"The Week That Was: 17-23/11, 1999"

From: Mike .

Hi Everyone,

I'm not going to embarrass you with this weeks figures. I think I learnt to count this number while I was still in the womb. Boy, I've heard of form reversals but never forum reversals!

Topics include: Land Tax, 221D, LVR, DSR, Interest Rates.
BTW the Land Tax issue was raised by Sue having her second attempt to get a reply. The first attempt, almost 2 months prior, was unsuccessful. Thankfully, Ian came to the rescue and put Sue out of her misery. Another lesson for forum newbies: if your question isn't answered the first time around, try again adding begging language like, "Please, please, PLEASE HELP!"


From Ian: "For a detailed description of the tax as it applies in each of the states, I would recommend the Australian Taxpayers Association's Tax Summary ([email protected] or 03 9819 7944)."

Quotable Quotes:

From Les: "Re the GST, I couldn't find any confirmation - if I had to guess, I would think it (221D) will remain - or otherwise look out for a "landslide swing" against the current Govt. at the next election .... ;^)"

From Les: "Of note was a (new?) player called Rivkin - quoting rates that blow the socks off most of the others."

From Les: "Economists seem to be talking 1% before Jun 2000 (with 0.25% already happened). I'd bet $10 it'll be less - possibly half of that. But I won't bet any real assets on it !!!!! ;^)"

From Les: "MAJOR POINT:- Fixed rates REALLY ARE cheap at the moment - it's just that IO variable are still 1.5% cheaper ...... but I'm watching them like a hawk - and waiting to swoop !!!"

From Les: "I've "steered clear" of this one (didn't know the answers) but today jumped onto the Internet (www.ato.gov.au) and followed the bouncing ball to get HALF an answer for you."

From Anthony C: "Great Forum"

Me: Unfortunately, for Anthony, the Forum wasn't great enough to give him a reply to his post request for a "good accountant". Or perhaps good accountants are scarcer than gold nuggets. Any newbies out there want a good accountant? A fella called Steve McKnight is an accountant and has over 50 properties. Is that good enough for you? BTW I don't think he has enough time now to take on new clients. Oh well, I guess you'll just have to make do with an average accountant.

Now to this week's Classic Post and you may be forgiven if you're having an episode of deja vu right now because it's Les, again. I don't know about a "great forum", Anthony C, but the old forum had a great forum poster.

Les' reply was to PLL's question:

"If the recommended LVR is at 70% for best tax benefits and also a guidance as to how much to buy what would be the risk factor, say if interest rates rose by 5 to 6 % over the next 4 years?

What are the determinants of someone being capable of a 70% LVR, e.g. minimum income, etc?"
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