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Question Several years ago I started a business in Dubai in my own name. I visited Dubai each alternate month.Last year my local partner stole so much money from the business we had to close and I crystallised a loss of about $AUD 400,000In setting up the business I purchased a house to live in …
Question We have come from NZ, sold up and will be buying a caravan as our home. Following the harvest trail via Workabout Australia, club members thereof, currently in Gargett for cane season.Do we need a ABN, if so, what is this, how do we get it etc?Do we go under backpackers or something else …
Question Hi Julia,My wife and I are interested in the following strategy; purchasing a rental property and capitalising the investment loan interest, so that we can use the net rent to pay down our non-deductible home loan at a faster rate. This obviously means that the balance owing on the investment loan will increase substantially …
Question Hello JuliaApologies for the long question, but I would like to start of with a detailed context to my question, in order for you to gain a proper understanding of our situation.In July 2007 my husband and I purchased an investment property in inner city Brisbane. The property was on two lots, with a …
Question What sort of structure should we use to buy our next investment property?Overview; My wife and I currently own a duplex we developed from a singlevacant lot originally with the view to rent out. We have now changed ourminds and are currently selling them. The contract dates are more than ayear apart, and are …
Question Husband and wife partnership did residential land subdivision development in two stages over several years. Partnership had ABN & GST registration. Majority of lots sold via Real Estate Agents.2 vacant lots are to be kept for future investment.Partnership not doing any further business, as all stages sold.Now GST registration due to be cancelled, as …
Question We’ve just sold an investment property for $345k in March 2010 (purchased Dec 07 for $350k/borrowed $370k). After fees & charges we have a capital loss of $31k. We have another investment property which we are considering selling & want to know is there any advantage in selling that in either this financial year …
Question I bought an old house with my cousin as tenants in common (50% each) and built a new house after demolishing the old one.We shared all the expenses in half. After the completion, he use the new house as his main principle of residence and I do not charge he any rent during the …
Question My wife and I bought property 1 as a family residence in joint names in 1988 price $105000.The property was transferred into her name for rental/ negative gearing purposes in 1992 and we then bought property 2 as a family residence in her name.We separated 8/07 and divorced 3/09.I have lived in property 1 …
Question I am currently purchasing an ex local council property ( which was formerly a local infant welfare centre)in partnership with another couple. The property was sold with GST written into the sales contract. The settlement is mid April. We are buying in the name of trusts as tenants in common.My question is how to …
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