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An A/C 911 is fun. Paying off a huge mortgage whilst juggling priorities trying to raise a happy family in a desperate city environment is not. I wonder why people do it?
I guess it's seen to be harder outside the city?
(Some) Europeans have a better approach. Many don't even bother with mortgages , which opens up a whole new lifestyle of fashion , exotic cars and travel.
Some Australians also.

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1 hour ago, Raven said:

As I mentioned above I have a large property that will hopefully be sold in the next 5 years or so ....In regards to it being tax free my accountant tells me that I have to pay capital gains Tax on 20 acres of the 25 in total ,,,,,I am only exempt capital gain on the 5 that I lived on and not the rest ...

Ok yes I am going to make some serious money out of this but it still pisses me off that they want capital gain on a property that I lived on for 10 years and paid all of the rates and every other fee associated with property owner ship and I still run my business there  ........The government Grubs are going to get several million out of me in capital gains tax unless I can figure out some way  of getting out of it ........:angry: I rather spend that money on crap than give it to them ... 

I reckon your beancounter is right Raven, just make sure you find some way to maximise the allocation of purchase cost against the 20 acres if you can.  I'm sure when you bought it initially the house was falling down and wasn't worth anything?  And possibly part of your holding costs (rates, land tax, interest etc) can be taken into account if they weren't claimed as deductions.  Always work on the basis that every little bit helps ?

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1 hour ago, Raven said:

As I mentioned above I have a large property that will hopefully be sold in the next 5 years or so ....In regards to it being tax free my accountant tells me that I have to pay capital gains Tax on 20 acres of the 25 in total ,,,,,I am only exempt capital gain on the 5 that I lived on and not the rest ...

Ok yes I am going to make some serious money out of this but it still pisses me off that they want capital gain on a property that I lived on for 10 years and paid all of the rates and every other fee associated with property owner ship and I still run my business there  ........The government Grubs are going to get several million out of me in capital gains tax unless I can figure out some way  of getting out of it ........:angry: I rather spend that money on crap than give it to them ... 

Check for land tax as well on sale. Half heard a conversation on this a few months ago. 

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5 hours ago, Raven said:

As I mentioned above I have a large property that will hopefully be sold in the next 5 years or so ....In regards to it being tax free my accountant tells me that I have to pay capital gains Tax on 20 acres of the 25 in total ,,,,,I am only exempt capital gain on the 5 that I lived on and not the rest ...

Ok yes I am going to make some serious money out of this but it still pisses me off that they want capital gain on a property that I lived on for 10 years and paid all of the rates and every other fee associated with property owner ship and I still run my business there  ........The government Grubs are going to get several million out of me in capital gains tax unless I can figure out some way  of getting out of it ........:angry: I rather spend that money on crap than give it to them ... 

Just spitballing here @Raven ...  Sell it in 5acre lots. Move from 1 to the next and so on maintaining principal place of residence as u go. Might take a bit more time and effort but if you’re talking millions, then the effort might be worth it?? 

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52 minutes ago, flamingporsche said:

Just spitballing here @Raven ...  Sell it in 5acre lots. Move from 1 to the next and so on maintaining principal place of residence as u go. Might take a bit more time and effort but if you’re talking millions, then the effort might be worth it?? 

Now your onto something I could move the house from one block to another every couple years ...............:Chuckle2:

 

Moving_a_big_green_house.jpg

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3 minutes ago, Raven said:

Now your onto something I could move the house from one block to another every couple years ...............:Chuckle2:

 

Moving_a_big_green_house.jpg

Don't discount it...I did exactly that with a house in Brisbane many years ago...sold the land for commercial development and took the house to another nice riverside suburb!  I even got to take the fencing and all the garden plants with me!! (different truck though :-) )

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10 hours ago, TwoHeadsTas said:

My daughter and her partner have just paid $490k for a 2 yo 2 B/R Unit in Essendon, I couldn't imagine having a mortgage of near that size around my neck at the age of 24 (although at that age I was paying 18% interest rate on my mortgage....).  In Launceston that would buy you a very nice house in virtually any suburb...

 $490k would buy you a 3 bed house on 800sqm in my street! 

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7 minutes ago, Harvs11 said:

Tax implications of a commercial property might come into play here?

The House next door to us was a grow house for a while  a few years back, not taking into count the commercial benefits and subsequent jail time/ fines of the grower,I feel that the tax benefits were outweighed by refurbishment costs to the owner.was wondering if meth houses suffered the same fate.

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1 hour ago, StevepGT3 said:

The House next door to us was a grow house for a while  a few years back, not taking into count the commercial benefits and subsequent jail time/ fines of the grower,I feel that the tax benefits were outweighed by refurbishment costs to the owner.was wondering if meth houses suffered the same fate.

Meth houses suffer from residual toxic contamination which renders the house unsafe for occupation.

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12 hours ago, LeeM said:

 Neverrrrrrrrrr!!! Too much motorsport to watch 

Sounds like they have you hooked.

I refuse to pay for something I watched free for years, but it doesn't matter, racing these days has lost something.

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2 hours ago, OZ930 said:

Sounds like they have you hooked.

I refuse to pay for something I watched free for years, but it doesn't matter, racing these days has lost something.

 I've had Fox nearly since it started in Oz mate. We watch loads of doco's and movies too

 Agree about racing, just look at F1! 

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9 minutes ago, LeeM said:

 I've had Fox nearly since it started in Oz mate. We watch loads of doco's and movies too

 Agree about racing, just look at F1! 

We had Austar/Foxtel because we were sick of ads on the commercial stations. We enjoyed the doco's, old movies and some of those other shows, but then ads came in more and more.  So much for sitting and watching something uninterrupted. We were now paying for ads.  So after five or more years of trying to get rid of it, with their ever cheaper and cheaper deals with more access to other categories of shows etc, we finally got rid of them.  We won't be back.

You want a better deal, tell them you want to cancel the contract.  

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3 hours ago, OZ930 said:

We had Austar/Foxtel because we were sick of ads on the commercial stations. We enjoyed the doco's, old movies and some of those other shows, but then ads came in more and more.  So much for sitting and watching something uninterrupted. We were now paying for ads.  So after five or more years of trying to get rid of it, with their ever cheaper and cheaper deals with more access to other categories of shows etc, we finally got rid of them.  We won't be back.

You want a better deal, tell them you want to cancel the contract.  

  Yeah the ads suck on doco channels, and I just counted 9 ads between movies on the comedy channel! I have done the I'm gunna cancel' thing and got $30 a month off, yet am going to hit them again soon. We're home bods as we enjoy being home, and the missus is a movie freak (who picks some really crap movies to watch!) so we won't be getting rid of it. A neccesary evil I spose you could call it.

3 hours ago, firstone said:

Sounds like vodaphone. ?

 Definitley! Been a loyal supporter of them for years too and have just got a new deal which is $30/month cheaper

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2 hours ago, LeeM said:

  Yeah the ads suck on doco channels, and I just counted 9 ads between movies on the comedy channel! I have done the I'm gunna cancel' thing and got $30 a month off, yet am going to hit them again soon. We're home bods as we enjoy being home, and the missus is a movie freak (who picks some really crap movies to watch!) so we won't be getting rid of it. A neccesary evil I spose you could call it.

 Definitley! Been a loyal supporter of them for years too and have just got a new deal which is $30/month cheaper

My Mrs is a movie freak too, so we have Netflix. Free movies, can watch favourite TV shows on demand free and no ads.

So Neighbours is over in 20 minutes instead of 30 and she can watch it on her computer if I am watching something more important. Not that ever is.....right ?

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Yeah another Netflix family here, I think we watch more Netflix than commercial TV. I had never seen any of the Jason Bourne movies until recently binge watching them on Netflix.

My latest series addiction is Designated Survivor with Kiefer Sutherland & Maggie Q.

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