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-   -   Pomms/Aussies Obsessed By Property (https://britishexpats.com/forum/australia-54/pomms-aussies-obsessed-property-472452/)

windog Aug 8th 2007 10:14 am

Re: Pomms/Aussies Obsessed By Property
 

Originally Posted by The S's (Post 5162682)
:thumbsup:

Not really.

realistically my mortgage payments will become more affordable whilst your rent will go up year after year. When I retired i will have paid off my mortgage (hopefully) while you still have to fork out for your rent.
Also I have no intension of leaving my house to my kids, I will down size and buy a big F off boat.
They can buy their own property, I had to.:thumbsup:


:rofl::thumbsup:

tracey.d Aug 8th 2007 10:30 am

Re: Pomms/Aussies Obsessed By Property
 

Originally Posted by The S's (Post 5162682)
:thumbsup:

Not really.

realistically my mortgage payments will become more affordable whilst your rent will go up year after year. When I retired i will have paid off my mortgage (hopefully) while you still have to fork out for your rent.
Also I have no intension of leaving my house to my kids, I will down size and buy a big F off boat.
They can buy their own property, I had to.:thumbsup:

I'm with you on that one :D

Have told my kids that when I'm older I will sell my house (if I have one, lol) and travel the world :thumbup:

ozzieeagle Aug 8th 2007 10:30 am

Re: Pomms/Aussies Obsessed By Property
 

Originally Posted by The S's (Post 5162682)
:thumbsup:

Not really.

realistically my mortgage payments will become more affordable whilst your rent will go up year after year. When I retired i will have paid off my mortgage (hopefully) while you still have to fork out for your rent.
Also I have no intension of leaving my house to my kids, I will down size and buy a big F off boat.
They can buy their own property, I had to.:thumbsup:


I'll be selling my house at a reduced rate, to all 4 of my kids jointly, paying them rent at a lower rate, signed sealed and dotted and crossed by a solicitor.. This will ensure that there will be no nursing home "entry' fees (current law) to ever be paid by myself or my wife.

The amount I will sell them will be determined by how much government pension is available on top of our super funds, which will be placed into an annuity. With the funds from the house going to the max figure where one can still claim the maximum government pension.

That loophole will probably be stopped by the next incoming government unfortunately.

Nu-Shooz Aug 8th 2007 10:56 am

Re: Pomms/Aussies Obsessed By Property
 

Originally Posted by datamile (Post 5162628)
And negative gearing is the big seller. Lose money while you rental out your 5 properties, claim it back against your income tax, and pay no tax while your investment value grows

I never did understand negative gearing:confused: it scares me.

I'm all for making money, but i wouldn't let it take over my life. I want to enjoy it while i can without worrying how much more i can make all the time.

doub Aug 8th 2007 11:12 am

Re: Pomms/Aussies Obsessed By Property
 

Originally Posted by Nu-Shooz (Post 5162857)
I never did understand negative gearing:confused: it scares me.

I'm all for making money, but i wouldn't let it take over my life. I want to enjoy it while i can without worrying how much more i can make all the time.

negative gearing is only really benefitial if you have a huge capital gain, having said that, if you keep a property long enough (perticulaly here in SE Q) the gain will come. It's all about building wealth by having various properties as a tax loss paying off your principal. We really don't want to use our allready taxed, hard earned $$ to pay off the mortgage - way too hard

sonlymewalter Aug 8th 2007 11:32 am

Re: Pomms/Aussies Obsessed By Property
 

Originally Posted by ozzieeagle (Post 5162764)
I'll be selling my house at a reduced rate, to all 4 of my kids jointly, paying them rent at a lower rate, signed sealed and dotted and crossed by a solicitor.. This will ensure that there will be no nursing home "entry' fees (current law) to ever be paid by myself or my wife.

The amount I will sell them will be determined by how much government pension is available on top of our super funds, which will be placed into an annuity. With the funds from the house going to the max figure where one can still claim the maximum government pension.

That loophole will probably be stopped by the next incoming government unfortunately.

I looked at doing same m8. Accountant said our kids might end up paying 48% Tax if it is seen as there second home in other woprds an investment. You might get around it if you give;) it to your kids 7 years before you pop yur clogs ;)

The S's Aug 8th 2007 11:34 am

Re: Pomms/Aussies Obsessed By Property
 

Originally Posted by ozzieeagle (Post 5162764)
I'll be selling my house at a reduced rate, to all 4 of my kids jointly, paying them rent at a lower rate, signed sealed and dotted and crossed by a solicitor.. This will ensure that there will be no nursing home "entry' fees (current law) to ever be paid by myself or my wife.

The amount I will sell them will be determined by how much government pension is available on top of our super funds, which will be placed into an annuity. With the funds from the house going to the max figure where one can still claim the maximum government pension.

That loophole will probably be stopped by the next incoming government unfortunately.

Jeeeez, you've really thought about this one hey.
I still prefer the big F$#K off boat option:thumbup:

sonlymewalter Aug 8th 2007 11:37 am

Re: Pomms/Aussies Obsessed By Property
 

Originally Posted by The S's (Post 5162966)
Jeeeez, you've really thought about this one hey.
I still prefer the big F$#K off boat option:thumbup:


yeh sod the kids:eek::thumbsup::lol:

chrisandvee Aug 8th 2007 11:41 am

Re: Pomms/Aussies Obsessed By Property
 
Yeah but then the greedy little bastards get the boat too when you pop your clogs:rofl:

datamile Aug 8th 2007 11:47 am

Re: Pomms/Aussies Obsessed By Property
 

Originally Posted by chrisandvee (Post 5162998)
Yeah but then the greedy little bastards get the boat too when you pop your clogs:rofl:

Do it viking style and burn with the boat !!

The S's Aug 8th 2007 11:49 am

Re: Pomms/Aussies Obsessed By Property
 

Originally Posted by chrisandvee (Post 5162998)
Yeah but then the greedy little bastards get the boat too when you pop your clogs:rofl:

I'd rather scuttle the [email protected]%#rd:curse:
I will leave it to a band of Indonesian people traffickers for a bag of jakarta wacky baccy:thumbsup:
Or I could sell it to Mercedes Corby so she could break her "innocent" drug mule sister out.

tictac Aug 8th 2007 11:59 am

Re: Pomms/Aussies Obsessed By Property
 

Originally Posted by Vim Fuego (Post 5162629)
This is what gets me sometimes about the immigration thing, is it just another thing to pursue (the 'If I get there I will finally be happy' mentality)?

Indeed...........

"Tucked away in our subconscious minds is an idyllic vision. We see ourselves on a long, long trip that almost spans the continent. We're traveling by passenger train, and out the windows we drink in the passing scene of cars on nearby highways, of children waving at a crossing, of cattle grazing on a distant hillside, of smoke pouring from a power plant, of row upon row of corn and wheat, of flatlands and valleys, of mountains and rolling hills, of biting winter and blazing summer and cavorting spring and docile fall.

But uppermost in our minds is the final destination. On a certain day at a certain hour we will pull into the station. There sill be bands playing, and flags waving. And once we get there so many wonderful dreams will come true. So many wishes will be fulfilled and so many pieces of our lives finally will be neatly fitted together like a completed jigsaw puzzle. How restlessly we pace the aisles, damning the minutes for loitering ... waiting, waiting, waiting, for the station.

However, sooner or later we must realize there is no one station, no one place to arrive at once and for all. The true joy of life is the trip. The station is only a dream. It constantly outdistances us.

"When we reach the station, that will be it !" we cry. Translated it means, "When I'm 18, that will be it ! When I buy a new 450 SL Mercedes Benz, that will be it ! When I put the last kid through college, that will be it ! When I have paid off the mortgage, that will be it ! When I win a promotion, that will be it ! When I reach the age of retirement, that will be it ! I shall live happily ever after !"

Unfortunately, once we get it, then it disappears. The station somehow hides itself at the end of an endless track.

"Relish the moment" is a good motto, especially when coupled with Psalm 118:24: "This is the day which the Lord hath made; we will rejoice and be glad in it." It isn't the burdens of today that drive men mad. Rather, it is regret over yesterday or fear of tomorrow. Regret and fear are twin thieves who would rob us of today.

So, stop pacing the aisles and counting the miles. Instead, climb more mountains, eat more ice cream, go barefoot oftener, swim more rivers, watch more sunsets, laugh more and cry less. Life must be lived as we go along. The station will come soon enough.:"

The Station
by Robert J. Hastings

scottyboy Aug 8th 2007 12:40 pm

Re: Pomms/Aussies Obsessed By Property
 

Originally Posted by tictac (Post 5163057)
Indeed...........

"Tucked away in our subconscious minds is an idyllic vision. We see ourselves on a long, long trip that almost spans the continent. We're traveling by passenger train, and out the windows we drink in the passing scene of cars on nearby highways, of children waving at a crossing, of cattle grazing on a distant hillside, of smoke pouring from a power plant, of row upon row of corn and wheat, of flatlands and valleys, of mountains and rolling hills, of biting winter and blazing summer and cavorting spring and docile fall.

But uppermost in our minds is the final destination. On a certain day at a certain hour we will pull into the station. There sill be bands playing, and flags waving. And once we get there so many wonderful dreams will come true. So many wishes will be fulfilled and so many pieces of our lives finally will be neatly fitted together like a completed jigsaw puzzle. How restlessly we pace the aisles, damning the minutes for loitering ... waiting, waiting, waiting, for the station.

However, sooner or later we must realize there is no one station, no one place to arrive at once and for all. The true joy of life is the trip. The station is only a dream. It constantly outdistances us.

"When we reach the station, that will be it !" we cry. Translated it means, "When I'm 18, that will be it ! When I buy a new 450 SL Mercedes Benz, that will be it ! When I put the last kid through college, that will be it ! When I have paid off the mortgage, that will be it ! When I win a promotion, that will be it ! When I reach the age of retirement, that will be it ! I shall live happily ever after !"

Unfortunately, once we get it, then it disappears. The station somehow hides itself at the end of an endless track.

"Relish the moment" is a good motto, especially when coupled with Psalm 118:24: "This is the day which the Lord hath made; we will rejoice and be glad in it." It isn't the burdens of today that drive men mad. Rather, it is regret over yesterday or fear of tomorrow. Regret and fear are twin thieves who would rob us of today.

So, stop pacing the aisles and counting the miles. Instead, climb more mountains, eat more ice cream, go barefoot oftener, swim more rivers, watch more sunsets, laugh more and cry less. Life must be lived as we go along. The station will come soon enough.:"

The Station
by Robert J. Hastings

YUP! I dig that :thumbsup:

ozzieeagle Aug 8th 2007 1:30 pm

Re: Pomms/Aussies Obsessed By Property
 

Originally Posted by The S's (Post 5162966)
Jeeeez, you've really thought about this one hey.
I still prefer the big F$#K off boat option:thumbup:

Lol, yehp got to admit your idea is far more exciting.

ozzieeagle Aug 8th 2007 1:35 pm

Re: Pomms/Aussies Obsessed By Property
 

Originally Posted by sonlymewalter (Post 5162962)
I looked at doing same m8. Accountant said our kids might end up paying 48% Tax if it is seen as there second home in other woprds an investment. You might get around it if you give;) it to your kids 7 years before you pop yur clogs ;)


Yes must ask about that aspect, dont want to cripple them.


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