Posts by recordari
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Speaker: John and Phil meet Bob, in reply to Gareth Ward,
Tindall, Fyfe, Jeremy Moon et al have been talking about this for a while - I believe this is just a formal crystallisation of the group.
Umm, yes I saw the news report. I was wondering if they have any political connections or lobbying power. Would seem a good fit for the Greens, but not sure the big business backers would suit them.
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Speaker: John and Phil meet Bob, in reply to James Butler,
ETA: Reply fail, meant for Craig. 100% certain I didn't press the wrong "Reply" button.
I've been here so many times I've lost count. IME it is human error, but you can quote from one post, and accidentally hit reply on another, and it credits to whomever the Reply button was under.
If I could be so bold, could I suggest two possible fixes?
1) Make the Reply function part of the 'Edit' feature, so it can be changed if wrong.
2) If you 'quote' text from one post, but reply from another, have an error message pop up 'Quote and Reply do not match' or something.Sheepishly hoping this is more helpful than mansplainful.
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Speaker: John and Phil meet Bob, in reply to Sacha,
(hey, when did that attachment button appear?)
The notion is somewhat scary. As an 'evidence based' blog, I hope you have a lot of disk space free.
Well, Phil, you picked a lousy time to turrn me off. :)
I have the feeling that Winston Peters and the Greens will do very well out of this, if they just keep their mouth's shut.
Personally, the Greens are looking rosier then I would ever have expected. What's the deal with this 'Pure Advantage' group?
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Hard News: #NetHui: it's all about you, in reply to nzlemming,
I hold you to blame for destroying my productivity for the last day
I thought 'huh, I'll just take a quick look. Can't be that compelling'. How wrong was I?
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Hard News: About Arie, in reply to Russell Brown,
Understandably so: the building was a shop damaged and abandoned after the September quake, months before. It was going to be demolished, for goodness sake.
So basically the only 'crime' was withholding salvageable material from the demolition contractors. Unbelievable.
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Hard News: A Capital Idea?, in reply to BenWilson,
20% was what I had to get for my place, being self-employed. But I'm almost thinking it should be higher for investment property, something around 30%
I'd prefer it was 50% myself for investment, and 30% standard, but there goes me showing my utopian idealism. In this utopia house prices would be on average $250,000*. Without raising the 'banks are evil' meme, banks are evil.
Having said that, we got 'into the market' on 10%, so that would have been a challenge for us.
ETA * Household Incomes as a proportion of Housing Values would also be more favourable.
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Hard News: A Capital Idea?, in reply to Matthew Poole,
Once you can't deduct large losses from the property to offset against your personal income, you're better to make an annual net profit and treat the capital gain as gravy. Thinking so far has been to make an annual net loss and use the capital gain to make up for it.
That seems to make a lot of sense. I mean in terms of understanding the per-capital-mutations. Thanks.
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Hard News: A Capital Idea?, in reply to Paul Campbell,
As I mentioned up-thread in the US you carry forward any capital gains in the family home as you traded up, so no payments, just some behind the scenes tax accounting
Thanks, I was wondering how this might work. You’re not exactly ‘gaining’ if you just briefly realised the equity in your house and then borrowed more against it to move on somewhere else.
You could think of it essentially the same way you can think of GST.
I’m trying, but so far I can’t. AFAIK, unless you are a ‘property trader’, or buying commercial property from a GST registered seller, you don’t pay GST when purchasing property.
Although I didn’t find this explanation by the Investment Property People very helpful either.
Do I pay GST?
If you claim GST on the purchase price, you will pay GST on any rent received and pay GST when you sell the property. Your purchasing entity would need to be registered for GST.
We will be paying GST on the sale price of the property to you. There is no GST payable by the investor on the price we sell to you for.
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Hard News: A Capital Idea?, in reply to BenWilson,
I’d just like to note, for the record, early in the thread, that the considerable family fortune I will most likely inherit a piece of is all in investment property. I could lose a lot from this tax.
FTR, apart from our own house, none of the family... 'investments' are in property. Property investment is generally backed by servicing debt, which, FWIS, is a false economy. And, as Russell has described, is a non-productive investment.
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Hard News: #NetHui: it's all about you, in reply to BenWilson,
a big sack of case
Tautology, surely. ;-)