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I thought NRAS was scrapped in the most recent budget.
You can also use a monthly tax variation but it's not my preferred method.
If you have a 20% deposit, you also have 2 x 10% deposits, provided you have the necessary borrowing capacity to buy two properties. ie. 2 x NRAS properties at 90% + LMI.
Ie For me personally i love capital growth properties as that's where the big money is .
Any links Euro to properties that are as CF+ as you claim, while not being overpriced and being decent properties in decent areas?
Hi Euro,
Thanks for the post, very interesting. Just wondering why you don't favour ITWV's?
Cheers,
SupaRex
How does nras affect one's serviceability? Does it limit to a very few lenders?
Is it managed by some specialist PM? What % do they charge?
In a complex/block what % is nras typically? If high %, wouldn't you be competing with a lot of landlords once rebates are removed?
What is CG potential compared to a similar property in the area? Would the banks/valuers value it more conservatively?
You can approach me offline /via PM and I can show you NRAS properties.
Happy to provide you with some examples of NRAS properties where valuations have been at contract price, and in good quality locations.
Nundah QLD
Alderley QLD
Windsor QLD
Zillmere QLD
Brunswick VIC
Ringwood VIC
Castle Hill NSW
Elanora Heights NSW
Gregory Hills NSW
Baulkham Hills NSW
Wentworthville NSW
Rosehill NSW
So the 100K taxable income has become an almost tax free income, but you've also earned an additional 26.5 - 29.5K tax free.
Net result = @ 126.5-129.5K after tax income, with little or no tax to pay.
If a person earns 100K, and were to purchase 4 X NRAS Properties, and each
Gross Income from Salary = $100,000
Tax Payable on 100K = $24,947 - refer to http://calculators.ato.gov.au/scripts/axos/AXOS.asp
Combined ATO and NRAS refund = $67,249 (18,061 + 17,161 + 17,161 + 14,866)
Net after tax income = $142,302
Hi Euro, so deduct $40k cash loss to get to $102,302 therefore net after tax cash flow is $102,302 - $75053( $100,000 - $24947) = $27,249 p.a ?