Terry_w's Recent Activity

Join Australia's most dynamic and respected property investment community
  1. Terry_w replied to the thread Loan to parents whilst waiting for them to sell a commercial property.

    Yes. Doesn't have to be witnessed by a solicitor. but seek advice on this, especially the enforcement of a debt if there are no...

    21st Aug, 2019 at 2:49 PM
  2. Terry_w liked Trainee's post in the thread CGT on Discretionary Trust.

    If you have 300k in losses, why would you use an example where the loss is lower than the gain? Since the trust clearly has more losses...

    21st Aug, 2019 at 2:48 PM
  3. Terry_w replied to the thread CGT on Discretionary Trust.

    You are wording things poorly. Does the trust have $300-400k in losses? Or you (i)? Are these losses capital losses or carried forward...

    21st Aug, 2019 at 1:45 PM
  4. Terry_w liked Jess Peletier's post in the thread Refinance P+I to Interest Only.

    The only issue there is that some people spend it when it's just sitting there. Some people get very uncomfortable with large sums...

    21st Aug, 2019 at 1:31 PM
  5. Terry_w liked kierank's post in the thread Refinance P+I to Interest Only.

    ... and c) if one has the cashflow, one can make an IO loan “act” like a P&I loan by paying the interest and depositing an amount equal...

    21st Aug, 2019 at 1:31 PM
  6. Terry_w replied to the thread Refinance P+I to Interest Only.

    Don't forget 2 things a) PI loans can be refinanced back to 30 years every 2 years or so - subject to servicing. Soon the PI repayment...

    21st Aug, 2019 at 1:02 PM
  7. Terry_w replied to the thread CGT liability.

    are you talking about toongabie? You have a choice. a) cost base reset at first used to produce income, or b) use the 6 year rule

    21st Aug, 2019 at 12:53 PM
  8. Terry_w replied to the thread Home Based Business Run Through a Company or Trust the ATO has warned you !.

    Not so, unless your business is operated by another entity.

    21st Aug, 2019 at 12:20 PM
  9. Terry_w replied to the thread Home Based Business Run Through a Company or Trust the ATO has warned you !.

    From TD 1999/71 7. David owns a 6 bedroom home which he and his wife Sophie have used as their main residence since it was purchased in...

    21st Aug, 2019 at 11:16 AM
  10. Terry_w replied to the thread Home Based Business Run Through a Company or Trust the ATO has warned you !.

    Have a careful read of the legislation. From memory, it states something like if the taxpayer was able to claim the interest on the...

    21st Aug, 2019 at 11:15 AM
  11. Terry_w replied to the thread Home Based Business Run Through a Company or Trust the ATO has warned you !.

    It would depend on the circumstances, but if there is no rent being claimed by the company or trust then there would be no deductions,...

    21st Aug, 2019 at 11:13 AM
  12. Terry_w replied to the thread CGT on Discretionary Trust.

    Are you referred to the trust when you say 'I'? You seem confused about who is who.

    21st Aug, 2019 at 11:11 AM
  13. Terry_w liked [email protected]'s post in the thread Home Based Business Run Through a Company or Trust the ATO has warned you !.

    The otherwise deductible rule requires that there be a nexus between the taxpayer (eg Fred) claiming a % of rent for example and the...

    21st Aug, 2019 at 9:23 AM
  14. Terry_w replied to the thread Home Based Business Run Through a Company or Trust the ATO has warned you !.

    A sublease would only apply where a person leased a property and then lease out part of their lease to someone else. if it is your own...

    21st Aug, 2019 at 9:13 AM
  15. Terry_w replied to the thread Home Based Business Run Through a Company or Trust the ATO has warned you !.

    Its nothing new, but just general law. Imagine you rented a business premises, you would need to show the contract to prove this if...

    21st Aug, 2019 at 8:41 AM