I know I should ask an accountant this question, but I figure I'll start
here first.
I'm just about to take ownership of a new unit in Brisbane and I am more
than likely going to move O/S within 3-4 months of moving in.
Can anyone advise is it possible to negative gear a property if I'm earning
income O/S (probably Uk or Canada)? Ie if I'm not earning income here (apart
from the rent from the property), what do I offset the interest paid
against?
I'm just deliberating whether to sell the place (fairly substantial profit
as it was bought off the plan approx. 18 months ago) or keep it and rent it.
Thanks
Shonky
"Tom N" <tom@no-spam> wrote in message news:<5V4Pa.546$Uz3.375@no-spam>...
> If you can sell for a profit now, then I'd say do so. There is no guarantee
> you will be able to do so later.
>
> You can always get and estimate of rent and sale price from an agent (or a
> registered valuer) and make your judgement from there.
>
> If you are not earning income here apart from the rent then it is likely
> cannot offset the interest and expenses where they exceed the rent.
> According to most investment books I've read, the cost of owenership (agent
> fees, insurance etc) should amount to approx 1/3rd of the rent.
>
> Are you likely to move back here?
> How likely is it that you are moving O/S? You don't even know what country
> yet, so it seems like it is possible it may not happen.
> Do you really want to run an investment property from overseas? You won't
> be able to drive by and make sure it is still standing or go and harass the
> agent in person. It will complicate your tax return and may mean you have
> to complete a return in each country.
>
> People I've known who have moved interstate and rented out their house have
> vowed never again (and that's just interstate).
>
> "Shonky" <Shonky@no-spam> wrote in message
> news:IvROa.209$Uz3.150@no-spam
> > I know I should ask an accountant this question, but I figure I'll start
> > here first.
> >
> > I'm just about to take ownership of a new unit in Brisbane and I am more
> > than likely going to move O/S within 3-4 months of moving in.
> >
> > Can anyone advise is it possible to negative gear a property if I'm
> earning
> > income O/S (probably Uk or Canada)? Ie if I'm not earning income here
> (apart
> > from the rent from the property), what do I offset the interest paid
> > against?
> >
> > I'm just deliberating whether to sell the place (fairly substantial profit
> > as it was bought off the plan approx. 18 months ago) or keep it and rent
> it.
Go and get stuffed ya fuckin cunt.--WW
On Sun, 13 Jul 2003 22:16:35 +1000, Tim Josling
<tej_at_melbpc.org.au_rubbish@no-spam> wrote:
>Two people I know rented out their houses when overseas. In both cases
>the repairs required upon return exceeded the rent received.
Good tenants are very, very hard to find.
Much harder than finding investment properties.
Bad tenants totally negate the purpose of having
a property as an investment. ;-(
Beware of real estate agent's hype!
regards Xylord