The way that rental income and expenses are divided between co-owners varies on whether the co owners are Joint Tenants or Tenants in Common.
Co-owners of an investment property – not in business
A person who simply co-owns an investment property or several investment properties is usually regarded as an investor who is not carrying on a rental property business, either alone or with the other co-owners. This is because of the limited scope of the rental property activities and the limited degree to which a co-owner actively participates in rental property activities.
Dividing income and expenses according to legal interest
Co-owners who are not carrying on a rental property business must divide the income and expenses for the rental property in line with their legal interest in the property. If they own the property as:
Joint tenants, they each hold an equal interest in the property.
Tenants in common, they may hold unequal interests in the property – for example, one may hold a 20% interest and the other an 80% interest.
Tuesday, March 29, 2011
What Property Investors Can Claim As An Immediate Deduction
EXPENSES FOR
WHICH YOU CAN
CLAIM AN IMMEDIATE DEDUCTION
Expenses for which you may be entitled to an
immediate deduction in the income year you incur
the expense include:
advertising for tenants
bank charge
body corporate fees and charges
cleaning
council rates
electricity and gas
gardening and lawn mowing
in-house audio/video service charges
insurance
building
contents
public liability
interest on loans
land tax
lease document expenses
preparation
registration
stamp duty
legal expenses (excluding acquisition costs and borrowing costs)
mortgage discharge expenses pest control
property agent’s fees and commission
quantity surveyor’s fees
repairs and maintenance
secretarial and bookkeeping fees
security patrol fees
servicing costs – for example, servicing a water heater
stationery and postage
telephone calls and rental
tax-related expenses
travel and car expenses
rent collection
inspection of property
maintenance of property
water charges.
WHICH YOU CAN
CLAIM AN IMMEDIATE DEDUCTION
Expenses for which you may be entitled to an
immediate deduction in the income year you incur
the expense include:
advertising for tenants
bank charge
body corporate fees and charges
cleaning
council rates
electricity and gas
gardening and lawn mowing
in-house audio/video service charges
insurance
building
contents
public liability
interest on loans
land tax
lease document expenses
preparation
registration
stamp duty
legal expenses (excluding acquisition costs and borrowing costs)
mortgage discharge expenses pest control
property agent’s fees and commission
quantity surveyor’s fees
repairs and maintenance
secretarial and bookkeeping fees
security patrol fees
servicing costs – for example, servicing a water heater
stationery and postage
telephone calls and rental
tax-related expenses
travel and car expenses
rent collection
inspection of property
maintenance of property
water charges.
Is The Medicare Levy Surcharge In Your Budget
The Medicare Levy Surcharge (MLS) is additional tax of 1% of your income on top of the 1.5% Medicare Levy.
For the financial year of 2010–11 it will be imposed on people who do not have an appropriate level of private health insurance hospital cover and earn more than $77,000 for singles or $154,000 for couples/families (the family threshold increases by $1,500 for each dependent child after the first). The Australian Taxation Office can provide further information on the definition of dependents.
Who must pay the Medicare Levy Surcharge?
For the financial year of 2010–11, the following people are required to pay the Medicare Levy Surcharge:
Single people with an income in excess of $77,000 who do not have an appropriate level of private hospital cover and families with an income in excess of $154,000 (this income threshold increases by $1,500 for each child after the first) who do not have an appropriate level of private health insurance hospital cover for any part of the year.
General treatment (ancillary or extras) cover is not hospital cover, and you will be liable for the Medicare Levy Surcharge if this is your only private health insurance coverage.
How you can avoid paying the Medicare Levy Surcharge
For the financial year of 2010–11, if you are a single person and you earn more than $77,000 per year, you do not have to pay the Medicare Levy Surcharge if have an appropriate level of private health insurance hospital cover for the whole year.
For the financial year of 2010–11, if you are a couple or family and you earn a combined income of more than $154,000 per year, you do not have to pay the Medicare Levy Surcharge if you have an appropriate level of private health insurance for the whole year.
For the financial year of 2010–11 it will be imposed on people who do not have an appropriate level of private health insurance hospital cover and earn more than $77,000 for singles or $154,000 for couples/families (the family threshold increases by $1,500 for each dependent child after the first). The Australian Taxation Office can provide further information on the definition of dependents.
Who must pay the Medicare Levy Surcharge?
For the financial year of 2010–11, the following people are required to pay the Medicare Levy Surcharge:
Single people with an income in excess of $77,000 who do not have an appropriate level of private hospital cover and families with an income in excess of $154,000 (this income threshold increases by $1,500 for each child after the first) who do not have an appropriate level of private health insurance hospital cover for any part of the year.
General treatment (ancillary or extras) cover is not hospital cover, and you will be liable for the Medicare Levy Surcharge if this is your only private health insurance coverage.
How you can avoid paying the Medicare Levy Surcharge
For the financial year of 2010–11, if you are a single person and you earn more than $77,000 per year, you do not have to pay the Medicare Levy Surcharge if have an appropriate level of private health insurance hospital cover for the whole year.
For the financial year of 2010–11, if you are a couple or family and you earn a combined income of more than $154,000 per year, you do not have to pay the Medicare Levy Surcharge if you have an appropriate level of private health insurance for the whole year.
Sunday, March 27, 2011
How Much Tax Will You Pay
These are the individual tax rates for the 2010/2011 tax year.
This table covers the tax thresholds if you are an Australian resident for the full 2010/2011 income year.
Taxable Income Tax on this Income
$1 - $6,000 NIL
$6,001 - $37,000 15c for each $1 over $6,000
$37,001 - $80,000 $4,650 plus 30c for each $1 over $37,001
$80,001 - $180,000 $17,550 plus 37c for each $1 over $80,001
$180,001 and over $54,550 plus 45c for each $1 over $180,000
This table covers the tax thresholds if you are an Australian resident for the full 2010/2011 income year.
Taxable Income Tax on this Income
$1 - $6,000 NIL
$6,001 - $37,000 15c for each $1 over $6,000
$37,001 - $80,000 $4,650 plus 30c for each $1 over $37,001
$80,001 - $180,000 $17,550 plus 37c for each $1 over $80,001
$180,001 and over $54,550 plus 45c for each $1 over $180,000
Saturday, March 26, 2011
Are You Paying Too Much Eating Out In Perth
One of Australia's leading restaurant reviewers John Lethlean says about Perth
'If you eat out in Perth you are paying too much for inferior food and service' He also goes on to say that if he lived in Perth he would probably do a lot more cooking at home.
I agree with him, it is difficult to find somewhere where the food is great, service good and you haven't overloaded your credit card. I have been researching online for such a place for a family birthday that is coming up soon.
For a family of five on average it would cost around 250 dollars and that's without drinks. It would make sense really to stay at home and cook the Celebration meal yourself. If you had a budget of 100 dollars you could produce a meal that all the family would enjoy. Another plus to eating at home is you can have a few glasses of wine as you do not have to drive home.
'If you eat out in Perth you are paying too much for inferior food and service' He also goes on to say that if he lived in Perth he would probably do a lot more cooking at home.
I agree with him, it is difficult to find somewhere where the food is great, service good and you haven't overloaded your credit card. I have been researching online for such a place for a family birthday that is coming up soon.
For a family of five on average it would cost around 250 dollars and that's without drinks. It would make sense really to stay at home and cook the Celebration meal yourself. If you had a budget of 100 dollars you could produce a meal that all the family would enjoy. Another plus to eating at home is you can have a few glasses of wine as you do not have to drive home.
Friday, March 25, 2011
Are You Paying Too Much Money At The Supermarket
Do you check your shopping receipt on the way out of the Supermarket?
Chances are you do not. I have been overcharged three times week . Today it was just 20 cents on a loaf of bread but the price had not been noticed all day until i returned the bread to the custonmer service. The full amount was returned to my credit card and i got to keep the bread for free.
Did you know that Woolworths run their 'Specials' only Monday to Thursday. The price goes up again on a friday ,just in time for the weekend shoppers.
You could save money by shopping during the week, Monday to Thursday
Chances are you do not. I have been overcharged three times week . Today it was just 20 cents on a loaf of bread but the price had not been noticed all day until i returned the bread to the custonmer service. The full amount was returned to my credit card and i got to keep the bread for free.
Did you know that Woolworths run their 'Specials' only Monday to Thursday. The price goes up again on a friday ,just in time for the weekend shoppers.
You could save money by shopping during the week, Monday to Thursday
Thursday, March 24, 2011
Claim Your Education Tax Refund
Thousands of families are missing out by not claiming the Education Tax Refund.
Do you have a child in primary or high school. If you receive the family payment A then you will be eligible to claim the Education Tax refund. You could get up to 397 dollars for your primary school child and 794 for your high school student.
Take a look at the link below for details of how you can claim.
http://www.educationtaxrefund.gov.au/
Do you have a child in primary or high school. If you receive the family payment A then you will be eligible to claim the Education Tax refund. You could get up to 397 dollars for your primary school child and 794 for your high school student.
Take a look at the link below for details of how you can claim.
http://www.educationtaxrefund.gov.au/
Sunday, March 20, 2011
How You Should Budget Your Tax Refund And Save Money
The Tax Refund if you are due for one is a very welcome source of money . It is welcomed after a few lean months after Christmas, when we all seem to have many bills to pay. The high electricity Bill after running the Air con to the max, then don't forget the school fees and the long book lists ,plus the school uniforms.
So what will you do with your Tax Return?
As a new Property Investor i will be using mine to pay all the bills on my Rental up front. The Council Rates, Water Rates, Insurance, are all due around Tax time. The Tax Refund can also save you money if you clear you credit card,saving on interest.
You can also save money on your mortgage if you deposit the extra funds into that account,then if you have a redraw facility you are able to draw the funds when needed.
So what will you do with your Tax Return?
As a new Property Investor i will be using mine to pay all the bills on my Rental up front. The Council Rates, Water Rates, Insurance, are all due around Tax time. The Tax Refund can also save you money if you clear you credit card,saving on interest.
You can also save money on your mortgage if you deposit the extra funds into that account,then if you have a redraw facility you are able to draw the funds when needed.
Friday, March 18, 2011
How Much Is That Car Loan Really Costing You
You are on the look out for a new Car, well not a new Car . One that is just a couple of years old. You have an idea what sort of Car that you want, you check out the Internet and find what you are looking for at a local Car yard.
The Salesman at the garage will quote you the monthly repayment on the car .If you say that sounds too much , he will increase the time of the loan making the monthly repayment cheaper.
Now would be a good time to check out Car Loans from you bank if you haven't already. The big banks are charging more or less the same as the example that i will give. You need to borrow 25000 dollars as the Car is 27000 but you have a deposit of 2000 dollars. Now it all depends on how many years you take the loan over for how much you will end up paying in interest. If the interest is 12.29% then over one year the repayments will be 2261 dollars a month bringing the total of the loan to 27132. This is how much the car will cost, add the 2000 dollar deposit and the total cost of the Car will be 29132 dollars.
Now if you wanted to take the loan over 5 years then the monthly cost will be 574 dollars bringing the total of the loan to 34440 dollars. Add on the 2000 deposit and the car will now cost 36440 dollars.So you can see from these examples how much the Car loan will really cost.
The Salesman at the garage will quote you the monthly repayment on the car .If you say that sounds too much , he will increase the time of the loan making the monthly repayment cheaper.
Now would be a good time to check out Car Loans from you bank if you haven't already. The big banks are charging more or less the same as the example that i will give. You need to borrow 25000 dollars as the Car is 27000 but you have a deposit of 2000 dollars. Now it all depends on how many years you take the loan over for how much you will end up paying in interest. If the interest is 12.29% then over one year the repayments will be 2261 dollars a month bringing the total of the loan to 27132. This is how much the car will cost, add the 2000 dollar deposit and the total cost of the Car will be 29132 dollars.
Now if you wanted to take the loan over 5 years then the monthly cost will be 574 dollars bringing the total of the loan to 34440 dollars. Add on the 2000 deposit and the car will now cost 36440 dollars.So you can see from these examples how much the Car loan will really cost.
Thursday, March 17, 2011
Spend Time Not Money On Your Lunch
How much are you spending on lunch every day when you are at work?
Then double that if your Partner also buys lunch. For those of you who have children the piece of the Budget is getting bigger.
What if you could save 20 dollars a day by making your own lunch's?
That could be 100 dollars a week, 400 a month, 4800 dollars a year.
The savings could be used to pay off some of your debt, a credit card with a high interest rate. Be prepared by assembling it the night before, so you'll never run out the door without it again.
Then double that if your Partner also buys lunch. For those of you who have children the piece of the Budget is getting bigger.
What if you could save 20 dollars a day by making your own lunch's?
That could be 100 dollars a week, 400 a month, 4800 dollars a year.
The savings could be used to pay off some of your debt, a credit card with a high interest rate. Be prepared by assembling it the night before, so you'll never run out the door without it again.
Tuesday, March 15, 2011
You Could Be Paying Too Much For Your Car Insurance
If your Comprehensive Car Insurance seems to be rather expensive ,you could be paying too much.
How many people just stick with the same Car Insurance company year in year out, i would have thought thousands of you.
If you have also been paying your Car Insurance by direct debit the Insurers know that many of you are too busy to make changes. You get the bill in the mail,open it and think that's expensive,then forget about it until you notice that the money has disappeared out of your bank account.
What if you could save about 50% on your Car Insurance , would that sound good to you?
The Internet has created increasing competition between Insurance companies with you being the winner. For those readers in Australia, AMMI Car Insurance saved me over 50% on a Quote today, take a look at the link.
http://www.aami.com.au/
How many people just stick with the same Car Insurance company year in year out, i would have thought thousands of you.
If you have also been paying your Car Insurance by direct debit the Insurers know that many of you are too busy to make changes. You get the bill in the mail,open it and think that's expensive,then forget about it until you notice that the money has disappeared out of your bank account.
What if you could save about 50% on your Car Insurance , would that sound good to you?
The Internet has created increasing competition between Insurance companies with you being the winner. For those readers in Australia, AMMI Car Insurance saved me over 50% on a Quote today, take a look at the link.
http://www.aami.com.au/
Friday, March 11, 2011
Stop Spending More Than You Earn Now
What is the main reason that most people have no spare money and high debt?
Answer is quite simple they are spending more than they earn and the extra money that is being spent usually comes from credit cards.
How can you get debt free and have spare money left to save?
This is the hard bit for most people but it is easy really. Sit down and make a budget. Work out where you money is going each month. The big items like your mortgage and loans have to come first,then your council and water rates,gas, electric,Insurances,phone ,Internet,school fees. Then petrol,food ,clothes and entertainment. Are you spending more each month than you earn,can you see where the problem areas are?
You may find that you are spending a lot going out for dinner, or that you are spending big on clothes.
Look for areas where you could save ,even if its a small amount. Make sure you pay all your bills first,and then put some money away for savings. If you have high debt on your credit card then pay as much off as you can each month . If you only pay the minimum payment then you end up paying interest on interest.So even if you can not put any money away to save try and pay as much off your credit card as you can.
Answer is quite simple they are spending more than they earn and the extra money that is being spent usually comes from credit cards.
How can you get debt free and have spare money left to save?
This is the hard bit for most people but it is easy really. Sit down and make a budget. Work out where you money is going each month. The big items like your mortgage and loans have to come first,then your council and water rates,gas, electric,Insurances,phone ,Internet,school fees. Then petrol,food ,clothes and entertainment. Are you spending more each month than you earn,can you see where the problem areas are?
You may find that you are spending a lot going out for dinner, or that you are spending big on clothes.
Look for areas where you could save ,even if its a small amount. Make sure you pay all your bills first,and then put some money away for savings. If you have high debt on your credit card then pay as much off as you can each month . If you only pay the minimum payment then you end up paying interest on interest.So even if you can not put any money away to save try and pay as much off your credit card as you can.
Save Money When Shopping For Clothes
Go shopping with out any Credit or store cards. Leave your cash at home too. Just take enough money for a drink. Have a good look at the clothes to see what would fit into your Wardrobe. Have a good try on to see what suits you. Then go home and make a note of what you liked the best and the price. Look out for news of sales .
Then shop with cash for the item that you liked before, hopefuly saving some money with the sale.
Shop out of season, buy Spring and Summer clothes in Autumn and buy your Autumn and Winter clothes in Spring
Spend your wardrobe budget on quality pieces that will not date
Then shop with cash for the item that you liked before, hopefuly saving some money with the sale.
Shop out of season, buy Spring and Summer clothes in Autumn and buy your Autumn and Winter clothes in Spring
Spend your wardrobe budget on quality pieces that will not date
Thursday, March 10, 2011
How To Get Your British State Pension Paid In Australia
Did you leave the UK for a better life out in Australia? Chances are you have been here many years now and if you are a baby boomer you will be starting to think about retirement.
Are you eligible for a British State Pension?
If you paid National Insurance for 11 years for men and 10 years for women then you will be entitled to 25% of the State Pension. It goes up by each year you were working. For women who were not working for long periods due to home duties this time can also count.
Take a look at the UK Government web site for the full information
http://www.hmrc.gov.uk/index.htm
Are you eligible for a British State Pension?
If you paid National Insurance for 11 years for men and 10 years for women then you will be entitled to 25% of the State Pension. It goes up by each year you were working. For women who were not working for long periods due to home duties this time can also count.
Take a look at the UK Government web site for the full information
http://www.hmrc.gov.uk/index.htm
Tuesday, March 8, 2011
Best Places To Eat in Perth
What are the best places to eat in Perth? Take a look at Eating WA. It is free to join and you could win 1 of 10 restaurant vouchers worth 100 dollars each.
http://www.eatingwa.com.au/index.php
http://www.eatingwa.com.au/index.php
Monday, March 7, 2011
Top Ten Free Things To Do In Perth
If you are planning a trip to Perth or maybe you live here but are looking for some great days out. Take a look at these free things to do and enjoy Western Australia.
http://www.westernaustralia.com/en/Things_to_See_and_Do/Must_See_and_Do/Pages/Top_10_Free_Things_to_do_in_Perth.aspx
http://www.westernaustralia.com/en/Things_to_See_and_Do/Must_See_and_Do/Pages/Top_10_Free_Things_to_do_in_Perth.aspx
Sunday, March 6, 2011
How to Get Out Of Debt When You Are 24
Well you had a go at leaving home and Renting, the trouble with it all, it costs so much.
Now you have maxed out your credit card, You owe money to your family. The Bills are piling up. You really needed to have foxtell and the Internet.It was a pity that you did not get time to use them. Well, there was all that washing and ironing to do. Then having to cook dinner every night and the sink was always full of dirty dishes.
There is a glimmer of hope, your Mum and Dad say that you can move back home. Well eh ,go on then!
First pay all the Bills that you still have for the rental.
Think about changing over your credit card for one that has low interest for the first 6 months, this way you can save on the amount of interest you will pay .Try to pay as much off as you can each month.
Then pay back what you owe to your family
Don't be planning any holidays untill you are Dept free.
Now you have maxed out your credit card, You owe money to your family. The Bills are piling up. You really needed to have foxtell and the Internet.It was a pity that you did not get time to use them. Well, there was all that washing and ironing to do. Then having to cook dinner every night and the sink was always full of dirty dishes.
There is a glimmer of hope, your Mum and Dad say that you can move back home. Well eh ,go on then!
First pay all the Bills that you still have for the rental.
Think about changing over your credit card for one that has low interest for the first 6 months, this way you can save on the amount of interest you will pay .Try to pay as much off as you can each month.
Then pay back what you owe to your family
Don't be planning any holidays untill you are Dept free.
How To Save Money When You Are 20 Years Old
Save up and pay cash for your Car, do not get a Car Loan.
Be the Skipper on a night out. Water is free and then there is no taxi fare to pay on the way home.
Eat at home its free.
Work in a Bar, its kind of like going out as you are in that environment, then there are the free Staff drinks at the end of the night.
Save money on Car parts by searching e-bay. This can save you quite a few dollars even if you buy internationally.
Give your Family DVDs for Christmas. One's that you wanted to see yourself.
Take the money out of your wallet and see how long you can go without spending anything
Be the Skipper on a night out. Water is free and then there is no taxi fare to pay on the way home.
Eat at home its free.
Work in a Bar, its kind of like going out as you are in that environment, then there are the free Staff drinks at the end of the night.
Save money on Car parts by searching e-bay. This can save you quite a few dollars even if you buy internationally.
Give your Family DVDs for Christmas. One's that you wanted to see yourself.
Take the money out of your wallet and see how long you can go without spending anything
Saturday, March 5, 2011
How To Save Money At The Supermarket
We all know how to do this right? Wrong. We are all spending too much at the Supermarket with a lot of food going to waste. You would not throw a 10 or 20 dollar note into the bin, but over buying on food is just the same.
Follow these tips and could have some money left in your purse.
Try and shop for a few days ,rather than a week or two weeks as some people do.This way you have more of a chance of finding food items on special.
Write a list and stick to it. Go by yourself, you will not become distracted and there will be no one else putting food into the Trolley.
Do not go shopping when you are hungry or you may find yourself picking up bars of Chocolate or packets of Biscuits. The same goes for when you are thirsty, those bottles of soft drink never looked as good.
Check the prices of the home brands compared to the named goods ,you can find a big saving here on lots of items from Paper Napkins to Tins of Tuna.
Always check your receipt. At least once a week i get over charged, usually on fruit and veg or an item that has been put on special. If the mistake is caused by the correct price not scaning, then they have to give you your money back and the item for free.
Follow these tips and could have some money left in your purse.
Try and shop for a few days ,rather than a week or two weeks as some people do.This way you have more of a chance of finding food items on special.
Write a list and stick to it. Go by yourself, you will not become distracted and there will be no one else putting food into the Trolley.
Do not go shopping when you are hungry or you may find yourself picking up bars of Chocolate or packets of Biscuits. The same goes for when you are thirsty, those bottles of soft drink never looked as good.
Check the prices of the home brands compared to the named goods ,you can find a big saving here on lots of items from Paper Napkins to Tins of Tuna.
Always check your receipt. At least once a week i get over charged, usually on fruit and veg or an item that has been put on special. If the mistake is caused by the correct price not scaning, then they have to give you your money back and the item for free.
Pay Less Pay Cash
Pay Less Pay Cash, a slogan from a well known Retail Outlet who sells white goods and Televisions .
I was in the market this week for a Reverse Cycle Split System Air Conditioner. What i have done before when i have been on the lookout for the best buy, is to visit at least 3 Retailers to compare the price on the same item, always asking the sales person for their best price for cash.
This week i found the same Retailers on line and saved myself some time by making a few phone calls. The best buy came in at 468 dollars less than their advertised price. This was the one i went for. So it really pays to shop around.
I was in the market this week for a Reverse Cycle Split System Air Conditioner. What i have done before when i have been on the lookout for the best buy, is to visit at least 3 Retailers to compare the price on the same item, always asking the sales person for their best price for cash.
This week i found the same Retailers on line and saved myself some time by making a few phone calls. The best buy came in at 468 dollars less than their advertised price. This was the one i went for. So it really pays to shop around.
Top Tips For Buying A New Car
5 Top Tips For Buying A New Car In Australia
Author: Tom Becker
The current economic climate is definitely taking its toll on the car sales market in Australia, as well as around the world. So why not take advantage of this unfortunate situation by purchasing a new car? Car companies and their dealerships are well aware that they cannot demand the same high marked-up prices for their vehicles, and therefore, the best time to bargain hunt in Australia for a new car is now. So where do you start?
Here are our top 5 tips to help you get the best deal possible during these tough economic times:
1. Set Your Budget
Before you jump into your car search, first you must decide the maximum amount that you are willing to spend on a new vehicle. There is always room for negotiation when it comes to car dealer's prices, especially in Australia's current economic climate, so you may not spend as much as you are prepared to pay, but do stick to your budget. Prepare yourself for the chance that you may have to walk away if the salesman will not take your offer, but with a bit of luck, the salesman or their manager will be calling you up in no time to meet your terms.
2. Study Up
Once you have set a budget for your car purchase, it is time to decide what cars would be within your budget (or a little over, within reason). Once you have decided upon some models and makes that you are interested in, use the internet to your advantage and do some research online. This way, when you go into an Australian dealership or speak to the vendor you are in a strong position to haggle. Look to see if there are any similar vehicles for sale elsewhere and see how the prices compare. Even if you are buying a brand new car, the dealer will have room for negotiating the price.
3. Get Serious about Buying
Australian dealerships and their salesman will work much harder if they think they are going to get a signature, so let them know you are there to buy a car if the deal is right. However, don't come across as desperate to buy as this could reduce your chances of picking up a bargain. Try as hard as possible to play it cool, and as aforementioned, be prepared to walk away if no agreement was met- this does not mean the deal is over.
4. Get More for Your Trade
This may be the most difficult of the five steps to achieve, because even though the current recession in Australia places the buyer in the driver's seat (no pun intended), the sellers are working at a loss majority of the time. Trading your current vehicle at the dealership is the simplest option, but it is usually the best way to get the least amount of money in return. You will definitely get more money out of your vehicle if you sell privately; however, if at all possible, the best option of all may be to hold on to your car until the market gains strength again so that you can sell with a smaller loss.
5. Shop around for finance and extras
If you are planning on financing your new vehicle, be sure to not be lured in by any attractive finance offers and stick to negotiations over the sale price instead. Do not just focus on your monthly payments, but instead focus on the cost of the vehicle over the term of the loan as well as the terms of the loan. Along these lines, do not be lured by extra incentives such as insurance coverage included or breakdown coverage, as these "extras" sometimes come with an extra amount of money over the term of your repayment as well.
So stay smart, play it cool, and be wary of extras and special deals, and you should be on your way to finding the best deal possible on your new vehicle today!
Article Source: http://www.articlesbase.com/cars-articles/5-top-tips-for-buying-a-new-car-in-australia-784871.html
About the Author
Tom Becker is a writer for a popular Australian money comparison website which compares everything from credit cards and savings accounts to cheap secured car loans online. Read more of his money saving tips on their website.
Friday, March 4, 2011
Maximise Your Tax Return
Are you a first time Property Investor? To maximise your tax deductions it is recommended that you get a Depreciation Schedule from a Quantity Surveyor.
Depreciation is the wear and tear on building and equipment.
The cost is normally around 600 dollars but this fee can also be claimed. You will be able to use the report at tax time for every year that you own the property.
Take a look at the link for some recommended Quantity Surveyor's in Australia.
http://www.deppro.com/
http://www.washingtonbrown.com.au/
Depreciation is the wear and tear on building and equipment.
The cost is normally around 600 dollars but this fee can also be claimed. You will be able to use the report at tax time for every year that you own the property.
Take a look at the link for some recommended Quantity Surveyor's in Australia.
http://www.deppro.com/
http://www.washingtonbrown.com.au/
Best Time Of The Year,Tax Time
Only four months to go to the best time of the year. Christmas ,i hear you say, no Tax Time.
If you think that Christmas is the best time of the year then you may still have Christmas dept at the end of June.
This year will be even more exciting at tax time as it will be the first year of owning and running an investment property.
For those who are in the same boat, we will be hoping that it has all been worth it. With property the price that it is today the new investor has a big short fall to make up on his Interest Only Investment loan. Here are a few tips that i have picked up, hopefully you know them already.
If you keep the property for a year and a day you only pay Capital Gains Tax on 50% of the profits when selling your investment home. Your selling costs can also come off your Capital Gains Tax.
Save all your receipts for maintaining your Property.Every trip you make to Bunnings for items such as plants for the garden, security lights ,paint can all be claimed at tax time.
If you think that Christmas is the best time of the year then you may still have Christmas dept at the end of June.
This year will be even more exciting at tax time as it will be the first year of owning and running an investment property.
For those who are in the same boat, we will be hoping that it has all been worth it. With property the price that it is today the new investor has a big short fall to make up on his Interest Only Investment loan. Here are a few tips that i have picked up, hopefully you know them already.
If you keep the property for a year and a day you only pay Capital Gains Tax on 50% of the profits when selling your investment home. Your selling costs can also come off your Capital Gains Tax.
Save all your receipts for maintaining your Property.Every trip you make to Bunnings for items such as plants for the garden, security lights ,paint can all be claimed at tax time.
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