Tax Return Relief! $$$

[jaycee]

Exciting times hey!! How much do you think you'll get back?

90% of the income I tax paid !

Look each cent of it will go towards holding costs.
Be relieving to see the figure in my offset nice & high, enough to cover costs for a year and know that there's rent each week and next year's tax return due before that runs out.. just... pretty much... I think.....

 

[wobbycarly]

90% of the income I tax paid !

Look each cent of it will go towards holding costs.
Be relieving to see the figure in my offset nice & high, enough to cover costs for a year and know that there's rent each week and next year's tax return due before that runs out.. just... pretty much... I think.....

Sounds familiar!!

 

[jaycee]

I'm thinking of putting it all on a roulette spin or blackjack, you can make lots of money if you know hat youre doing, I'm not sure I do, but it cant be that hard.... then the stress will go away

 

[Oscar]

I used to receive huge tax returns. They never got me too excited as they were a poignant reminder of my cash flow losses. Spend $2 to get $1 back doesn't make too much sense on paper.

I recouped the losses through capital gains but I fluked most of my buys in the late 90's and early noughties, when I leveraged massively.

I wouldn't be celebrating loss making ventures all that much in 2011.

 

[Belbo]

I used to receive huge tax returns. They never got me too excited as they were a poignant reminder of my cash flow losses. Spend $2 to get $1 back doesn't make too much sense on paper.

I recouped the losses through capital gains but I fluked most of my buys in the late 90's and early noughties, when I leveraged massively.

I wouldn't be celebrating loss making ventures all that much in 2011.

Morning, Oscar!

Celebrating loss-making ventures makes sense only if you're stealing massive market share (in business, generally), of course, and that's not exactly possible in Aust resi R/E. But neg gearing (i.e. loss making) resi looks riskier now in Aust than advisable too: Interest rates could easily flip either way, and quickly and biggly, so cash buffers are wise in these times.

Indeed, I'd say the person with cash, a good eye and sufficient knowledge will do very well buying in the next 6 mths.

 

[jaycee]

I used to receive huge tax returns. They never got me too excited as they were a poignant reminder of my cash flow losses. Spend $2 to get $1 back doesn't make too much sense on paper.

I recouped the losses through capital gains but I fluked most of my buys in the late 90's and early noughties, when I leveraged massively.

I wouldn't be celebrating loss making ventures all that much in 2011.

I guess that's my situation.

It is what is

I'm getting my first 5 figure sum return and I'm not unhappy about it. It ust is wha it is, and that's all that I was saying.


You've suggested what shouldn't do, i.e. NOT celebarate my situation (And therefore my acheivements to date).

Do you suggest maybe that I maye DO something different?

 

[Oscar]

Hi jaycee, my response was general in nature to all the celebrations on here about losing money.

If you know you've recouped that amount and more, then by all means, go and celebrate. Heck, I've been celebrating for the last 10 years, and most of those years I saw juicy 5 figure returns, but my CG was measured in the 6 figures....

 

[Oscar]

Indeed, I'd say the person with cash, a good eye and sufficient knowledge will do very well buying in the next 6 mths.

I'd go a step further and say that the person with cash, a good eye and sufficient knowledge will do very well pretty much all the time.

I'm 45, and I'm loving cash more and more. I love spending it and I love hoarding it.

cheers,

 

[MangoMadness]

I'm 45, and I'm loving cash more and more. I love spending it and I love hoarding it.

Dont forget bathing, thats always enjoyable

 

[Oscar]

Dont forget bathing, thats always enjoyable

bathing and tax return relief?????

 

[jaycee]

Hi jaycee, my response was general in nature to all the celebrations on here about losing money.

If you know you've recouped that amount and more, then by all means, go and celebrate. Heck, I've been celebrating for the last 10 years, and most of those years I saw juicy 5 figure returns, but my CG was measured in the 6 figures....

Selling out of resi aned starting from absolute scratach in something I don't have to negatie gear will take care of that

I'm chalking up some for sale adverts now

 

[silverx]

getting around 5.7k back... will keep me afloat alittle longer

 

[Deltaberry]

Morning, Oscar!

Celebrating loss-making ventures makes sense only if you're stealing massive market share (in business, generally), of course, and that's not exactly possible in Aust resi R/E. But neg gearing (i.e. loss making) resi looks riskier now in Aust than advisable too: Interest rates could easily flip either way, and quickly and biggly, so cash buffers are wise in these times.

Indeed, I'd say the person with cash, a good eye and sufficient knowledge will do very well buying in the next 6 mths.

You can think of it this way. You can either pay the tax office and bankroll the majority of lazy people who do nothing on Centrelink. Or you can have the ATO subsidise your assets which will go up in $mmm over time