Aaron,
Good point Re Ms Boholt. I think her 'representative' was shortsighted, rude and looking for issues when there were none, but nothing more than that. In fact even Henry Kaye did nothing I thought was really 'out there'. Ok he sold properties for a lot more than they were 'worth' (although he sold them at that price so they were 'worth' that to someone!) but no-one bats an eyelid when car dealers do it... If you have an edge that allows you to sell something to someone for $25-30k more than anyone else would pay, I say well done and go for it! In fact, if you really want to get down to it, anyone who owns a property has paid more than someone else wanted to pay for it, so in effect IMHO the whole 'value' thing is completely up for debate - as proved amply by the whole sub prime fiasco...
My Aust finance broker has used my US income to prove serviceability on AU property I have, so it _can_ be done. I have just refi'd with Citi on a couple of little properties I have here and they wanted to see my US returns and rental statements...
I should know more about tax, so I bow and scrape and tug my forelock to most in that area. I do claim US losses against income earned in Aust, but everything is in my name and I pay full US and Aust returns. I have never done anything 'iffy' and just accept it as one of those things. There was a time when I couldn't claim any losses, now I can. Maybe it will change, maybe it wont. Apart from one building I had issues with of my own making the losses are small in any case.
Good point Re Ms Boholt. I think her 'representative' was shortsighted, rude and looking for issues when there were none, but nothing more than that. In fact even Henry Kaye did nothing I thought was really 'out there'. Ok he sold properties for a lot more than they were 'worth' (although he sold them at that price so they were 'worth' that to someone!) but no-one bats an eyelid when car dealers do it... If you have an edge that allows you to sell something to someone for $25-30k more than anyone else would pay, I say well done and go for it! In fact, if you really want to get down to it, anyone who owns a property has paid more than someone else wanted to pay for it, so in effect IMHO the whole 'value' thing is completely up for debate - as proved amply by the whole sub prime fiasco...
My Aust finance broker has used my US income to prove serviceability on AU property I have, so it _can_ be done. I have just refi'd with Citi on a couple of little properties I have here and they wanted to see my US returns and rental statements...
I should know more about tax, so I bow and scrape and tug my forelock to most in that area. I do claim US losses against income earned in Aust, but everything is in my name and I pay full US and Aust returns. I have never done anything 'iffy' and just accept it as one of those things. There was a time when I couldn't claim any losses, now I can. Maybe it will change, maybe it wont. Apart from one building I had issues with of my own making the losses are small in any case.
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