Strata Levies in arrears, only just found out!!
Quote: Originally Posted by neK (Post 1179167) This is the difference between a good PM and a bad PM. My PM has his own check list. Any time he takes on a new client. After confirming with the owner...
View ArticleStrata Levies in arrears, only just found out!!
Quote: Originally Posted by Cobysan (Post 1179400) It's one of those face palm moments that you wish you hadn't ignored that niggling feeling that something wasn't right. You need a rough idea of what...
View ArticleDepreciation claimed and selling IP
Quote: Originally Posted by sandyfeet (Post 1179593) What if you are selling the property after claiming depreciation for 5 years and the property is CGT exempt due to PPOR status? This is all about...
View ArticleIs it ok to pay my tax bill with LOC?
If you are considered to be running a business, though, wouldn't you also lose the CG discount because it'll all be ordinary income?
View ArticleStrata Levies in arrears, only just found out!!
All of this could have been avoided with some simple communication up front. Call / send a letter / email the body corp to change your mailing address, then follow up with a call to confirm.
View ArticleDepreciation claimed and selling IP
Quote: Originally Posted by BLTN (Post 1179979) But does that mean you need a QS report to be able to claim depreciation? A QS report is simply a surveyor doing it for you. You could put it together...
View Articleleaving property to kids
If there is significant CG, a testamentary trust might be useful, especially if you have a lot of underage grandchildren. May be worthwhile to pay for some expert advice here.
View ArticleDiscretionary distribution of property income?
Quote: Originally Posted by Scott No Mates (Post 1180033) Is it a unit trust (with defined distribution) or a discretionary trust (allowing the distribution at the discretion of the trustee)? That's...
View ArticleDiscretionary distribution of property income?
Quote: Originally Posted by Harriet (Post 1180038) When and how are units "redeemed"? In lay terms, is that what happens when the debt is paid? What was your understanding of how these things work...
View ArticleDiscretionary distribution of property income?
Most likely you sell the units back to the trust. This will probably have to be at market value, triggering a CGT event to you.
View ArticleWhat would you do in my shoes? (Need help with analysis for first time investor)
Also the 4,256 loss is before tax. After tax (assuming 30% tax rate), it's 2,979 Assuming there is 3k of depreciation a year, the net loss is 2k a year after tax. It's gone up 15% (about 50k) in 18...
View ArticleDeveloping an Investment Strategy
You're relatively young, have a load of equity in your PPOR, and no investments. You're most likely going to be borrowing 100% for investments. i.e. you're unlikely to have any positive taxable income...
View ArticleDeveloping an Investment Strategy
Quote: Originally Posted by ramssss (Post 1181117) Thanks Terry. I've assumed, perhaps incorrectly, that these structures you've listed will not allow discretionary routing of investment income for...
View Articleasset split in divorce
Quote: Originally Posted by TMNT (Post 1181141) Does it matter whether these funds were spent on paying back cc or a holiday together or living expenses or if one party has legally siphoned away the...
View Articlechildren on new title
Quote: Originally Posted by fernfurn (Post 1181188) If I buy another house and pay cash for it and put my 3 adult children and myself on the title, I take the rent and declare it to the tax office,...
View Articlechildren on new title
Quote: Originally Posted by Paul@PFI (Post 1181381) Punitive tax rates apply to minors. Also a child isnt considred a land owner for land tax in many cases. YOU may be attributed as the owner until...
View Articlechildren on new title
Quote: Originally Posted by fernfurn (Post 1181188) If I buy another house and pay cash for it and put my 3 adult children and myself on the title, I take the rent and declare it to the tax office,...
View ArticleSmsf
Quote: Originally Posted by tj22 (Post 1181939) I don't have a great deal of knowledge when it comes to SMSF's Have you considered whether a SMSF is a good vehicle for you at all? How old are you?...
View ArticleOpinion Need
Quote: Originally Posted by knicks_1986 (Post 1182060) create $1200 extra income per month(no tax). How are you justifying not declaring this as income?...
View ArticleFirst Home - Where in Sydney?
Quote: Originally Posted by awoawo (Post 1182787) Hi Jacque Thanks for pointing in the direction of Quakers hill, dean prk etc. but purchase of established prop = no first home grant or stamp duty...
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