Search results

Leasing and Managing Authority in Property Managemnt What is meant by "Security Deposit" that's mentioned in a Property Management Authority form? The form I am looking at says one calendar months rent. Is this referring to the rental bond that a tenant has to make or something different?

Fortunately, i git this home with a tenant on.

Fyi i bought this home only this week and it was the first such experience i qm having. What i meant was if the stamp duty i paid can be deducted at the next tax return? Cheers

Stamp duty My accountant said that the stamp duty i paid on purchase of this invest,emt property in Victoria cannot be deducted. Is that right? And also how would it be for the landlord home and contents insurance.?

Say twice a year, is that acceptable

Thank you, i can do that. Is there a limit of visits we can make per year?

By the way this is a bit different question. I will be travelling to Melbourne from tasmania to inspect my investment home . This is my first visit after i purchase (2 weeks only). I will fly to Melbourne friday night , hire a car, stay in hotel the friday night. Go to property next day...

Actually, i did an estimation of tax returns with my accountant. The difference in the tax return between having and not having an investment home worked out to be less by $4000. Although i am taxed 4k less, the expenses that i would have met out of my pocket ( as interest, rates, water...

Thank you Peter, how valuable your advice has been.

Terry i was told that, any tax returns can be claimed with my fortnightly wages instead of waiting for 1 year until tax returns are done. How can this arrangement made?

Thanks Terry i am learning from all this. So, did your working base on the figures i gave you? If so, the LMI part assumed by you is 5000, is that right? Finally, what is this 50% discount that you have applied?

Fir example, let me say an investment house was bought for 300,000 and the toatal borrowing from bank accounted was 330,000 fir this purchase. Say this included stamp duty as well as LMI of 15000. Ok then in the next 5 years and in stages i deduct that LMI every year when I did my tax...

Oh that's very good. Many thanks for enlightening me on this. I was thinking if i should by the property incurring LMI or not. It doesn't seem to be of disadvantage, isn't it.

Lets say i will sell in the 7th year. ( pl excuse me, this is is the first home i am buying. The lmi is worked out as 12000. I am wondering if this is worthwhile getting. If i can claim back during tax returns, then is good. But then if selling after about 7-10 years will i have to pay that...

I understand the any LMI incurred at borrowing money from the bank for an investment home could be deducted from tax within a period of 5 years. Is this correct? Secondly, the day i sell this house have i git to pay back the deducucted taxes against the LMI?