A couple of tax questions.....Dale?

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From: Kathryn H


(Sorry, I posted this in the Meeting Point by mistake, so here it is again)

Dale, hopefully you can answer these for me...I just bought your Tax Battles manual from the Freestylers website, but I probably won't get it for a few days. 1) What all is included in the Borrowing Costs? Is it just the Mortgage Stamp duty, application fee and any inspection reports? Or does it also include the Stamp Duty on the purchase? 2) What is the current depreciation rate on carpets and blinds? 3) When is it a good idea to set up a trust and why? I don't know much about trusts and am wondering if we're missing out on something. Is it expensive to set up?
Cheers,
Kathryn
 
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Reply: 1
From: Dale Gatherum-Goss


Hi Kathryn!

OK, are you coming to my seminar this week? Some of those issues will be covered in the seminar and probably in a little more detail than I can here.

Anyway . . .

Borrowing costs include all expenses involved in borrowing money. This can include:
Guarantee Fees, search fees, valuation fees, survey & registration fees, application fees, mortgage insurance etc and stamp duty on the mortgage.

Stamp duty on the land is not a borrowing cost.

The current depreciation rates for carpets is 15% and curtains and drapes is 22.5%

As for Trusts. . . my personal belief is that you should establish a trust before you start on this wonderful journey. or, as soon after as you realise that you should.
The why is too much for here, but, is definitely covered in the "Tax Battles" manual and is something that I will explain in more detail in my seminar.

I hope that this helps.

Dale
 
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Reply: 1.1
From: M O N T O


Dale,

Please advise the detail of this seminar if there're still seats available. If it's not convenient to post the detail here please send to my email address. Thanks.


On 5/6/02 7:23:00 AM, Dale Gatherum-Goss wrote:
>Hi Kathryn!
>
>OK, are you coming to my
>seminar this week? Some of
>those issues will be covered
>in the seminar and probably in
>a little more detail than I
>can here.
>
>Anyway . . .
>
>Borrowing costs include all
>expenses involved in borrowing
>money. This can include:
>Guarantee Fees, search fees,
>valuation fees, survey &
>registration fees, application
>fees, mortgage insurance etc
>and stamp duty on the
>mortgage.
>
>Stamp duty on the land is not
>a borrowing cost.
>
>The current depreciation rates
>for carpets is 15% and
>curtains and drapes is 22.5%
>
>As for Trusts. . . my
>personal belief is that you
>should establish a trust
>before you start on this
>wonderful journey. or, as
>soon after as you realise that
>you should.
>The why is too much for here,
>but, is definitely covered in
>the "Tax Battles" manual and
>is something that I will
>explain in more detail in my
>seminar.
>
>I hope that this helps.
>
>Dale
 
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Reply: 1.1.1
From: Dale Gatherum-Goss


Hi

I know the details were posted in the "Meetings" section of this forum so may I respectfully suggest that you look there.

Dale
 
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Reply: 1.1.1.1
From: Kathryn H


Hi Dale,
Thanks for your response. I'm going to try and make it. Newcastle is a bit easier for me, but I'll see if I can juggle to make it to Sydney instead. If not, I'll have to make do with the manual. I don't know much about trusts and I'm sure it's easier to understand with a verbal explanation. Otherwise, I may have to use that voucher and fly to Melbourne :)
Thanks again,
Kathryn
 
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Reply: 1.1.1.1.1
From: Dale Gatherum-Goss


Hi!

I mentioned in the chat room last night that if enough Newcastle people hassle Freestylers then I will gladly come up and talk there as well as Sydney.

The ball is now in your court!

See ya soon

Dale
 
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Reply: 1.1.1.1.1.1
From: Miakat .


Dale,

I've been hassling Nivia for you to come up to Newcastle for weeks. We would love to have you up here. I'm halfway through your manual and think it's brilliant. So easy to understand and completely relevant.

Please Please Please come up. (is that enough sucking up?)

Mia
Newcastle Freestyler Coordinator
 
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Reply: 1.1.1.1.1.1.1
From: Dale Gatherum-Goss


OK, you win

If you set a date and let me know, I'll come up. Of course, you'll have to co-ordinate that with the freestyler office so that you don't pick a date that I'm already booked.

Can you let me know please?

Ta

Dale
 
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