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Thanks Xenia for your kind words. But all the negative naysayers were pretty much what I expected here. It is par for the course when coming on a forum like this. But still worth risking to get some useful info, and I do have fairly thick skin. Cheers Seaview

Pinkboy, I will be using every cent I make in my successful business to pay the ATO. By your logic I guess minimising tax, and negative gearing and lots of other things are mooching too then. ATO hardly has a welfare mentality though, which is a shame for me. I have not even got my tax bill yet...

Dave, I DID say I am cash strapped as ATO wants my blood NOW. (Hoping to drag it out with payments over a year, but they still want a LOT up front). Otherwise we WOULD give her cash. I despise mooching off govt teet and do NOT think a worker who needs short term help between jobs should be...

You guys are a hoot. When I were a lad we lived in a shoe box, and had to lick the road clean every day. We worked 28 hours a day, and our dad murdered us in our sleep each night... and if you tell young people these days how hard it was, they won't believe you. Anyway, Falcon, the "safe"...

Sadly Mico, we had a LOT of properties and have been selling them off over the past few years to clear the toxic debt from "safe" managed funds bought before GFC.. Even worse: all the losses were in my name, and the capital gains in hubbies name, so it really hurts each time we sell. If debt...

Gosh Biz, not sure what gorgeous Castle clip is even meant to show. It went right over my very grey head. But assuming you think we are rolling in cash having made a huge capital gain, you would be WRONG. We got clobbered good in the GFC and are still digging our way out. I won't bore you with...

Hi Ace in the Hole, The Centrelink website lists amounts required on assets & income tests - but basically they deduct mortgage from the IP value to arrive at net value (equity basically) which for a single person with own home is somewhere around 200 to 250k total, after that they reduce...

My word, Dave, that is a bit harsh. I hope you never lose your job and need a bit of welfare before you get a chance to sell your IPs. Assuming you have a decent portfolio yourself, being a consultant and all. My daughter is a VERY hard worker and has paid lots of tax, and no doubt funded lots...

Hi, Is it possible to get Newstart Allowance if you own a few IPs. This is for my daughter who has been teaching overseas, and is coming back in a few months. She owns 3 negatively geared IPs, one is PPOR, though she needs all 3 to be rented out to cover loans, and would live with parents...