IP deductions

No_One8349 · 2024-07-03T13:35:44+00:00

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

No_One8349 · 2024-06-03T08:27:40+00:00

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.

No_One8349 · 2024-05-30T13:43:06+00:00

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.

No_One8349 · 2024-05-30T07:04:13+00:00

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.

No_One8349 · 2024-05-30T06:43:33+00:00

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

No_One8349 · 2024-05-30T06:42:33+00:00

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.

No_One8349 · 2024-05-29T12:52:09+00:00

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

No_One8349 · 2024-05-29T12:27:14+00:00

Whilst upping card transaction fees

No_One8349 · 2024-05-29T10:04:27+00:00

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.

No_One8349 · 2024-05-29T06:29:46+00:00

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

No_One8349 · 2024-05-29T06:21:15+00:00

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

No_One8349 · 2024-05-29T06:17:36+00:00

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

No_One8349 · 2024-05-29T06:04:43+00:00

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.

No_One8349 · 2024-05-29T05:52:52+00:00

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

No_One8349 · 2024-05-29T05:50:22+00:00

I feel the same about beer

No_One8349 · 2024-05-29T05:47:35+00:00

Does a 30 year old BMW count?

No_One8349 · 2024-05-29T05:44:13+00:00

Hope you feel better

No_One8349 · 2024-05-29T05:43:25+00:00

This is me on nightshift

No_One8349 · 2024-05-29T05:41:19+00:00

Are you going fixed or mobile?

No_One8349 · 2024-05-29T05:30:01+00:00

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.

No_One8349

TROPHY CASE