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Type: Posts; User: Rosco

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  1. I'm not great on tenancy laws, but from talk on...

    I'm not great on tenancy laws, but from talk on facebook groups, this is them sliding it in. Expected May / June 2020.

    Ross
  2. So just do it once every 12 months for a bigger...

    So just do it once every 12 months for a bigger rent increase! I can't see the benefit for tenants in this rule change, and I also can't see the issue for landlords.
  3. I'm pretty sure they are looking at turning fixed...

    I'm pretty sure they are looking at turning fixed tenancies into periodic, so you would also need a reason to cease fixed term tenancies!
  4. I actually don't think these are that bad - 63...

    I actually don't think these are that bad
    - 63 days notice if selling. Just means have to be organised and plan!
    - 3 compliants within 90 days, then tenancy tribunal helps a bit
    - 3 late rents...
  5. Hi, Xero is very common as most accountants...

    Hi,

    Xero is very common as most accountants also use it. Through an accountant it is only $12 per month for a non GST cashbook.

    Xero should save you time by memorising transactions and...
  6. Hi, By your question it sounds like you...

    Hi,

    By your question it sounds like you already know the answer, but just don't want to admit it. Generally costs related to preparing for sale are not repairs, so not deductible. The true test...
  7. Hi Andrew, Is your personal house a good...

    Hi Andrew,

    Is your personal house a good rental?

    I'll put it another way. If you didn't own the property, and you were looking to buy a rental, would you buy your existing personal home as a...
  8. Thread: 42 day notice

    by Rosco
    Replies
    7
    Views
    422

    You will need to check that before relying on my...

    You will need to check that before relying on my tenancy advice! As I put, I'm not great on it and I would ask someone else!
  9. Thread: 42 day notice

    by Rosco
    Replies
    7
    Views
    422

    Hi, I'm not great on tenancy law, so hopefully...

    Hi,
    I'm not great on tenancy law, so hopefully someone else will add some more or correct me.

    Who owns the property? If a Company, then I'm not sure they can do the 42 days, as the company...
  10. Replies
    2
    Views
    236

    Hi, I'm not sure a forum is the right place...

    Hi,

    I'm not sure a forum is the right place for these questions. This is very specific information and is going to be very specific to your site. How wide it is, what zone it sits under etc.
    ...
  11. Thread: Interest Rates

    by Rosco
    Replies
    5,906
    Views
    989,599

    Why not use a broker?

    Why not use a broker?
  12. Replies
    4
    Views
    526

    Hi Premo, 1) Insurance - I would check you are...

    Hi Premo,

    1) Insurance - I would check you are covered for insurance

    2) Builders final items - From my experience I would make sure all items have been fixed before you move in, and before you...
  13. Thread: Family House

    by Rosco
    Replies
    4
    Views
    323

    So really you are borrowing all the $1.1m! As...

    So really you are borrowing all the $1.1m! As otherwise could put the $200k on your personal house

    I would suggest working out your full cashflow, and guessing it is quite negative with full...
  14. Thread: Family House

    by Rosco
    Replies
    4
    Views
    323

    Hi, Are you in a position to help them? Think...

    Hi,

    Are you in a position to help them? Think seriously on this.

    If so, does it need to be a 6 bed house that will give you a $900k mortgage?

    Is the property a good investment? ie is rent...
  15. Replies
    10
    Views
    1,941

    Get some advice from a property expert on this,...

    Get some advice from a property expert on this, as this statement isn't correct.

    There are ways a share transfer can create a taxable activity for property companies, but it is not as your...
  16. Replies
    8
    Views
    677

    I would suggest getting some expert advice, as...

    I would suggest getting some expert advice, as you are asking a lot of questions and answers always depend on your exact circumstances.

    For example, if this was really a trade, where you purchased...
  17. Get some expert advice! It depends on who owns...

    Get some expert advice!

    It depends on who owns the two properties. If just a partnership of A and B, then half the property profit or loss will flow to A for example, they might get $5,000 profit...
  18. From tax perspective and legal perspective you...

    From tax perspective and legal perspective you are selling and then buying again. So could be subject to Brightline rules, and/or GST or other taxing provisions.

    Ross
  19. Replies
    8
    Views
    677

    Hi, As above if normal long term residential,...

    Hi,

    As above if normal long term residential, then no GST.

    But if airbnb or short term accommodation, then there is an issue. If income over $60k per year of short term accommodation, then IRD...
  20. Why would you get or take tax advice from a...

    Why would you get or take tax advice from a lawyer?
  21. Hi, It depends on your situation and the banks...

    Hi,

    It depends on your situation and the banks criteria at the time.

    NOTE - the bank criteria and rules might change over time. So they might allow interest only for a while, and then they...
  22. Replies
    924
    Views
    104,625

    Poll: Over 5 years would have been nice! There is...

    Over 5 years would have been nice!

    There is also a lot of unintended consequences!

    1) Rental in personal name with loss. Huge profit in Trust from rentals, allocates to individual = Can't...
  23. Replies
    25
    Views
    10,496

    There are also other exemptions, other than...

    There are also other exemptions, other than holding for 10 year or more before commencing subdivision activity!

    Plus there are also other sections of the income tax act you can be taxed under,...
  24. Thread: Interest Rates

    by Rosco
    Replies
    5,906
    Views
    989,599

    From facebook group, Reismac 3.89% for 2 years at...

    From facebook group, Reismac 3.89% for 2 years at 80% LVR? This option doesn't appear too made if you are struggling for equity, and might be worth talking to your broker about.

    Ross
  25. Replies
    2
    Views
    243

    Generally you would obtain a valuation and sale...

    Generally you would obtain a valuation and sale at valuation. Any gifting would be from this value. Also note how gifting will affect Rest Home Subsidies and there might be smarter ways of doing...
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