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And the relevant Q&A to this particular forum topic ... Question Many accountants don't get around to working out a trust's income until well after the end of an income year. Does the change in practice mean that they will have to have the trust accounts prepared by 30 June? Response No...

Hi Sez, Yes my property is in country VIC. It has a separate meter and the usage is billed to the tenant; while the sewerage/service charges are billed to me (as the landlord). So in this case, I am not entitled to the concession I guess ?

Hi, I have a mate who is renting out an IP to a senior tenant and he is enjoying seniors concession on the Sewer/Water service charges as well (He is not a senior). I am also renting out an IP to a senior tenant but I currently don't get the discount though. So I was thinking of calling up...

Not sure about the best, but AAMI was the cheapest amongst the big brands for me when I last bought one.

Hi my fellow forumites, I have a predicament (partly of my own making) with my body corporate fees. I just moved into a new townhouse in a new development (1 of 4) and a body corporate was just set up. We have received our 1st fee notice and was quite shocked. So, I would appreciate...

Thanks all .. I wasn't sure if all the running costs were deductible as some of delay is due to capital improvements (and not repairs due to renting it out).

Hi all, A tenant will be vacating my IP soon and I plan to do some repair work as well as a bit of renovating. I have a full time job so I expect everything to be in about 2-3 months. Would I be able to claim tax deductions (e.g. loan interest) for the repair/reno period even though it...

Hi all, I am selling one of my investment properties and have received a decent offer but with a subject to sale of his PPOR clause. His PPOR is listed for auction in 3 weeks and my ppty agent is confident that it will be sold on the day (or a cynic would state that's what any agent would...

I spoke to my broker / lawyer today and they suggest trying to move the settlement date as well. Hope the buyer hasn't made any concrete plans and is willing to be a wee-bit flexible. Will post an update.

Hi all, I was thinking of installing a staircase with wooden steps and glass side panel in my 2 story townhouse. The builder came back with a quote of just under $10K ! Almost fell off my chair as I expected less. Maybe my expectations are unrealistic (I've never had this done before)...

Hi all, My first time moving PPOR and I think I made a boo-boo. I bought a new place which settles on 15/1. Then I sold my current PPOR with settlement on 31/1 - thinking that I would give myself 2 weeks to move leisurely (didn't mind paying double interest for a while) to the new home...

I go there relatively frequently weather permitting. It is newly renovated, undiscovered (i.e. not too crowded unlike St Kilda), close to the city and is a very popular para-sailing venue. But most of all I like it because it is very family friendly - very nice park right opposite the beach...

Here's a recent ABC news article on the rental market in the region ... http://www.abc.net.au/news/stories/2010/07/07/2946644.htm

But if you have been putting in and taking out money for non-deductible expenses (day to day living costs), not the full amount in the LOC will be tax-deductible and the interest deductions will have to be pro-rated.

Yes it is that near .. :) .. and even faster to get to the city now with the new Deer Park Bypass ... I am living in CS so a bit bias but capital growth has been very good ... more than double the value in 7 years so it is consistent with the target mentioned in many IP books ... in fact, it...

Hmm .. that may not be so bad considering we bought the property fairly recently. Weighing against the benefit of being able to tax deduct the running costs (incl interest) at a much higher tax bracket, the legal costs might be worthwhile. How do I assess a selling price that will be fair in...

I own an IP with my wife as joint tenants and currently we have a loan on it with both our names. So at tax time, we have to split the interest 50/50 when we are calculating our interest deductions. However, if we refinance the IP loan into a single name (myself since I am the higher income...

Don't you still have to pay the amount of Aussie tax exceeding the Singapore tax ? For example, if your Aussie tax rate is 35% and your Singapore income was already taxed at 15%, you will still need to pay 20% tax on the amount the income ?

If I set up some investments / income stream overseas with NO intention of bringing the $$ back to Australia, do I need to report it as income earned ?

I feel that Deer Park presents more opportunity for capital growth compared to Point Cook for the following reasons : - It is an established suburb close to all the facilities you would expect (i.e. big shopping centres, shopping strips, schools, hospital, churches, etc) - Great access to the...