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Pomms/Aussies Obsessed By Property

Pomms/Aussies Obsessed By Property

Old Aug 8th 2007, 10:14 am
  #16  
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by The S's View Post


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.

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Old Aug 8th 2007, 10:30 am
  #17  
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by The S's View Post


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.
I'm with you on that one

Have told my kids that when I'm older I will sell my house (if I have one, lol) and travel the world
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Old Aug 8th 2007, 10:30 am
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by The S's View Post


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.

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.

Last edited by ozzieeagle; Aug 8th 2007 at 10:35 am.
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Old Aug 8th 2007, 10:56 am
  #19  
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by datamile View Post
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 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.
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Old Aug 8th 2007, 11:12 am
  #20  
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by Nu-Shooz View Post
I never did understand negative gearing 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
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Old Aug 8th 2007, 11:32 am
  #21  
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by ozzieeagle View Post
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
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Old Aug 8th 2007, 11:34 am
  #22  
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by ozzieeagle View Post
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
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Old Aug 8th 2007, 11:37 am
  #23  
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Default Re: Pomms/Aussies Obsessed By Property

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

yeh sod the kids
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Old Aug 8th 2007, 11:41 am
  #24  
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Default Re: Pomms/Aussies Obsessed By Property

Yeah but then the greedy little bastards get the boat too when you pop your clogs
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Old Aug 8th 2007, 11:47 am
  #25  
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by chrisandvee View Post
Yeah but then the greedy little bastards get the boat too when you pop your clogs
Do it viking style and burn with the boat !!
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Old Aug 8th 2007, 11:49 am
  #26  
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by chrisandvee View Post
Yeah but then the greedy little bastards get the boat too when you pop your clogs
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
Or I could sell it to Mercedes Corby so she could break her "innocent" drug mule sister out.
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Old Aug 8th 2007, 11:59 am
  #27  
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by Vim Fuego View Post
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
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Old Aug 8th 2007, 12:40 pm
  #28  
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by tictac View Post
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

Last edited by scottyboy; Aug 8th 2007 at 12:45 pm. Reason: still can't spell
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Old Aug 8th 2007, 1:30 pm
  #29  
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by The S's View Post
Jeeeez, you've really thought about this one hey.
I still prefer the big F$#K off boat option
Lol, yehp got to admit your idea is far more exciting.
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Old Aug 8th 2007, 1:35 pm
  #30  
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Default Re: Pomms/Aussies Obsessed By Property

Originally Posted by sonlymewalter View Post
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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