Thank you everyone for your answers and indeed your own experiences. It's fascinating and is something I want to get right first time round.
I will indeed Paul. Thank you for your advice.
Thank you for that. I wish I could say that it's were clearer to me...... Why can't the ATO and the like put these things into laymen's terms for...
I understand that the rental income is taxed at income, but I'm unsure about the insurance payout itself. Is it a captial gain? Also, if I sold...
Hi there, Here is my conundrum: I bought a house 10 years ago for $270,000 It got smashed by the floods with $314,000 worth of damage....
Hi there Jobeki, Just wondering how things developed for you after the insurance payout. What tax implications did you face? All the best. Hudbry
Hi Paul, Do you mind if I email you in the hope arranging an official "meet" with my wife and I to get some tax advice on this. Thank you.
Yes, there is still a big wait for builders in the area as well as some materials. Would be good to sit back and let them worry about it all but...
Interesting. I wonder if this is something I might need to consider since I'm not even at the payout stage let alone starting to repair!!!!
Have been paid the rent up to 12 months, but waiting for the cash settlement. See my latest comment above which gives more details.
Awesome to get all your answers and advice. Thank you. To answer your question, the aim is to get as payout. In fact that's my only option as the...
I did as you suggested as no-one seemed to know. Since the floods were so big, the insurance company agreed to pay builders an extra 20% to take...
What is an event loading then? It's obviously a buffer fee to cover them for something.......
Thank you. Can someone explain to me what "event loading" is please. I'm trying to preempt the insurance company coming back to me saying that my...
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