Can we claim tax deductions when renting out primary residence?

Question: We are moving interstate and own a property with a $300,000 mortgage that we would like to keep as an investment property.  I would like to know: (1) Is it true that if we keep this as our primary residence we won’t pay capital gains tax if we sell within six years. (2) Can we claim tax deductions connected with …

Do I have to pay capital gains tax on the half property I inherited from my spouse?

Question: My spouse and I owned an investment property in joint names until my partner’s death 10 years ago, when I became sole owner. The property was sold last year. The property was not our main home. Do I have to pay capital gains tax on the half I inherited? Answer: If the property was …

Property investment strategies – How to pick a good investment property

Should I pick an investment property by capital growth or rental return? Should I invest in houses or units? Property investing has become a popular Australian past time with one in ten taxpayers owning a negatively geared property. But just what makes a good bricks-and-mortar investment? It’s not about buying any old house or unit, …

Which house price you should trust: median price or average price?

You might often hear median price and average house price. What is the difference between median price and average price? Which one you should use as a reference when you want to purchase properties? Difference between median price and average price Averaging adds up property prices in a list and divides by the number of …

Is the Ultimate Property Calculator suitable for managing investment properties?

Well, yes and no. In the sense of yes, you can include your existing properties into the calculator. You can input all the rental related information, income information, expenses, and tax information etc on a yearly basis. However, the Ultimate property investment calculator is an investment property analysis program not an accountancy program so you should …

Can I get free update for Investment Property Calculator?

Yes if you purchase the standard, professional, or ultimate version. Not only one year, two years, or three years free update, you get lifetime free update. Whenever there are updates on income tax scales, capital gain tax, stamp duty, land tax, and medicare levy, etc, update will be made to the the standard, professional, or …

What happens when you have unsustainable home loans?

The answer is so simple – bankruptcy! Bankruptcy is increasingly becoming a ”middle class phenomenon” in Australia, says the report from the University of Melbourne Centre for Corporate Law and Securities Regulation. Middle-class professionals and people on high incomes are declaring bankruptcy faster than ever in Australia, according to this study that reveals bankruptcies have …

Should we blame Foreigners especially Chinese for poor housing affordability?

Should we blame foreigners, especially Chinese, for poor housing affordability? I don’t think so although there seem to be many people thinking so. Here are some comments I found on the web regarding high housing prices and poor housing affordability in Australia. It is going to be hard to work out how much it is raising …