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Thread ID: 106691	2010-01-19 06:35:00	Mortgage question.	Nomad (952)	PC World Chat

Post ID	Timestamp	Content	User
849931	2010-01-20 04:31:00	Not got the deposit yet. I rather pick up a good book than involve another salesman :p	Nomad (952)
849932	2010-01-20 04:45:00	Not got the deposit yet. I rather pick up a good book than involve another salesman :p Over to you but the advice I got was free and up to date.	Sweep (90)
849933	2010-01-20 05:52:00	Over to you but the advice I got was free and up to date. Free ?? He almost certainly got paid by the bank he recommended, so how do you know he recommended the best deal for you or the best deal for him??	decibel (11645)
849934	2010-01-20 06:01:00	Free ?? He almost certainly got paid by the bank he recommended, so how do you know he recommended the best deal for you or the best deal for him?? Well she recommended I go see my bank and did not ask who I was banking with so I don't think she got paid.	Sweep (90)
849935	2010-01-20 08:58:00	Yea will be a small handful of people that legitimately live in two houses, I guess if neither are rented out they could be exempt from CGT. There are a lot, some people live in the city in the week, and live in the country on their lifestyle blocks in the weekend.	robbyp (2751)
849936	2010-01-20 09:43:00	Its amazing how many people boast how much their house is worth and equate that with personal wealth i.e. having the same amount of money in the bank. They compare how much the house cost them with its current value but don't seem to factor in the interest they have paid or expenditure on maintenance, improvements, insurance etc. Then they sell the house and have to spend the money on a new place to live. Great if you move from Auckland to Bluff, not so good the other way round. In response to earlier queries about interest only mortgages, there used to be a system in the UK where you borrowed money based on an endowment (insurance) policy. You only paid interest on the mortgage and monthly premiums on the endowment. In theory the value of the endowment increased over time (with annual bonuses) and you repaid the borrowed money when the endowment matured. If you were lucky the matured value was enough to repay the borrowing. I don't know if these survived the recent financial crash. Martynz	martynz (5445)
849937	2010-01-20 19:33:00	Keep in mind many that have investment property do so under LAQC. To claim tax back the location of the investment property is given along with a crap load of other stuff. Some may claim back so much and pay no tax to their day job, with a LAQC arrangement. As a result no income they may get govt subsidy and welfare support too ...... :illogical How about doing a LAQC get all the rebates, rent it out and then turn it back to a non LAQC and they live in themselves :lol: On that note buy a 2nd car like a ute, a trailer and a towbar and file it back to the investment property as a business cost :eek: While children get taxed in the bank, beneficiaries get taxed or those who are saving for a house deposit and pay tax.	Nomad (952)
849938	2010-01-20 19:44:00	Thats where the gambling is, if you bet on house prices always gaining, Depends who you look at it. If you are a property speculator well perhpas not. But that's not what I am talking about. I am talking about buying a house and living in it forever. The odd bit of maintenance and redecoration, not ripping it apart and rebuilding it. Nor selling and buying another bigger better one all the time either. Like my friends Grandma that bought one in Takapuna a very very long time ago. She still had it when she died, it was more or less the same too apart from like I said, maintenance and decorating. The family got a small fortune for it.	pctek (84)
849939	2010-01-20 20:00:00	Some may claim back so much and pay no tax to their day job, with a LAQC arrangement . As a result no income they may get govt subsidy and welfare support too . . . . . . :illogical How about doing a LAQC get all the rebates, rent it out and then turn it back to a non LAQC and they live in themselves :lol: On that note buy a 2nd car like a ute, a trailer and a towbar and file it back to the investment property as a business cost :eek: While children get taxed in the bank, beneficiaries get taxed or those who are saving for a house deposit and pay tax . Yea we just sold our investment property LAQC as we couldn't be bothered with tenants . If you leave your "one" house to go renting and turn it into a LAQC its a false economy you are not really making money, well if you are its not worth the hassle . Your right though on a 2nd property with LAQC you can gear it to not pay much personnel tax . Just load up the mortgage on the investment property so the business is making a clear loss (claim it back from personnel income tax) . Some people are not cut out to be landlords, if you are honest and trusting, and willing to cut people some slack because they are having a hard time on the condition they will pay you when they SWEAR they will, don't go into the business lol . If your cold and have the guts to ignore the tenancy laws which is HEAVILY stacked in the tenants favor, then maybe you will do ok in investment property .	Battleneter2 (9361)
849940	2010-01-20 20:28:00	Hey is CGT payable on LAQC? I know if it a normal 2nd house, no LAQC for 10yrs or more, no CGT. How does that change for a LAQC scenario? Since it is a business thing, CGT would be in it right ..... PS. After seeing the news re: changes in tax and property as a proposal I kinda agree in principle thou that LAQC is up to abuse. A child with pocket money in bank pay tax or a beneficiary but not a LAQC - some can avoid all tax, some can get minimise them hey does that mean I can get working for family and accom supplement now? Landlordsworking so cannot get the main dole thou ..... When one convert to non LAQC are the benefits need to be return to the authorities? Seems unfair, you get the LAQC perks then now change your mind, you going to live in instead and keep the change.	Nomad (952)
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