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There has been a few discussions on this but mainly for specific circumstances. We usually get caught into what is repair vs capital in the discussions, but not talk as much regarding the deduction for old asset being removed. Building depreciation is covered under Division 43 of the tax act...

Saw this come up. http://www.realestate.com.au/property-house-qld-morningside-119500495 A 3x2bedroom unit development that requires completion. Builder's gone bust. Anyone with experience has a perspective of remaining costs? Structural works completed, needs internal walls and...

I bought an IP in Kingston with potential for duplex under the draft logan planning scheme. Now something else requires my equity. I am willing to sell for just 10k over the cost (price plus stamp duty i paid). This is after doing significant work. I am conscious an agent will take his...

Lets say 10 people got together and bought a 300k property with 7% yield. Cash contribution of 30k+stamp duty each. So no mortgage (to protect all owners against joint liability). The yield would cover all expenses and with depreciation (with up to total $3,000 per item claimable upfront)...

What are the thoughts on claiming deduction for a kitchen that one would scrap/dispose. Say the Depreciation report valued it at $5,000. Investor puts in a new one at $15,000. Does it mean in Year one, the claim will be $5,000 + Depn on the $15,000? If yes, that would also suggest the...

I know we mostly discuss investment properties but are these 4152 suburbs in Brisbane any good to live in? Am looking to buy something in the area soon. Budget 550 to 700k. Anyone done research on growth prospects? All i know is these are 10km from cbd and bloody expensive

Would appreciate some guidance. A tenant has 4 more months to go on the fixed lease. He is now 7 days in rent arrears. I understand i can issue him notice to remedy that within 7 days. Failing that i can give him a notice to vacate within 14 days. Property in Qld. Of course will...

Is this overlay a big concern on already constructed dwellings? Understand there may be certain requirements if constructing on land that has this constraints. But do you guys consider ACID SULFATE SOILS AREA as a huge negative?

Hi Any views on Hillcrest 4118? Noticed a steady median price. What is the feel for this suburb? Looking to buy an IP there.

Hi, I am buying a house in SE Qld and the building inspector noted cracks in nearly all the brick walls. 2 window frames show a gap to the wall as well. The house is a 3 bedroom lowset. Should I run? There isn't much time to negotiate price as well - less than 24 hours from the condition...

Hi, I have seen the following sell for $440,000: http://www.realestate.com.au/property-house-qld-upper+mount+gravatt-115794111 And the following for $515,000: http://www.realestate.com.au/property-house-qld-upper+mount+gravatt-115577339 Question is, is that what Upper Mount Gravatt...

I would like to confirm my understanding on interest deductibility for tax for redraws and subsequent repayments. Please let me know if I am wrong, best explained using the following example: Illustrative example: 1. Start with Loan balance on PPOR $300k (5% interest). Interest of $15k IS...

Does anyone here have an IP in Bracken Ridge? General views welcome.

I am thinking of converting my PPOR into IP so I can myself upgrade to a better house. My question is more on the following proposal to a tenant. If I factor in a $25 per week into the rent (ie instead of $380/week, lease it for $405/week); and cover for electricity up to $300/quarter (with...

Hoping someone can throw some light on what the following means in terms of valuation: DT1 - ROAD NETWORK Found it as a constraint on pdonline for a property in Logan City Council area.

I came across someone selling base paints (Nippon, White Night and Taubmans). http://www.gumtree.com.au/s-ad/underwood/other-home-garden/massive-paint-sale-less-than-half-price/1017743069 However that person doesn't have paint mixer. Is it worth buying such paints and storing? Will...

When BCC are Plan says "Within 400 metres of XX or YY railway stations, densities of up to 25 dwellings per hectare are encouraged.": Is that distance calculated as direct line distance, or driving distance?

If a driveway slopes down from the road, and thus the front yard is below the road level, what sort of drainage suits? I am told councils do not allow connecting flow to the roofing downpipes. And it would be impossible to connect to the road storm water drains. It is also not legal to let...

I have an investment property and try and do cheap repairs as tenants will always break something anyway. Recently I explored second hand sellers, through local paper or Gumtree. How does one satisfy the invoice requirements when buying from individuals? I specifically asked the seller in...

I have a few questions regarding granny flats in Qld. 1. Which councils in Qld allow leasing out granny flats to unrelated tenants? 2. Those that do not allow, will they allow shared accommodation? If it is perfectly fine for me to share my house with others, why can't I enter into a...