolleyes: I know its stopped me posting much the last couple years. We're half way through our...
  12. Ross

    Adelaide Bank

    JIT I have my home loan with AB. Loan is split into 3 separate facilities each with and offset. 2 of the 3 are fixed. No probs, all good :). Each offset charges $10 monthly fee but worth it for the flexibility I dont use AB though for my day to day banking which I imagine could prove...
  13. Ross

    how much should my accountant/or your charge ?

    Quitrattace, I have a HDT and 2 IPs, paid around $1,150 last year from memory which also included a CGT schedule for property I sold. I would have thought anything above $2k for you sounds high. Exactly the same deal as you in that in that I prepare everything for them, literally a review...
  14. Ross

    Perth suburbs near CBD

    Kam, I've actually done the reverse of what you are doing, am from Perth but moved to Sydney 4 years ago ( wifey dragged me over to be near her family ) Anyway, one of my rentals is in Leederville (apartment), we lived there for a few years before moving over and loved it ( 2kms to the city...
  15. Ross

    can't wait until the elections are over!

    Agreed! I was over this election the day it was announced and we've still got another 4 weeks of hearing all about it everywhere we turn :(
  16. Ross

    Can I claim outright ?

    Dishwasher- $700.00 Oven- $525.00 Replace carpet to 3 bedrooms- $1,309.00 Blinds to several windows - $1,210.00 Im guessing the dishwasher and Oven are Low Value Pool ? With the carpets if they are just replacing "back to original state" ie not an improvement can I claim 100% ? If...
  17. Ross

    Deductibility of Income Protection insurance

    Can somebody please confirm this is deductible where premiums are paid through your super :rolleyes: Is it relevant how its paid ? My guess in no just want clarification :D Ross
  18. Ross

    5 year fixed rates thread

    Adelaide bank does, I fixed back in April with them on my 3 loans all off which have an offset :D
  19. Ross

    good accountant in illawarra area

    Nick Moustacas - Strategic Wealth Management is in Hurstville which aint that far if its a once a year visit :D
  20. Ross

    5 year fixed rates thread

    St George increased their 5yr rate from 5.94% to 6.34% as of today Have we seen the bottom of the fixed rate cycle :rolleyes: Pretty happy that I locked in some of my Adelaide bank and STG facilities a couple weeks back :D Ross
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