How are your finances?

I don't want to see this thread die so I cleaned it up a little bit.

Here is the NSW land tax website
Land tax - NSW Office of State Revenue

(Note: it's different for every state)

The land tax threshold in NSW kicks in at the threshold of $368k. It's easily possible to have 3 or 4 IPs (say, 2 br flats) before land tax kicks in. And once you're close to the threshold, you can always buy in different states. Now I'm no financial adviser, and I might be wrong, so always do your due diligence with a professional.

Bump...for an interesting thread

....and to highlight by far the best post in the thread...post #51 from The Right Honorable Dave Hyjack.

Top stuff Hasselhoff!!

Hmm yeah interesting, be good to hear from Ceffo and Hulk with there updated stories.

I have a decent amount put away, so I would survive say a year (especially getting rid of my car, also live at home). I've always been good with money, some of my mates probably think I'm pretty cheap though...

Just finished study, but its a crappy time to find a job. Decided to study and do something I would enjoy more after my other job became 'too much'...

Financial goals are to own a house and pay it off relatively quickly..

just an update on myself..

well ive just sold one of my houses which i bought bit over 3 years ago for roughly $75k profit (it was bought at 395k and sold for 500k) minus capital gains etc.. Its ok not the best performing property in my portfolio but eh.. only cost me 5k per year to maintain.

Ill be buying 2 more houses with that money soon 300-350k mark. Don't know where yet but still looking when i have the time (2 jobs and a newborn child will do that to ya) makes it hard to go do inspections in melbourne and brisbane. Why other states? My landtax bill for the 4 properties was over 2k last year since they totaled over 2.1million. So screw you tax man im going to other states to invest get around it with the loophole.

still hoping to retire when im 40 and just run PTC.

Adrian440 said:

I have a decent amount put away, so I would survive say a year (especially getting rid of my car, also live at home). I've always been good with money, some of my mates probably think I'm pretty cheap though...

Click to expand...

They may think your cheap now but if u put that money into buying a cheap unit or house and in 4 years time. You will be laughing as u drive around in a new car going overseas on holidays etc.. The money they spend going out at clubs (100 a night or $400 a month) could net u over 100k net profit.


I ask this to alot of people.. most dont get it..

Spend and waste $4800 a year on drinking/parties OR reap $100k in 4-5 years time by saving $100 a week?
Do u want to become a sheep like the rest of the population when u enter the work force and live by pay packet or put up with something for 4-5 years and then do WHAT u want in life sooner? only 5% of the population of australia invest. The other 95% are making that 5% richer (it sounds cruel) but i know which i would rather be.

Wow big rooster

What relevance does a rooster have in regards to finances Christian?

It better be good.

Maybe he has shares in KFC?

Big roosters are good for business I suppose.

Ah..Hormone enriched KFC chickens LOL

I still wish to hear Christian's explanation though.