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Tax Questions Answered
Question I am purchasing a property on one title and contract has exchanged. I’m about to set up my loan, and have been thinking about how to account for the rental part of the property.I will live in a 2 bedroom house with an attached 2 bedroom granny flat which I will be renting out. …
Question We bought an old property to live in which we rented out for around 1.5 years while we went through the DA Process to build. We found out that we could build a duplex, so we decided on that, with the intention of renting out the upper duplex and living in the other.The property …
Question Hi I have an investment property that I purchased under six years ago. I moved into the property immediately for a six month period and then commenced renting it. It is still rented today. Since then I have not owned another property that was my PPOR. I would like to sell it before the …
Question Am currently refinancing loan currently in name ofcompany atf Trust. debt 157K.Propose to set up 2 loans:1- L.O.C under own name : secured IP 300K2- Trust(current one) : secured IP 165KThe 157K debt will be allocated aprox as follows:In trust loan- 130K : In L.O.C loan- 27KQ: Can the trust claim tax deductability for …
Question QuestionWould you go ahead and build as planned under the following circumstances?GRAND PLAN: New development proposed on PRIOR PRINCIPAL PLACE OF RESIDENCE purchased as private home in 1998BACKGROUND INFO:As tenants in common owners completed a 4 unit development in 2009 on land purchased for intention of building rental properties. (not the P.P.R)Three of the …
Question My husband and I have been living and working in the Netherlands since September 2008. We are Australian citizens but Australian non-residents for tax purposes. My husband is the sole income earner, and his income is taxed here in the Netherlands. We intend to continue living in the Netherlands for a few years, and …
Question Hi JuliaMy first investment property I had been acquired on 24 March 2005 as a block of land (600sq.m) with existing old house built on this land with intention to rent it out for long term.Due its obsolescence this old house required sufficient capital improvement. Then at the end of 2008 I decided to …
Question Hi,My wife and I own 2 properties as Joint Tenants. Property A (our Primary Place of Residence – a unit) has no loan owing. Property B (a green title house) was bought with the intent of being an investment property and has been rented from the outset for the last 18 months with an …
Question Hi Julia I have a beach property which is currently rented for holiday rentals (I suppose this is no different to residential rent??) I am not registered for GST and I do not use the property for my personal use. I want to sub divide the property and build 2 units and then continue …
Question I purchased a property in march 2008 in the name of our discretionary family trust,with the intention to use as a rental property.It was rented for a period of 14 months.At this point in time severe structural termite infestation & water damage was discovered & it was determined the dwelling was to far gone …
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