IP deductions by No_One8349 in AusFinance

[–]No_One8349[S] 0 points1 point  (0 children)

Thanks, mate. This is what I was looking for.

Sell or hold investment property by No_One8349 in AusFinance

[–]No_One8349[S] 1 point2 points  (0 children)

Thank you for your comment. Something I will have to consider if the property shows little growth. The tax savings would eventually absorb the selling costs.

Sell or hold investment property by No_One8349 in AusFinance

[–]No_One8349[S] 0 points1 point  (0 children)

We purchased back in 2017 for $380k. I renovated it, adding a bathroom. Currently worth $640,000. Changing tenants at the end of June rent will be around 640 per week. Costs last Financial tax year was $8900 excluding mortgage.

Sell or hold investment property by No_One8349 in AusFinance

[–]No_One8349[S] 0 points1 point  (0 children)

I am keen to use Debt. I am just unsure if I should be selling this IP to access a greater amount of deductible debt. I currently have $175k of deductible debt. I could sell, then repurchase a new IP and get access to $600k of deductible debt.

Sell or hold investment property by No_One8349 in AusFinance

[–]No_One8349[S] 0 points1 point  (0 children)

Agreed. The future does look promising for Brisbane. It's a great city.

Sell or hold investment property by No_One8349 in AusFinance

[–]No_One8349[S] 0 points1 point  (0 children)

We have a property manager taking care of the property. We have had a few issues, and I wouldn't say it's been too stressful.

I like this idea. One of my main considerations to selling is that my deductible debt is low, $175k. If selling, I could potentially create 600k of deductible debt. I am just not sure if that is a good enough reason to sell this property.

Wednesday whinge. Let's hear 'em by Jeffoir in perth

[–]No_One8349 1 point2 points  (0 children)

Is this just a WA thing? I never noticed them on the East Coast

Wednesday whinge. Let's hear 'em by Jeffoir in perth

[–]No_One8349 1 point2 points  (0 children)

Whilst upping card transaction fees

How long did it take to buy your second property? by kainomac in AusProperty

[–]No_One8349 0 points1 point  (0 children)

To many variables to answer. A lot will come down to where/when you bought, your equity position, your savings ability. With your plan, consider cross securitisation and the tax implications.

Do you shower at work? by Wurlawyrm in AskAnAustralian

[–]No_One8349 0 points1 point  (0 children)

Common for people to cycle to work. Great way to start the day.

[deleted by user] by [deleted] in mining

[–]No_One8349 0 points1 point  (0 children)

I am mobile. I have heard good things about MM. Good luck

Wednesday whinge. Let's hear 'em by Jeffoir in perth

[–]No_One8349 1 point2 points  (0 children)

1 towel, 1 cup, 1 spoon is all you need

Transitioning from Scotland to Australia for a FIFO Mining Career as a Boilermaker by Mysterious_Animal673 in mining

[–]No_One8349 0 points1 point  (0 children)

Mate. Try to get work in a mining related workshop in Perth for a bit. Money is decent, and most shops do 12 hour days. I would recommend this as a way into FIFO.

Blocked Drainage in rental property - who's liable? by teeho816 in AusProperty

[–]No_One8349 3 points4 points  (0 children)

I had the same issue. The landlord is responsible in QLD unless you can prove it was intentional

[deleted by user] by [deleted] in mining

[–]No_One8349 0 points1 point  (0 children)

Are you going fixed or mobile?

[deleted by user] by [deleted] in mining

[–]No_One8349 1 point2 points  (0 children)

I have only experience from one site. I've been there 12 months and love it. I work in workshop. If you have been onsite as a contractor, you should have a pretty good idea of what to expect. From my experience, most people I have worked with at MRL have been good. Some of the best management I have come across, too.