tax

  1. Kent Cliffe

    Win for Negative Gearing

    http://www.wabusinessnews.com.au/article/Housing-crisis-negative-gearing-will-stay?utm_source=DBA&utm_medium=email&utm_campaign=article_click Great to see some people are starting to realize this is actually a rent subsidy and will stick around!
  2. E

    How capital gain calculated for subdivision?

    I need you advice to structure my loan, depending on how CGT is calculated. My PPOR has just been subdivided. There is an existing house in the front. I will live in the existing house and new house will become an investment property. I wonder how the capital gain is calculated when the IP is...
  3. M

    FBT on Novated Vehicle

    Sorry if this isnt the right place to post this - just have a question on FBT liablity on my novated vehicle. My employer said there has been a shortfall in payments for FBT in 2012 tax year primary due to the valuation of the vehicle.... What happened was: When i joined my employee the...
  4. S

    Money from Tax Returns - where should it go?

    Hi, SITUATION: I am acquiring an Investment Property (settlement due in May2012). I have taken a Fixed Rate I/O loan (@ 95% LVR) that allows advance payment of annual interest. This does not allow any extra repayment of more than 10K/year. Meaning, I cannot put my rental income (26K/year) in...
  5. S

    Tax deductions - Interest in Advance

    Hi, I am in the process of setting up a Fix rate Interest only home loan that allows advance payment of annual interest. While I am aware of the benefits, I am not sure about how (and what accounts) to receive the rental income so that it does not become idle money for the year (not...
  6. H

    Replacing septic system of Investment property-Are there ANY Tax benefits? If so how?

    Hi everyone, I am a long time memeber i havent been on for ages and forgot my username and password! So this is post #1 under my new username! Just wondering if anyone can give me some info. We have an 'investment' property on QLDs Sunshine Coast and have recently been advised that the...
  7. J

    Older Property: is depreciation schedule worthwhile?

    hi all... probably a silly question. Just bought an IP and found out it is 33 yrs old (nice bonus as we hadn't expected any depreciable value left). Built 1979. Can anyone advise how a quantity surveyor woudl calculate its original construction cost? I assume it was quite cheap to build in...
  8. R

    Building a discounted new home rentback to builder for $1 a week - tax implications?

    What are the taxation implications of building a new home at a large discount, in return for allowing the builder to rent it back for use as a display home for 18 months at $1 per week? I've been told I can't claim the normal full tax deductions as it is an intentionally loss-making venture...
  9. S

    Regular payments to Investment loan

    Regular payments to IO Investment loan Hi, I'm a new to prop investing and I'm thinking about making fortnightly payments to my Interest Only Investment loan to reduce the amount of interest charged on it to a point where I can manage the payments comfortably. Yes I know you are probably...
  10. O

    Owner builder valuation for tax purposes

    Hi, I have built a unit (owner builder) at the front of my existing residence with the aim of strata titling both properties and then selling the original residence (lived there for 12 years) and renting out the new unit as a investment. We then plan to buy a PPOR in a different suburb. I...
  11. Alex P Keaton

    Tax Return Relief! $$$

    I'll be getting a $4,200 tax return very soon! I feel a huge weight has been lifted off my shoulders! I was struggling for a few months there but now with this return I am not sinking anymore. I feel this is my 2nd chance to start over as I lost my weigh (spelt incorrectly on purpose) for a...
  12. P

    timing of shower base replacement - tax

    I'm soon going to move out of my PPOR as we are moving to Perth, and will rent it out as an IP. Our shower base is badly cracked. We plan to replace it with a new base. Would it be deductable if we do the replacement when the house is 'available for rent' but before tenant moves in... or...
  13. F

    Tax Deductibility

    Hi everyone, Long time reader with a first time post here! Hope someone can help. I am one of those who is in a fortunate, but unfortunate position in that I had paid off my PPOR (let's call it property 1) and now rent it out while my new PPOR (property 2) has a mortgage. Both properties are...
  14. S

    Australian Taxation Reporter - anyone know about them?

    Hi all, I got a sales/ marketing phone call from the Australian taxation reporter - they are a subscription service. http://www.taxreporter.com.au/ The idea is you subscribe for $539 a year, and you get bimonthly newsletters with tax updates and tips on things like tax on paid parental...
  15. brendio

    Evidence of value for related party transaction (for OSR and ATO)

    Following on from previous discussions in my development thread and my thread about the trade off between stamp duty and CGT/income tax, we are selling our property to a related party trust that will subdivide the land. I just posted in my development thread: To recap, we obtained a...
  16. jsoe

    2 situations 2 hard for me

    Hi, If some of you wonderful investors could help me out here, it'd be greatly appreciated. :o I have PPOR (a studio), lived in it for 8 months, then moved closer to my work near the city, PPOR is no longer and now tenanted. I want to sell that studio now. I won't be moving back into it...
  17. M

    Claiming Construction Loan Interest prior to house being rented

    Hi. I'm new to investing and currently have my first investment property under construction. I was under the impression that if the house was under an investment loan then i could claim the interest paid on the loan each year. Then yesterday my uncle (who i an accountant) has told me you can...
  18. redwing

    Top 30 Threads - Welcome

    Hi ALL Had some time to kill whilst fighting off a cold the last few nights; couldn’t sleep properly and Home Shopping shows at 1AM just aren’t that interesting. On the bright side Victoria Principal and Cindy Crawford look great for their age and I've learnt that sheer something or other...
  19. T

    CGT liability

    hi, I have lived in my home for 3 years now and previously had it rented to tenants for 10 years. Can anyone tell me what my CGT liability would be if I was to sell? Is it calculated on 10/13ths of the capital gain (taking the 50% reduction into account) or is there any exemption as I have...
  20. T

    Buy IP or PPOR first?

    I am just beginning my research into purchasing property and I was hoping to get some advice about the pros and cons of buying a PPOR vs IP first. Ultimately, I would like to own my own home as well as be earning income from several investment properties. At the moment, I can't afford to buy...
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