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Hi Peter, Could you put me down for 1? (I guess that will be on standby...) thanks raoul

Hi, I'd suggest checking the form you filled out in the first place when engaging the REA as PMs. It might be 30 days or more - keep reading.) I'm just filling out a PAMD Form 20a "Appointment of Agent - Letting and Property Management" which is the relevant form for residential...

Hi everyone, A quick accounting/tax question. Is anyone using CGT Assets Register to track their expenditures for buy and hold IPs so they don't have to hang on to receipts, etc for half a lifetime plus 5 years? I've just been poking around the ATO web site and found some links from main...

Hi Rolf, Thats true - but Rie's original post (which I admit I only glanced at at first) lists PPOR and an IP, so I assumed it may be relevant. I didn't spot any requirement re standalone security. Either way, I'm probably a little off-topic since her question seems more directed at LOC...

Hi I just took out 105% IO on an IP with NAB. (100% plus costs) (But, I also have another IP with them P&I loan of approx $96k on a property valued at approx $250k.) regards raoul

I can vouch for the bit about hard going! I recently bought Renton's book at Dymocks (I think) in an attempt to understand more about trusts. Be careful - a 2nd edition has just been released so make sure you don't buy the older one which was written before GST befell us. The book is a...

Aceyducey I would like to set the record straight, there AceyDucey. Bill Gates does not package his own products - he licences the right (for a hefty annual fee!) to 3rd party companies who manufacture the products for Microsoft. I know - I work for one of these companies. It is a highly...

Thanks Dale, I was looking for the correct answer to put the uncertainty out of my mind (although it would have been good had it been the other way around :D ) Your answer also matches depreciation schedules I've had done in the past.

Hi, I have a tax question regarding the start date for depreciation of building and fitout. I am sure that my accountant told me a few months ago that it is possible to start claiming depreciation from the date of sale and not from the later settlement date. However, when I spoke to him...

use classes for each IP Hi, I've been doing something similar since Quicken 4. Except, instead of creating multiple sub-categories for each of the IPs, I created "classes" for each. This way, for example, I enter the category, eg: Income:Rental Income/IP_1 The colon ":" separates...

Geoff, You're correct - I was quoting the email from AON but was too lazy to surround it with quotes Thanks for the link back to past thread - I got some useful info from there. Noddy, Thanks for link to QRI - will check them out shortly.

Hi Noddy, I just contacted AON re landlords insurance and building insurance and was quoted: We sell the Landlords Property One policy as a package for contents, public liability, rent default, malicious damage & theft including by tenants etc for $230.00 then we add the building cover...

Hi Bundy, Hmm. That would make my tax accountant wrong... He said that after calculating the capital gain from the IP I sold, 50% of the CG would go on top of my taxable income and be taxed at that marginal rate (the top rate). Hence my desire to heap up the deductions this year by paying...

Thanks for your input, but I'm sorry Brains, I don't follow you. No, I don't have a bootload of cash - I still have a home loan to pay off. However, this tax year, I sold an IP and my rough calculation is that I will have to pay $35,000 CGT. (At the moment, that money is sitting in a 100%...

That's true, but the money will be coming from a drawdown against another IP, so it will boost that loan's interest as well. So, I get a double deductable benefit. (The extra money was paid into that loan when we sold our house and moved overseas several years ago - the bank made us do that...

I have a question about something in Jan's book "More Wealth" on p171 about paying yearly interest in advance. Jan gives an example of 8% in arrears (monthly) being equivalent to 7.36% in advance when paid yearly in advance. She also states that the in advance rate should be better than that...

I stand corrected Thanks for your replies. My memory is worse than a crystal ball for accuracy... I remember the details a little better now. (I had this discussion with someone years ago and the conclusion was it is not worth it for me at that time.) From memory, if your loan is...

is loan interest on second property claimable? Hi Mike, Sorry if I'm off-base, but in your description, you mention that the 2nd property was a former home. I may be totally wrong, but my understanding is that if the purpose you took out the loan on that property was originally for PPOR...

Thanks! Thanks for your recommendations everyone. cheers raoul

Hi, We'll be travelling to the Brisbane/Gold Coast area this weekend and are hoping to find an IP. We would appreciate any recommendations for Conveyancers or Solicitors. thanks and regards raoul