What will you do with your tax return?

So who is planning on some improvements to increase yield of their properties?

Both my IPs are tenanted at the moment, and I have just done a fair bit of work in the back yard of one.

I'm sticking this money aside this year, with a view to replacing / updating kitchen and bathroom in one property if and when it becomes vacant.

If and when the other becomes vacant, I'm going to take some time off work, get out there with some paint, some new fixtures and fittings for doors and taps, and if there is some money left over, put in some new carpet and blinds.

I believe that whilst capital appreciation appears to be slowing, it's important to improve the yield and get these properties generating +ve cashflow as soon as possible.

What do you plant to do with your returns?
 
I'll buy another place, if the bank will lend 95%.
I'll go through another bank than the current one and try to build equity with them.

If not, the pokies will receive a large donation (kidding)
 
New drysuit for scuba diving. Holiday for 2 scuba diving in Fiji.

I don't count the tax benefits when I invest. When I get the return back, I use the money as my own reward.
 
Will go straight on the PPoR loan, since its at 7.8% and the payments they want us to make are actually less than the interest being charged, so our loan will go *up* in the first few years otherwise.
 
What's a tax return ??

Haven't paid any income tax for years now, so it's a bit unrealistic to expect them to "give any back".

I decided when starting out playing this property game to contribute to society in the form of stamp duty instead.
 
I've had a reasonable year with my farm business and my property investments are ticking along with no great dramas to speak of . Went in to see accountant towards the end of last month to see what we could do about the likely cashflow profit and came home with a list of options to consider .

Prepaid some business expenses , put 25k into farm management deposits and utilised some losses from another entity .

Will only be looking at paying a token amount later on .

Just as well we are onto it or we could be paying a heap of tax . I have never quibled what my accountant charges and she could triple her fees and that would still be ok .

Shawn
 
No refund, I owe the tax man

Made a fair bit in the past 2 years from U.S. stocks rising ridiculously. As a result, I have a nice tax bill of around $30-40k from 09-10. Late too, just too busy. Hopefully I can get a reasonable payment plan.
10-11 should see it come in around neutral.

I work in an industry with ridiculous potential spikes in income that are somewhat unpredictable. Add another unpredictable CG boon from good stock purchases and it makes tax planning a real headache.

Good news is this all funded a great start into property. 1xPPOR, 4xIP's inside 13 months. Slightly negative cashflow. If I can get the tax under control soon I should be able to buy again in a couple of months.
 
I want a new car (3 kids don't actually fit in the back of ours ... and we have 3 kids) but the tax return ain't going to do it unless I get something old and clapped out. The plan is just to stop travelling with all 3 of them when the biggest kid doesn't fit, or take a bandsaw to the side of the babyseats so there's room for her shoulders. Right now if we were in an accident she'd come out with very damaged shoulders because she sits behind the baby seats, so it really isn't safe.

Do you violate Australian standards if you do modifications to baby seats? :)
 
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