Finance for home and investment property | Latest reviews and guides for home and investment property finance

Questions And Answers On Australian Investment Banks

Posted on June 15, 2011 by Admin

Susan asks…

Australian Tax: i borrowed from a bank to purchase land as an investment on interest only?

A) is the full intrest claimable as a tax deduation?
B) the land has dropped in value (thank you reserve bank) if i sell it at a loss is this claimable.
C) in short its turned into a disaster and im trying to sell, And re coup as much of my hard earn’t money as i can so any other advice would be appreciated
my income is approx 65K @ what rate/ percentage are these claimable if at all?

Admin answers:

Unless the land is earning assessable income, the interest is not deductible. All of those interests can be lumped up as part of the “cost base” of the land though. So when you finally sell the land, the capital profit (loss) is calculated as gross proceeds – less – what you initially paid for the land (and other relevant costs, such as conveyancing) – less – this lumped up interest that you can’t claim.
Unfortunately, as the first answer above outlined, if you end up with a capital loss, this loss cannot be offset against your other income (such as salary, dividend, interest etc). It can only be offset against your capital gain – if you have any. And if you don’t have any – you can just carry this capital loss forever until… Until one day you can offset it against your capital gain.

Kirstie asks…

Are there mortgages available from a UK bank for Australian property?

We have an investment property in Australia that is mortgaged through an Australian bank.

After our move to the UK last year, we would like to have this property mortgaged with a bank in the UK.

Is this possible?

Admin answers:

Yes, it is, i’m a Real Estate Agent in Sydney and a lot of our clients properties are mortgaged through Hong Kong Banks etc… Many through Rabobank and other non bank lenders as well.

Rachel asks…

Australian Banks and credit checks?

I don’t want the bank who holds my home loan to know anything about a credit card I have with another bank. When they do a credit check (I’m hoping to buy an investment property) will it be obvious I’m using the credit card or can I say I didn’t go ahead with it and not get found out I’m lying?

Admin answers:

If you want to see what the bank might see, why don’t you try to get your own credit report? It would be better to know what you actually have in the report, rather than guessing.

I personally will suggest D & B. I can’t remember how much they charge, but it’s not expensive.

Hope the above helps.

Cindy asks…

Investment Banking jobs in Australia for UK graduate?

Hi,

I have been looking at jobs in marketing (specifically Trading) in various investment banks. I live in the UK but really want to start a life in Australia, in addition to the fact that I really am quite sick of London! So I want to do an internship with an IB in Australia.

However, I checked on the site of JPMorgan (Asia Pacific) and it seems that they require that an applicant already have Australian citizenship, and that they would not sponsor a visa to Australia. Is there any particular reason for this?

Australia based Macquarie don’t say anything on their site, and am wondering whether they welcome applicants from other countries and would sponsor their visa?

I would really appreciate any help and experience any one might have.

Admin answers:

Try Morgan Stanley, they have large presence and may be able to sponsor you. Let me know if you want more info.

Nancy asks…

Because the Australian goverment guaranteed bank deposits, how will this affect other investments?

I just had a read of this

http://www.abc.net.au/news/stories/2008/10/23/2399807.htm

Do you think because of this people will put their money in federally guaranteed investments and the other forms of investments will fail?

do you think this will in turn have an affect on property values?

what else may be affected by this new goverment legislation?

Admin answers:

Their currency may become stronger due to a stronger backing. Government spending will go p because of this in times of depression, but being in a deficit isn’t strictly a bad thing.

Government investments have such a low interest rate, and the rates are growing lower by the day in these times. Other forms of investment may actually raise their rates so they look like better deals in comparison to the “safe” government insured investment.

Insuring consumer’s investments would only have a minimal impact on housing, if at all.

In addition, it may be just the push they need to dig out of this depression, as it makes money more “safe” from loss.

Posted in Finance | Tagged Australia, Australian Banks, Australian Tax, Banks, Investment Banking, UK | Leave a comment

Questions And Answers On Australian Business Property

Posted on June 14, 2011 by Admin

Graham asks…

Moving to The Great Ocean rd area?

Hi guys,

I am thinking of moving to somewhere along the Great Ocean rd. It is most likely going to be around the Warrnambool area but could really be anywhere. We need a sea change. The need for jobs isn’t really a high priority because I am a property investor and therefore can do it from anywhere.

What is the area like? is it really ‘country’/full of retired melbourne business people/ is it a bit bogan/ is it trendy etc.

Are there many restaurants and shops? I can live with a trip to melbourne every few weeks to go shopping but I like to go out to cafe’s and restaurants alot. Is this area good for such a lifestyle?

Since we will be moving to a large farm (80-100acres) is the farmland good for horses? does it flood etc.

I basically just want to know what the whole place is like before we visit and determine if it is the place for us to move.

I am quite happy just doting about on my farm from day to day but I am a bit ‘city’ in the way that I like to eat out alot and go shopping. I can live without shopping except for going into melbourne for a weekend every once in a while but I do like the cafe lifestyle. Basically I want a nice relaxed life.

I am an Australian national so there is no Visa type problems with my move.

I really appreciate any help you can give me.

Many thanks.

Admin answers:

See you haven’t had any answers as yet so I googled the great ocean road,an area I loved when I travelled there.Couldn’t find much but I will leave this link to see if you find anything interesting.My favourite place down that way was Port Fairy,a very friendly laid back town.

Http://www.google.com.au/search?hl=en&client=firefox-a&hs=iaE&rls=org.mozilla%3Aen-US%3Aofficial&channel=s&q=Living+along+the+Great+Ocean+Road%2CAustralia&btnG=Search&meta=&aq=f&oq=

Lisa asks…

Moving to the Great Ocean Road area?

Hi guys,

What is the area like? is it really ‘country’/full of retired melbourne business people/ is it a bit bogan/ is it trendy etc.

Are there many restaurants and shops? I can live with a trip to melbourne every few weeks to go shopping but I like to go out to cafe’s and restaurants alot. Is this area good for such a lifestyle?

Since we will be moving to a large farm (80-100acres) is the farmland good for horses? does it flood etc.

I basically just want to know what the whole place is like before we visit and determine if it is the place for us to move.

I am an Australian national so there is no Visa type problems with my move.

I really appreciate any help you can give me.

Many thanks.

Admin answers:

The Warrnambool area would be a good place to settle. The city has everything you need, and plenty of cafes and restaurants; shopping is reasonable with most mid-range stores. The city also has a good beach, sea, marina, park area well away from the shopping centre. The hospital is good and there are plenty of medical specialists.

As for farmland, it’s not possible to say whether it will flood or not, that’s something you will need to investigate with a real estate agent and the property owner.

The area has a mix of people, lots of country and farming folk of course, business people, haven’t noticed a huge number of retired people but their around, ‘bogans’ well you can find them anywhere really. I’m about an hour west of Warrnambool, moved here from the city a year ago and love it.

What you should really do is visit for a week or so to get the feel of the place and see if it’s what suits you. There are plenty of motels or serviced apartments to stay in, and you’d have time to travel along the coast to see if there’s any other town you like.

Don asks…

Australians? Question about your natural heath products?

I know this is sorta the wrong category. But I would like an Aussie’s opinion. I am asking this because I have heard this has already been passed in places like Germany and Australia.

Recently Canada has tried to pass a bill making Canada’s natural herbs & minerals only available by prescription. They are being payed off and pushed by big Pharma and its wrong.

“75% of natural health products will be
unable to obtain license for sale, therefore rendering them illegal
& discontinued”

“WITHOUT a warrant, government inspectors will be able to (all just for growing or having your own herbs, vitamins, or minerals):
- enter your private property
- take your natural products (garlic and blueberries?) and seize your bank account
- levy ‘Draconian’ fines up to 5,000,000 and/or seek 2 years in jail”

Pretty much you need a prescription for Vitamin C, Iron, Potassium, St. Johns Wort etc.

It is greedy and it makes me sick!

If you want to be able to SELL these you must purchase a license, which is costly to small business owners and apparently is hard to get.

So, if you Aussies are living by this law, what do you think? How much do you pay for a bottle of vitamins? Its about 10$ Canadian here for a bottle of iron.

Admin answers:

Australians can buy all of the preparations you’ve named and hundreds of others in health food shops, supermarkets and many other outlets. We have no laws here that restrict the sale of natural preparations to prescriptions through parmacists and the suggestion that we could have inspectors entering properties seizing our home grown garlic and blueberries is completely ludicrous and totally inaccurate. Check your sources – they’re wrong.

Shelley asks…

can you translate these English paragraph to Tagalog abouts demographics???

The UAE population has an unnatural sex distribution consisting of more than twice the number of males than females. The 15-65 age group has a male(s)/female sex ratio of 2.743. UAE’s gender imbalance is the highest among any nation in the world followed by Qatar, Kuwait, Bahrain, Oman, and Saudi Arabia – all of which together comprise the Gulf Cooperation Council (GCC).[4] The GCC states are also what most South and Southeast Asians refer to as the Persian Gulf especially in context of emigration.[5]

UAE has one of the most diverse populations in the Middle East.[6] 19 % of the population is Emirati, and 23 % is other Arabs and Iranians [7]. An estimated 85 percent of the population is comprised of non-citizens, one of the world’s highest percentages of foreign-born in any nation. In addition, since the mid-1980s, people from all across South Asia have settled in the UAE. The high living standards and economic opportunities in the UAE are better than almost anywhere else in the Middle East and South Asia. This makes the nation an attractive destination for Indians, Filipinos, Pakistanis, and Bangladeshis along with a few thousand Sri Lankans. In 2006, there were approximately 2.15 million Indian nationals, Philippines Nationals—OFW, Bangladeshi nationals, and Pakistani nationals in the UAE, making them the largest expatriate community in the oil-rich nation.[8] Persons from over twenty Arab nationalities, including thousands of Palestinians who came as either political refugees or migrant workers, also live in the United Arab Emirates. There is also a sizable number of Emiratis from other Arab League nations who have come before the formation of the Emirates such as Egyptians, Somalis, Sudanese and other Gulf Arab states, who have adopted the native culture and customs. Further, Somali immigration also continued in the 1990s as a result of the Somali civil war.
A woman shopping at Dubai Duty Free
A woman shopping at Dubai Duty Free

There are also residents from other parts of the Middle East, Baluchistan region of Pakistan, Iran and Afghanistan, Africa, Europe, Post-Soviet states, and North America. The UAE has attracted a small number of very affluent expatriates (Americans, British, Canadians, Japanese, Chinese and Australians) from developed countries who are attracted to a very warm climate, scenic views (beaches, golf courses, man-made islands and lucrative housing tracts in Abu Dhabi and Dubai), the nation’s comparably low cost of living (but in 2006, thousands of real estate properties are valued over millions of dollars) and tax-free incentives for their business or residency in the UAE. They make up under 5 percent of the UAE population; mainly English-speaking. Expatriates adhere to the law and customs of the UAE, their adopted country.

The most populated city is Dubai, with approximately 1.6 million people. Other major cities include Abu Dhabi, Al Ain, Sharjah, and Fujairah. About 88% of the population of the United Arab Emirates is urban.[9] The remaining inhabitants live in tiny towns scattered throughout the country or in one of the many desert oilfield camps in the nation.

Admin answers:

This will not work 100%.

Http://www.lingvozone.com/

Good luck!

Rachel asks…

Do you agree Melbourne & Australia is pretty average?

I am 24 years old and have lived in Melbourne Australia all my life.

I have backpacked Europe several months and the USA for several months as well.

Having seen alot of the world, I often wonder why Australians continuously say “This is the best country in the world!” or “Mate, we live in the lucky country eh!” or most often “It’s good to travel overseas but it makes you realise how lucky we are to live here!”

Whilst I think Australia and Melbourne is comfortable to live in, I don’t think it’s necessarily “the best place in the world!” when compared to other countries. Why? See below

a) Australia has only 3 “big” cities – Melbourne, Sydney, Brisbane. Once you’ve seen and explored them several times there is not much else busy going on.

b) Melbourne lacks beaches. The port is dirty. Beaches in places like Cairns and Far North Queensland are shut in Summer because of deadly box jellyfish that move in.

c) Housing is extremely unaffordable. 6.5 time the average household income per year (compared to 3x in the USA). If you want to live “inner city” in Melbourne which is about 20-30 mins away from the city in decent subarbs without hoons, crime and gangs you pay literally millions for a house and hundreds of thousands for units of apartments with no land.

d) Prices – Prices are insanely high and inflation is growing. Also caused by the drought. I mean, $3.50 for a 600ml bottle of coke? that is ridiculous. Any dinner at a restaurant that’s decent costs $25-$50 these days and meat prices have shot up. Also everything imported costs so much more than the US/Europe because of Australia’s tiny population and distance away from the rest of the developed world.

e) Transport – Transport, even in big cities like Melbourne and Sydney is totally sub-par. There is no underground railway, and trains are slow, over-clogged and do not run efficiently. Often to go from East to West by train you have to go North then change trains and come back down. Trams are slow, clogged, inefficient, almost always late and yet the Gov’t continuously promotes them over cars, even to the extent that major roads in the city have lost all but 1 lane, to trams that don’t event run continuously!

f) Tax – Australians are some of the most heavily taxed people in the world. GST (Sales tax) is at 10%, Income Taxes are high, Stamp duty on property is 5%!!!, Capital Gains Tax is high, Luxury Car tax is at 140% of the car’s value!!!, car “registration” is approximately $600 and road toll’s are increasingly common, Superannuation (retirement savings) are taxed at 15%, Businesses are taxed at 30%, Alcohol is taxed at 40% – where the hell does all this tax money go?

g) Proximity – Australia is far away from Europe and the USA. Even Asia. Any time you want to see anything other than the “lucky country” it’s going to cost you about $2,000+ to fly out of here.

h) Crime – Crime is on the rise, largely due to poor immigration choices of unskilled, unintelligent migrants from Africa and the Middle East. The city of Melbourne and Sydney is dangerous at night with all of the gangs around.

Admin answers:

I think a lot of the people that say that haven’t traveled and just base their decision on what they’ve seen on tv. I don’t think that its the best country in the world, but it is up there. Think about it we have: beautiful beaches and coral reefs, rainforest’s and Very exotic animals unique to Australia and big cities. Not many countries have ALL that!

Posted in Finance | Tagged Australia, Europe, Great Ocean, Great Ocean Road, Middle East, UAE | Leave a comment

Questions And Answers On Australian Rental Property

Posted on June 7, 2011 by Admin

http://feedburner.google.com/fb/a/dashboard?id=afcak8mukf5mef6i2l7so28tfg

Mike asks…

Question about my rental property…Please help!?

I am currently renting a unit for $340 per week (Australian Dollars) we have ducted air conditioning, this is one of the reasons we chose this property. Recently the air conditioner stopped working and we organised for the realestate to have it fixed. Over the past 4-5 days there has been a heat wave(38 to 43 degrees celcius) so the unit was not livinable as it was like a suana for about 4 to 5 days, we had to move into my partners parents house. Am I able to get compensated in rent as the house was not livinable?
Thanks

Admin answers:

I don’t think you’d be able to get compensated. The house was able to be lived in. You could’ve got fans to use.

Alana asks…

Do I need to professionally clean a rental property at the end of the lease?

I am an Australian living in Manchester on a working holiday and I am about to come to the end of my lease in a unit. Is it a requirement to get the carpets professionally cleaned? I can’t find anything of the kind stated in the rental agreement?
Thanks for the answers – Greeter7; although I appreciate your willingness to help people – based on your answers to this post and other peoples, your sarcasm is inappropriate; you should take into consideration that other people might not be as smart as you are and not in a position or have the same experience in certain areas. I am sure you do not know everything.

Admin answers:

Your obligation is to leave the premises in the same condition as they were in when you moved in – so the next occupant can enjoy the same standards. Wear and tear is nothing to do with cleanliness.

If the property was pro-cleaned before you moved in, then you need to have it pro-cleaned before you leave – even the best amateur job is not the same as the pros produce (different equipment/chemicals etc). Check with the agency what standard is expected, and if they insist on a professional clean, ask for proof it was pro-cleaned before you moved in.

Paul asks…

Australians (cost of living, property). How the hell do you survive????

I am an Australian citizen but have been living abroad for about 7 years. Recently, we have been considering a move back/ or investing in property back in Aus. Every time I have been back for family visits , I notice that everyday goods and services are very expensive (even compared to Tokyo, where I live). Property prices (buying and rental) seem exorbitant and wages across many industries (skilled, unskilled, professional….) seem RELATIVELY low. There also seems to be an increase in casual employment, less job security. So, how are people doing it? How is the average family/couple/single person surviving? Curious. Thanks.
Oh, I am very careful with money and not one to spend lavishly. Not expensive tastes.
And this is not only in the big cities.

Admin answers:

Don’t come back.!!! Melbourne rental prices are very bad at the moment and johhny’s work choices haven’t helped in the way of wages. Even to buy a house costs the earth here now even if it’s a s**thole. I’m not sure about the rest of aussie though. If things are good there maybe stay for a while longer. Good luck

John asks…

USA Rental Apartments…? What are the payments?

Hey.
Im from Australia and Im planning on Living in the US for about 6 months and am looking at rental properties online. Are the prices usually for Monthly or weekly payments? Because the ones i am looking at just say like $800 and im like woah, that’s a lot weekly so im just wondering if its monthly… Australian places are in weekly that’s why Im so confused!

Admin answers:

Most apartments rent monthly, some will list with security deposit (usually equal to 1 month rent that you get it back when you leave), some will list 1 month Free rent. Only a few would do weekly rental (usually they are higher than the monthly rent). So good luck checking the website of the rental place. Check also if they include Free Heat, Free Garage or any other amenities they provide (Free Gym in the Basement, Pool indoor or outdoor etc.).

Jim asks…

Investment property or superannuation ?

Property or superannuation better?

I’m wondering what the better investment option is. I have 2 choices. I can either buy an investment property and put tenants in it, or put money into superannuation, which I can not touch for 31 years.

I’m wondering what the better long-term option is.

If I buy an investment property I’m looking at about $280,000 (Australian). After tenants rental income, I’ll have to put in about $250 a week of my own money. That’s not including insurances and other costs, so I estimate it go to about $270 a week, roughly.

Would that $250 a week be better off in a superannuation account earning about 8% over the next 30 years taking everything into account, such as rising housing prices ?

I already own a small property with my partner, which we are paying back.

Any ideas, thoughts or suggestions guys??

Thanks.

Admin answers:

If your contributions into the SA fund are tax free and you employer also pays into it, then it is the best choice. Otherwise go for the property.

There is no guarantee the fund will increase by8% annually, while property has proved by far the safest and best investment over the long term, in every country of the world.

Posted in Finance | Tagged Australian Dollars, Free Heat, investment property, Rental Apartments, superannuation, usa | 2 Comments

Questions And Answers On Australian Property Investment

Posted on June 1, 2011 by Admin

Rachel asks…

Australian Housing Market ? 2009 Must have further to fall?

1: International overseas buyers will sell their Australian houses and can not afford to buy till the marker recovers.Because of the market slowdown forced to sell like some Australians.
2:Australian unemployment to rise forcing many to sell. Mortgage stress already hits 800,000 people.
3:When shares start to recover their will be a surge from investment housing to stock market.
4: Australian housing market bubbled higher than anywhere else in the the world making it the worlds most unaffordable.
Do other agree with this? Does this sound right?
I suspect that they could fall by another 10-20%
What are your thoughts?

http://www.superreview.com.au/article/Property-values-to-fall-further/433798.aspx

http://www.dailyreckoning.com.au/australian-housing-market-4/2008/01/21/

Admin answers:

Yes. I think people will be shocked at how much further it will fall. More than another 20%..

Marie asks…

australians investing in the us property market?

hey, the article on today tonight caught my attention about investing in the property market in the us.

i was just wondering if anyone had done this? and what steps do u need to take to protect yourself and your investment? is there a way to find a proffessional to discuss such investments with who will be fully aware of the current and future economic status of america? my friend is the perfect candidate for becoming a property tycoon and i want to give her the link to the today tonight article but i dont want to shove her in the deep end and possibly get her in trouble. i want to give her good advice to consider. im good at researching and iv found some sights that discuss australians investing in the usa but internet articles arnt always the most reliable and i would love to offer her someone she can talk to proffessionally about it if it instersts her.

Admin answers:

Not a good idea, the supply of property in the US is huge. Prices won’t be increasing for some time.

Jane asks…

I am trying to help a chinese friend that has lost money in a property sydndicate?

this is a question for australian readers ,a friend of mine who has bad english has lost money in a failed property syndicate called “brandsmart riverbank syndicate ” situated in parramatta nsw , does any one out there have any info ?? maybe a prospectus ?? it was opened in approx 2004 , it was one of the many financial scams created by so called “professional financial planners ” here in australia , coming from china she thought that we ( the west ) had proper rules and guidelines regarding taking and investing peoples monies ,and yes !! she has spent many hours calling the appropriate authorities/people / agents / all of whom just “fob “her off ,and refuse to give her any details of her investment unfortunately she does not have thousands of dollars to pay a lazy solicitor for nothing , any help would be good .ty

Admin answers:

Try INTERPOL.

Susan asks…

boyfriend on a working visa?

does my boyfriend who is coming over on a working visa to australia have the same rights as an australian de facto? i own an investment property and worried if things dont work out that he may get half my investments after 6 months of living here with me

Admin answers:

Honestly if ur worried about that u should go out with somebody else

Davina asks…

what happens to old apartment blocks when they need to be knocked down?

There are some old apartment blocks near my city. These apartment blocks are probably going to make way for newer developments in the future, but I’m thinking about buying one for investment purposes.

However, what is the procedure for when an apartment block gets knocked. With a house, it’s easy, the owner decides to knock it down and then build a new one on there.

Wtih apartment blocks, there could be hundreds of owners. What is the actual procedure? Is it up to a vote? Do they need to get everyone’s permission? And how do they split the profit? Like does each apartment owner just get a new apartment in new complex?

By the way, I live in Australia so someone with knowledge about Australian property law would be more useful.

Admin answers:

Ownership in an apartment building is by “strata” rules. Each owner has a proportional ownership in the common areas and the overall building proportional to the square feet of their unit. Each owner gets one vote at the general meetings.

To sell out to a developer would require a vote at a special general meeting. It probably requires a “super-majority” of 66% or 75% of owners to vote for the disposal, but I’m not really sure what happens to holdouts in such a situation.

The proceeds would be split according to the ownership percentage of each unit, which usually means according to the square feet of each unit. People in “prime” units like a top floor view suite probably have no special earnings in a case like this.

Posted in Finance | Tagged Australia, Australian Housing Market, china, INTERPOL, usa, Yahoo Answers | 2 Comments

Questions And Answers On Australian Investment Firms

Posted on May 31, 2011 by Admin

Richard asks…

in recommendation # 63 of the Iraq study group report, which calls for the U.S. to?

“assist leaders to reorganize the national oil industry as a commercial enterprise” and to encourage investment in Iraq’s oil sector by the internationl community and by international energy companies.” this recommendation would turn iraq’s oil into a commercial entity that could be privatized by foreign firms. for any degree of privatization to work, Iraq has to ammend it’s constitution and pass a new national oil law. HOW LONG AFTER AMERICAN,BRITISH,AUSTRALIAN OIL COMPANIES HAVE GUARANTEED LEGAL ACCESS TO ALL OF IRAQ’S OIL FIELDS, AND ASSURED THE BEST LEGAL AND FINANCIAL TERMS, WILL THE WAR IN IRAQ END?
iraq would not become a better country they would lose money just like russia did by privatizing with european oil companies. russia is the example for this.

Admin answers:

That is the best question i have ever seen here….my guess is about as long as it takes for the ink to dry on the deeds to the oil

Cindy asks…

Could this possibly be a babysitting scam?

So I posted a ad on Craigslist about me being a babysitter looking to babysitt I have had 8 legit people that I do right now babysit for and then I got this email today and I am wondering about it being legit. It worrys me a little….

Here is the first email I am blocking out names to protect the privacy if they are acctual people.

This is the first email they sent

Hello
I am ******************.i worked with Australian Securities and Investments Commission BusinessCenter (ASIC).i work has not-for-profit agent for the company.Following a new contract deal signed by my company with a firm in your area in Minnesota,I decided to search for a perfect person would be drug free,a caring nanny who would cater for my KIDS welfare,in safe environment while I’m away on servicing works for this firm from i will be arriving on the 21st of Nov and the nanny or sitter will start on the 23rd of Nov , Though 28th Dec,..Hence I’m very interested in leaving my kids *******4 and *****2yrs in your care every morning 9AM till 2PM(before I come pick them up to the hotel where I would be lodging) Mondays through Fridays,a,I lost my wife when give gave birth to *****, I would want to solely secure you for this time frame and would want to know how much it would cost me. I would want all condition conducive for both you and my KIDS while they are in your care.I hereby anticipate your reply indicating your availability throughout these times and the total cost of caring for them.
thanks
************

Then after telling Them my rates because I thought maybe it could be legit they sent me this..

Hi
Am very excited to read from you indicating that you will be available and that my girls will be well taking care off,and that they will be having order kids around them when the are with you, My girls are 4years and 2years old respectively,they are girls that play a lot together and also being use to being in charge of care giver they get use to people very easily, also the girls are free eater and are not allergic to anything.

****** likes watching television and dressing up in pretty clothes,while ***** is good-natured and love playing with cats and dogs .You would be taking care of the KIDS at your place,You are to care of them while I am away Monday Though Friday from the hour of 9a:m till 3p:M, 23rd of Nov , Though 28th Dec,.we will be arriving in your area in Minnesota on the 21st of Dec and meet with you on the 22nd for any kind of interview,

Hence what will be your total some for the time frame since you said your rate is between $2 to 5$ an hour ,well am opt of paying the sum of the $1200.00 for the time frame,is it OK by you,if so i will advice you fill the questionnaire below to facilitate your chance

REQUIRED INFORMATION

Name:——— Address:——— City:——— State:———

Zip code:——– Phone:——– Home and cell:——– Age:——–

Sex:——— Present occupation ———

I would anticipate your response.

Thanks for your anticipated service

***************

Since I figured that this info could not harm much i gave them some not all just my name age and number because I was worried. Checking my email not 5 minutes ago I recived this one

After go through your details i see your day care as best care giver for my girls,so I would want the KIDS and yourself under a very conducive environment while you care for them,hence I am putting in some measures to this effect.Kindly be informed that you would be in receipt of the payment for your services next week .Also,note that I will include in the payment the money for the KID items,Hence,all you need do upon the receipt of the payment is deduct the money accrued to you(i..e payment for your services)and forward the rest to the store agent who would be supplying you with the KIDS materials .I would provide you with the store manager’s details so as to have the money sent for the immediate release of the KIDS items.I hope all is clear as I anticipate the best care ever for my KIDS.i will be dropping the girls in your place every morning ,I will be providing all comfort for you and my kids so as to make them feel at home even while I am away,

Thanks

This worrys and bothers me can any one give me somekind of advice please.
I am 17 years old, and this is not the first of this type I have recived the first one I knew was a scam though. There is another I am not sure of I have done some kind of check on her and she really does live in my city but she wants to run a backround check on me but the thing is she wants me to do it my self and gave me a link to go to. I did not click the link and I did not reply back afterwards. I am unsure if that one was a scam to..

Admin answers:

This is a scam.Similar correspondence can be found here http://www.scamwarners.com/forum/viewforum.php?f=34

The give away hints are the poor english, the use of lower case “i”, the mix of Caps and lowercase through out the email.

Also, please google this sentence “.Also,note that I will include in the payment the money for the KID items,Hence,all you need do upon the receipt of the payment is deduct ”

This is from a scam email nearly 2 years old on ScamRadar.

Do not waste your time replying, delete and ignore any further correspondence

They may continue to pester you, and if they do, block their email address. You may also get emails from Robert Mueller FBI Head at yahoo .com. This is just another variation to get you to accept payments.

It is a scam.

John Delaney

Chris asks…

Economic questions need help! Microeconomics!?

I really need help this week, would be great if anyone could give me some hints,tips or just answer the questions!:P

Q1. TRUE OR FALSE: “The monopolist is the quintessential capitalist: exploiting consumers and employees while always turning a tidy profit.” Explain.

Q2. From your understanding of monopoly, describe the likely effects on a previously monopolistic firm that is broken up (e.g., by anti-trust regulation) into a collection of smaller, competitive firms. What do you think the impact of this will be on: total output; productive efficiency; price; and investments in research and development?

Q4. Qantas and Air New Zealand petitioned the Australian Competition and Consumer Commission (ACCC) to allow them to collude on the trans-Tasman route from Sydney to Auckland. The companies claimed that collusion on this route, which would replace the current oligopolistic structure, would allow them to lower costs and therefore prices. What might the ACCC be worried about? Are the airlines’ claims potentially legitimate?

Admin answers:

Q1, true. The real monopolist without market access from other competitors will produce less, and set higher price. It’s bad for consumers,but nothing can be said about employees. It will collect higher profits, the maximized profit is when MC=MR, but less than price though.
Q2. It was broken by ati-trust regulation so that it was a real monopolist. The effects depend on the number of the firms in the market. If it is oligopolistic structure, it will enhance output, new product invention, investments and research, but price.If it is monopolistic structure, the effects will be the same, but more competiotion and lower price. If it is a perfectly competitive structure, the product will be homogenous, lower price, lower cost and higher efficiency,but less invention, research and investment.
Q4. It will turn to be a real monopolist. The price will be set higher, but lower quality. It’s bad for consumers, investment, research and investment.

Bob asks…

Should I earn a Mechanical or Mining Engineering Degree in the United States or Australia?

Hello internet scholars and trolls alike,

I’m looking for career and University advice from anyone that can give some. I’ll explain my history then tell everyone what I’m trying to do and leave it up to you for advice / instructions / information on the industries and such.

First off, I’m 22 and looking to leave the US, possibly perminently. After starting a pre-architecture program from a very good community college in NJ I hold an Associates Degree in fine arts, and 83 credits that cover the basic courses (ie English, Psych, Bio, Precalc, etc.) I’m currently studying Chem and Calculus on my own, in order to recieve CLEP credit for the classes and limit my time in school, and thus the amount I’ll have to borrow. ALSO I’m fluent in Spanish and Italian and have about $5000 USD saved up in silver and mining stocks and have a full time job working at as a CAD draftsman for a Mechanical Engineering firm. Any Money earned from now through school will be going to either rent, very cheap, or the tuition fund.

Now, due to the current economic and political conditions in the US, and because it is the only country that taxes its own citizens abroad, I’m looking overseas. Australia looks very promising. I know that the Aussies are in high demand of skilled labor and I see their dollar outperforming the US dollar in the future. So my question is should I stay in the states to finish my degree in either Mechanical Engineering or Mining Engineering and take out loans in USD or go to OZ and take out loans in Australian dollars which may end up taking a while to pay off, and still does not guarantee a job in Australia. Now this seems like a no brainer to stay here and borrow in USD then get a job in OZ and pay the loans back in the appreciated AUD, but Im not sure how well a US diploma from South Dakota, University of Maryland, or Colorado carries at an Australian Company where I have no job experience, compared to one from the University of New South Whales or University of West Australia or something. If anyone has any information about the business culture of the country as compared to the US, the visas, the lending practices, the MINING or MECHANICAL ENGINEERING Industries in Australia or anywhere for that matter, quality of education, anything, it would be much appreciated.

Thanks SO much!

P.S. Understand that I’m looking at my education as an investment to get the highest return possible for the principle paid, not as someone that is willing to take on an assload of debt for the joys of being a college grad!
Hey, thanks so much for the response. It sounds like you get these sorts of questions about immigration a lot though, huh? Also, in searching the internet for some answers, prior to asking here, it seemed that Australia was very welcoming to professionals across the board and especially attractive to UK and Irish Citizens, but your response paints something of a different picture. I didn’t know the labor market was so tight. In regards to the financial situation you have to understand that there are kids in the US taking out loans for $200k and getting a degree in sociology – something completely irrelevent in the market place. I’m just highlighting the fact that I’d like to be more practical in my ability to get a job and thus contribute to the overall wellbeing of whichever country instead of putting a huge financial burden on the society without a way to contribute. The lack of easy credit in AUS directly inhibits this, which is very admirable and also the exact reason that the US d

Admin answers:

First of all – there is absolutely no guarentee that you will be eligible for a visa to work in Australia regardless of where you get your degree from. If you do not have the degree now and at least 2 years experience now – the fact that mining engineers are eligible for migration is irrelevant. The professions that are permitted to migrate stay on that list for a very short time – less then the time it takes to see it on the list, qualify and then apply for migration. The Australian migration list is not a guide for students to determine which degree to get to migrate – it is a guide for those people currently experienced in those professions to say “if you want to come to Australia – here we are”.

Now if you wish to come to Australia to do the degree fine – but you will not be eligible to take out any loans in australia and most if not all students loans in the US will not loan for international study. In order to be granted the student visa you must show that you have the cost for the degree (over 20K a year for mining) and living costs (min 15K a year) up front. The “credit” system that you use in the US is not worth anything in Australia – we do not do the basic courses in university (science, english credits etc) they are only from high school. That is why the majority of our Bachelors are only 3 years in length (although engineering is 4 years). So you will not have shortened your length of time here by doing some community college in the US.

Form migration – you need a Bachelors and experience to qualify for a visa (and many 10s thousands of dollars for the fees and then it is advisable to have at least 30K in backup funds). No company will hire an international graduate unless they have substantial experience in the type of mining that is required. There are a large number of out of work miners due to the flood in Qld – so it is understandable that those miners will have priority over immigrants.

If you were finishing off the degree now in UNSW – then you would only qualify (possibly) for a graduate visa that means you would have a short period of time to get a company to sponsor you – again you have to prove that you are worth the extra trouble and are better than all the Australian mining graduates – hard to secure and only a very very small % of the UNSW/UWA mining international grads are able to do this. If you do not secure a mining sponsor you have to leave the country.

Your outlook is financial – and the main difference between the American and Australian mentality is that Americans are interested in Financial benefits – and Australians are interested in overall wellbeing. As such your outlook would not be the type of person the Australian companies (and immigration) would be interested in having on their books. You would not fit in.

Graham asks…

Immigrating with the intent purpose to start a business?

I am an australian, and have a brilliant business plan developed, and have some VC interest. I wish to incorporate a company based around my idea and run business from the US.

However my problem is that the possible visas, E2, E3 and L2 are not suitable. I have almost no money so can not be an investor, and my company is not already established and trading with the US for one year to get an L2.

Is there any way I could get investment capital to apply for an E2 without it looking like employment, or any way that a VC firm would want to give it to me personally, as there is no way to ensure I would just take of with it?

I wish to immigrate and get a visa for the purposes of setting up my business and managing it, there is no visa for this, but I am wondering if some kind of loophole is possible? I wish to be in control of, and derive income from the company, so a partner is not a solution.

Admin answers:

Unlike Canada which has more lenient immigration rules for entrepreneurs and small business owners, US investors visa requires at least $500K if you will start a business in a “targeted employment area”

http://www.uscis.gov/portal/site/uscis/menuitem.5af9bb95919f35e66f614176543f6d1a/?vgnextoid=4ff96138f898d010VgnVCM10000048f3d6a1RCRD

One possible option for you is to have someone start the business in the US — and then petition you for an H1B or EAD Employment Authorization Document (requires Department of Labor approval). The problem though is for a business to request for an H1B foreign employee, that firm must be able to show proof of existence prior, which means it has to have filed an income tax return (for a new business or without an income tax return, chances for approval is very very slim)

Line up possible partners. Contact VCs. And hire an immigration lawyer to help you look for loopholes in the immigration law

Why can’t this business be started in Australia? Maybe start the business there and then transfer it to the US when it has proven viable — and you can show USCIS that you have the minimum investment they require

Posted in Finance | Tagged Australia, AUSTRALIAN, email, Iraq, KIDS, US | Leave a comment

Questions And Answers On Australian Business Property

Posted on May 31, 2011 by Admin

Cindy asks…

How to get my $600 back from this guy Nicholas Dacombe Ebay Seller in Australia?

Hi, I bought a Laptop in jan for $550 on ebay from This guy name Nicholas Dacombe ( NICS998 ) 99% feedback 363 score and paid via Bank deposit. I received it 3 days later but it was not as described. The item is in used condition not new as stated in description.

I contact seller and he said send it back and he will exchange me, so I did and after 2 Weeks I got the replacment but Again, it is even worse condition! What is he tying to do!?

I contact him right away and he said there is nothing wrong with the item he just sent, what a lier my partner even saw the laptop.

I can’t beleive that he is lying to me saying the replacment laptop was in good cond.

So again I paid for express shipping back to him and the next day he said he has receive it and will send me another one when he gets back from overseas in 2 weeks!? WTF what is he trying to do!!

I have his mobile number so I called but he keeps saying I sent it when I get back.

So after 2 weeks I called him again and told him that I want my refund, he said ok then If I want a refund I have to wait till he gets back to work. OMG another freekn excuse!

Ok.. Its now May and he still keeps giving me excuses after excuses so I’m feed up with this.

What should I generally do about this?

I search his name and found him to be involve in a illegal business at the NSW AUSTRALIAN MARITIME TOP LAWYERS and couldn’t belive my eyes!

I’m buying from a ebay power seller that is now not registered and was involve in a scam.

I don’t care I’m going to expose this scammer! here a link to him,his sister and sister best friend (top nsw maritme lawyer ).

http://www.smh.com.au/nsw/nsw-maritime-lawyer-forged-document-for-property-searches-court-told-20100420-sru1.html

Any help would be great!
I’m feed up with his lies! $600 is alot of food for me and my kids.

found this on the internet..

him helping his sister …

http://news.theage.com.au/breaking-news-national/nsw-maritime-lawyer-misused-office-20100419-snxz.html

Admin answers:

Unfortunately as you paid with bank deposit, there is nothing ebay can do for you. Always pay with paypal ALWAYS especially for high priced items. You have zero buyer protection paying with bank deposit.
You can report him to the online police fraud site, its based in qld but they do cover all states. I will try to find the link for you. I know its on ebays community forums somewhere, I will edit my answer when I find it.

Http://www.police.qld.gov.au/programs/crimePrevention/eCrime/internet/report/

It may be a good idea to post your question on the community boards without naming the seller (against ebays board policy) so more experienced members can give you more assistance/advice?

Good luck, $600 bucks is a lot to loose.

Mandy asks…

need help in my economics homework?

I NEED HELp, out of 5o questions, i do not those this question.

Which former Soviet republics experienced the least inflation after adopting a market economy?
A) Latvia, Lithuania, and Estonia
B) Ukraine and Belarus
C) Armenia and Kazakhstan
D) Czech Republic, Poland, and Hungary
2.
Transitioning to a market economy is not always a smooth process. Which of the following was seen in Russia that led to a group of people called oligarchs?
A) President Vladimir Putin interfered with democratic reforms.
B) Perestroika forced many early start-ups into bankruptcy.
C) The demands of organized crime do not let small businesses survive.
D) Politically well-connected people were allowed to buy up public assets.
3.
A program that called for the abrupt change from a command to a market economy is called
A) privatization.
B) shock therapy.
C) perestroika.
D) trade redistribution.
4.
When transitioning to a market economy, transferring state-owned property and businesses to individuals is referred to as
A) shock therapy.
B) privatization.
C) perestroika.
D) specialization.
5.
Which of the following is not an example of effective infrastructure?
A) Phone systems
B) Computer connections
C) Dirt roads
D) Modernized airports

Between which years did the trade deficit with China grow the most?
A) 2000-2001
B) 2001-2002
C) 2003-2004
D) 2004-2005

The foreign exchange market is a
A) market in which different currencies are pegged to the price of gold.
B) network of major banks that link the economies of the world.
C) regulator on foreign exchange that balances imports and exports.
D) currency exchange that sets the price of different nations’ currencies.

The unfavorable U.S. balance of trade is, in part, caused by
A) extensive foreign investment.
B) high petroleum prices.
C) sending jobs overseas.
D) consumer saving.

The trade-weighted value of the dollar
A) makes it expensive for U.S. companies to export goods overseas.
B) sets the exchange rate between United States, Canadian, and Australian dollars.
C) indicates whether the U.S. dollar is strong or weak compared to other currencies.
D) shows the difference between the value of U.S. imports and exports.

Which banks automatically are members of the Federal Reserve?
A) All nationally chartered banks
B) All state-chartered banks
C) All commercial banks
D) All thrift institutions

Admin answers:

Which former Soviet republics experienced the least inflation after adopting a market economy?
A) Latvia, Lithuania, and Estonia

2.
Transitioning to a market economy is not always a smooth process. Which of the following was seen in Russia that led to a group of people called oligarchs?
D) Politically well-connected people were allowed to buy up public assets.

3.
A program that called for the abrupt change from a command to a market economy is called
None of them is really correct – the nearest is privatisation, but your teacher expects:
C) perestroika.

4.
When transitioning to a market economy, transferring state-owned property and businesses to individuals is referred to as
B) privatisation. (often using shock therapy methods)

5.
Which of the following is not an example of effective infrastructure?
C) Dirt roads

Between which years did the trade deficit with China grow the most?
D) 2004-2005

The foreign exchange market is a
D) currency exchange that sets the price of different countries’ currencies.

The unfavourable U.S. Balance of trade is, in part, caused by
B) high petroleum prices.

The trade-weighted value of the dollar
C) indicates whether the U.S. Dollar is strong or weak compared to other currencies.

Which banks automatically are members of the Federal Reserve?
A) All nationally chartered banks

Elizabeth asks…

have aa sccam email from one of your users, can he be?

controlled and how–this is his email:

BANK OF AMERICA (ASIA)LTD.
17/F DEVCON HOUSE
979 KING’S ROAD
HONG KONG.
Dear Friend,
I am Mr Graham R. Baldock. I live in Hong Kong, an Australian by nationality working in the establishment stated above this email. I have an urgent business proposition for you. I got your contact from an email directory. I simply haven’t met with you before,but I will need your assistance and guidelines in making a business investment on landed properties or in any lucrative sphere of business in your country. Owing to the urgency of this transaction, I would appreciate an immediate response from you confirming the receipt of
my email. Upon receipt of your response, I will furnish you with explicit details of the transaction and the urgency at which I need to get the funds transferred out of Hong Kong.
We will elaborate more when I do receive your response.
Awaiting your urgent reply.
Thanks and regards.
Graham Baldock
g baldock777@Yahoo.com.hk

Admin answers:

Its spam mail everyone gets these mark as spam ..they try to bilk you out of your money by asking for bank acct numbers , personal stuff just spam em !!

Helena asks…

Do you regret joining the military?

I’m 21 and currently doing a Business course at TAFE. When completed I’ll be able to attend University. I really hate Business and will probably re enroll in either creative arts (writing) or Political Science once I get into Uni. I don’t like to think of myself as stupid but I really dislike study. I’m thinking of instead joining the ADF (Australian Defense Force) and doing a trade instead. By the time my 6 years is over I’ll be a fully qualifies tradesman and will have enough money to purchase a property out in the bush. It would also be a chance to serve the country I love. Do any of you regret your time in the military and wished you hadn’t joined?

Admin answers:

I wish I would have had better circumstances in life to not join, but no I don’t regret joining. It was alot better than anything else I could be doing. I’ve learned some valuable skills and don’t have to worry about someone firing me because I breathed wrong.

Chris asks…

Upper, Middle or Lower Class?

In economics we have to profile families as middle upper or lower class, I have done most of them however there is one that I am having particular trouble with:

Family of four, husband is a business owner and tax accountant/financial adviser, earns between $90, 000-$120 000 thousand a year. Great 8 (Australian Equivalent to Ivy League) university education, borderline elite private education. Wife works as a receptionist at a large law firm in the city making 46,000 a year, no university education and state high school education.
2 children both have been a private schools all their lives, their high school is border elite.
Live in the eastern suburbs, 4 bedroom, 3 bathroom home on just over a 1/4 of an acre property. House prices in the suburb range from 800, 000 to 5,000,000+,.

I am not sure whether to place them as middle or upper class, what do you think?

Admin answers:

I classify them as being upper middle class. If that category is not acceptable, then middle class it is.

Posted in Finance | Tagged Australia, AUSTRALIAN, contact, email, Federal Reserve, Nicholas Dacombe | 1 Comment

Questions And Answers On Australian Rental Property

Posted on May 31, 2011 by Admin

Chris asks…

Can I claim interest on my rental property loan?

Can I claim interest and bank charges on my rental property loan even if the property is not available for rent? I am an Australian resident for tax purposes.

Admin answers:

In certain circumstances…as long as your intention is to rent it out and you are working towards this end…

Ie. You are building a rental property, you are doing repairs on the rental property or you take the rental property off the market to make improvements

Note: it is only holdings costs (interest, rates etc.) that are deductible during these times

Elizabeth asks…

im looking for a australian website in brisbane for private rental properties?

Admin answers:

This place is pretty good and has a good reputation:- RE/MAX Integrity

PH (07) 3262 2299

Bob asks…

My wife and I expect to purchase a rental property in the Philippines?

My wife and I expect to purchase a rental property in the Philippines. We are both Australian Citizens and are residing in Australia.
Are we required to keep any other records for our overseas investments – outside of those we would normally keep for an investment property here in Australia. Also is it sufficient to notify the tax office of the income from these properties at tax time or do we need to notify them (or any other government department) sooner?
While we were in the Philippines we asked around and there is no tax to pay for investment property, we are going to be purchasing a condo unit, so we only pay for the unit only not the land, you can not own any land in thePhilippines.
I know we have to pay tax here in Aust for any profits earned in the Philippines, but my question is, how much tax do we pay? will it be to the value of the peso or the Aust dollar?
Im not after a business in the Philippines just an investment condo unit that we can stay in when we we travel to the Philippines and while we are not there we could rent it out.
I was told there is no tax to pay in the Philippines but here in Aust we have to pay tax as if it was a condo here in Aust.
I was hoping if any one knew the tax we pay here in Aust is to the Philipinne peso or to the Aust dollar?

Admin answers:

I very highly doubt you would have to worry about paying taxes. First of all .. The Philippines is not going to report your ownership to the Government of Australia. Second of all You will most likely not realize many profits. Unless Tax laws are very different there in Australia you only have to worry about Taxes if you make a profit. As far as tax laws are concerned for Australia you should seek help from a tax professional in your country.

Mandy asks…

Australian Realestate Agents…Property Managers, Do they Know / Care How They Make People Feel??

I am yet to meet one who cares.
I Rent and buy, depending on work.
I am very upset every time I have to deal with one.
Is it a qualification to be to apply?
Do they have to make sure every customer knows that they are below society?
One even treated me like dirt, when I asked for them to manage one of my rental properties.

Real-estate Agents are a dime a dozen, anyone can be one, yet they all display “Qualities that they are above everyone Else”

What’s your excuse?
Finally after years of brainwashing, they are gods gift, earning $150K??
Is that it?
Majority are from broken households, and did not have professional parents. Does the suit, make them feel so much worth, it’s uncontrollable??

Admin answers:

You’re not sounding very happy.

I’m not a real estate agent – here is my guess:-

Some probably didn’t quite treat you well because they themselves were not paid well for managing rental properties. You know, the usual overworked underpaid. There’s only so much a staff member can handle. Nothing much you can do about this.

Some who still treated you bad when you buying – it’s probably because you didn’t buy a million or two million dollar worth of property. I bought a very cheap property in the past. And yes the agent treated me like I was some stinky rubbish…… (not quite sure how to describe it but you know what I mean). Cheap property = low commission. *shrug* what can you do?

I think it’s not limited to Real Estate agents – I think it’s all sales persons to a certain degree. RE agents also not to all RE agents. You serve people who bring you the most money…

Ken asks…

Is Arizona a good place to invest in property?

Hi there and thanks for reading my Q.

Im an Australian living and working in Singapore and trying to make sense of the US property market.

Of all the states Arizona seems to me to be one of the best choices as far as an investment goes.

Does anyone have any advice on investing in Arizona or if not happy to hear your impression of the state and its cities, Phoenix, Tuscan, Scottsdale etc

Can you find someone to manage a rental property for you in the states and how does that work?

Thanks for your answers

Admin answers:

I’ll disclaim that I don’t line anywhere near there so I’m not sure about this state. However this is one of the states that was crushed by the recent housing downturn and therefore has way more housing available than people living there. So lots of houses are vacant, prices have dropped dramatically, lots of places are for rent. However, its not clear when the population will grow enough to soak up all this vacant housing so you may be waiting many years to see any appreciation on your property (and have a real tough time renting it out in the mean time). IE This may be a bad place to invest right now.

So, be very careful with an area like this. Again these are not firsthand conclusions but this is how it seems to be from a distance.

Posted in Finance | Tagged Australia, Australian Realestate Agents, investment property, Philippines, Property Managers, RE | 4 Comments

Questions And Answers On Australian Rental Property

Posted on May 30, 2011 by Admin

Richard asks…

Can I claim interest on my rental property loan?

Can I claim interest and bank charges on my rental property loan even if the property is not available for rent? I am an Australian resident for tax purposes.

Admin answers:

In certain circumstances…as long as your intention is to rent it out and you are working towards this end…

Ie. You are building a rental property, you are doing repairs on the rental property or you take the rental property off the market to make improvements

Note: it is only holdings costs (interest, rates etc.) that are deductible during these times

Graham asks…

im looking for a australian website in brisbane for private rental properties?

Admin answers:

This place is pretty good and has a good reputation:- RE/MAX Integrity

PH (07) 3262 2299

Rachel asks…

My wife and I expect to purchase a rental property in the Philippines?

Admin answers:

Paul asks…

Australian Realestate Agents…Property Managers, Do they Know / Care How They Make People Feel??

Real-estate Agents are a dime a dozen, anyone can be one, yet they all display “Qualities that they are above everyone Else”

Admin answers:

You’re not sounding very happy.

I’m not a real estate agent – here is my guess:-

I think it’s not limited to Real Estate agents – I think it’s all sales persons to a certain degree. RE agents also not to all RE agents. You serve people who bring you the most money…

Susan asks…

Is Arizona a good place to invest in property?

Hi there and thanks for reading my Q.

Im an Australian living and working in Singapore and trying to make sense of the US property market.

Of all the states Arizona seems to me to be one of the best choices as far as an investment goes.

Does anyone have any advice on investing in Arizona or if not happy to hear your impression of the state and its cities, Phoenix, Tuscan, Scottsdale etc

Can you find someone to manage a rental property for you in the states and how does that work?

Thanks for your answers

Admin answers:

So, be very careful with an area like this. Again these are not firsthand conclusions but this is how it seems to be from a distance.

Posted in Finance | 2 Comments

Questions And Answers On Australian Business Property

Posted on May 30, 2011 by Admin

Richard asks…

Is rent tax deductable?

In Australian is the rent on your business property fully tax deductable.

Admin answers:

If you rent say an office where you run your business from then generally it will be fully deductible.

Expenses like this are deductible when they are incurred to produce assessable income.

However, as people’s circumstances vary, you should check with your accountant before making a final decision.

Mike asks…

specific legal measures to protect a businesses product from being copied in Germany/EU?

What are the specific trademarking,patents,intellectual property acts/law that an Australian company can obtain so a EU/German manufacturer cannot legally copy a product line?

Admin answers:

In principle the product line could be covered by each of the three core intellectual property rights categories on different ways:
(1) Copyright.- If the line has important non-functional elements that clearly differentiate it from competitors, these may be covered by Copyright laws in Australia and, through the Berne Convention treaty, these are reciprocally enforceable in Germany and the EU. (No markings are necessary, but registration before the Australian authority is adviseable)
(2) Trademarks.- A registration for the trademark used in Australia would have to be applied for and granted in each country were protection is sought. This is not an easy or cheap process as a law firm is usually necessary.
(3) Patents.- If the product line, or a unique and indispensable manufacturing process for it is covered by a patent in Australia, you had one year from the filing to start a PCT application to get coverage in WTO member countries. No extensions are available for this time period. Again, a patent law firm is really a necessity.

Susan asks…

Is it hard for a Indian to get a Australian tourist visa?

My friend who’s Indian wants to come to Australia for few days on a tourist visa he’s a been to Australia before on a study visa other than that he’s been to Bangkok, Hong Kong, Macau and mauritius and his father covers all his financial expenses but he doesn’t have a job back in India neither has any property in his name but then again he’s been to Australia before and to some other places too without any overstay so the only positive he has is that his family has a big business in India so doesn’t signify that he will return to his country.
Ozmaniac I understand what you’re saying but he just came back from Australia if he wanted to work there or settle there he could have worked something out when he was there so doesn’t all that count for anything and is the decision totally upto the visa officer or there is a rule that if a person doesn’t have any incentive to return to his country then he can’t get an tourist visa
And would it help if he has a Australian bank account
As I said he doesn’t have any job but he does assist his father in his business but then again he doesn’t get any fixed pay for that so what can he do about that

Admin answers:

The fact that he has been in Australia previously on a temporary visa and kept to the conditions of that visa will act in his favour, but as you know, with no job or studies to go back to, it’s quite likely that he will be seen as an overstay risk. The other places he has been to without overstaying are seen as holiday destinations whereas Australia is not only a holiday destination, but is very much seen as an economic one.

He will just have to apply and hope for the best. Regarding the family business: the obvious question that will probably arise in the DIAC processing officer’s mind is ‘if his family has a big business in India, why doesn’t he work in it?’ so I’m not sure how much good that will do. He should submit any evidence he can get his hands on that supports the idea that he is likely to return to India and should also include a letter of invitation from you in which it would be a good idea to set out detailed plans for activities during his stay.

EDIT:
The immigration officer processing the application makes a judgement based on the evidence submitted with the visa application. If the evidence is that the person has no incentive to return to their country, that judgement is quite likely to be to deny it but there’s no way of knowing for sure. It wouldn’t hurt for him to point out what you’ve said i.e. He could have applied for a visa to stay on in Australia but chose not to do so because he prefers to live in India with his wealthy family. An onward air ticket and arrangements for a holiday somewhere else is another possibility that could help.

I imagine that if anything, having an Australian bank account could be seen as an indication that he intends staying.

EDIT #2
The fact that he doesn’t have a job and ‘helps his father’ without any kind of fixed pay can only go against him but the only way he’ll find out for sure is to apply for a visa. Nobody knows the exact processes a DIAC officer goes through when deciding to grant or deny a visa – all we have to go on is anecdotal evidence and reading between the lines on the Application Document Checklist:
http://www.immi.gov.au/visitors/_pdf/676-visa-checklist.pdf Application Document Checklist. See Other documents

Rachel asks…

Airport customs officers searching your laptop computer files?

Is this happening in other countries? Australian airport customs officers can now search your laptop and mobile phones for “pornography”. Incoming Passenger Cards ask people if they are carrying pornography, so if you are carrying legal pornography and don’t answer Yes you are breaking the law – e.g. a Playboy mag or a photo of your girlfriend in the bath.

Considering that most pornography is legal anyway and that illegal pornography is distributed via the internet, what probably cause do airport officials have to search all incoming passengers’ computers and luggage for it?

This has very serious and much broader privacy implications. A discussion about it is being kicked off here:

http://www.roundinspirals.com/viewtopic.php?f=16&t=672&p=4812#p4812

Twig says: “People carry around all kinds of sensitive information on their laptops. For business, intellectual property, bids, submissions, writing. Laptops also contain all manner of data about a persons surfing habits, documents they have compiled, basically any use their PC has been put to is likely to leave some kind of trail…. I would be more concerned with what might be put on my PC than what might be taken off it.”

Admin answers:

I honestly don’t know what to say about this now,but it made laugh so I’m going to think about it for awhile and see if I can find a reason not to.

Regards.

Lynn asks…

Bachelor of arts with these majors????

I want to do a bachelor of arts with bachelor of business however these are the majors:

Majors: Arts: Australian and cultural studies; communication studies; creative writing; environmental and planning studies; historical studies; Indonesian; Italian; Japanese; journalism; politics and international relations; public relations; social and community studies; sociology; and studies in art and design. Business: accounting; financial planning; human resource management; information systems; international business; management; marketing; tourism; and property and asset management.

Is it worth the extra work and time if I dont want a career in anything to do with the arts? It’s only a years more work than business. However is anyone doing the arts degree and find it really hard work? And how do they organise the assessment? Do you have two exams during the same time?

Furthermore out of those majors for the arts which one seems an interesting one to take?
In the business side I know I want to major in accounting and have financial planning as a minor. I also think advertising would be good. However in the arts I’ve always been interested in history and creative writing…. but I know that these subjects are alot of hard work even though these have nothing to do with my career. I was suggested that psychology is a good major with business which is why I’m asking this questions. I want to know other peoples input on what they think… and their experiences. You people may also know if any of the arts degree majors are of useful nature to the business degree which is what I dont know. So I know which direction I want to travel, I just need a little assistance. Plus the expenses of just the business degree is the exact same amount as the business and arts degree; even though it’s longer. So the expenses has nothing to do with my choice. I just want to know about the workload, how they organise the different courses and their exams. Thanks.

Admin answers:

You are starting at the wrong end. Decide what you hope to achieve, then decide which, if any, of these will help you attain that goal. Focus on your question, “Is it worth the extra work and time.” If you do not have a plan to use it, it is worth zero to you. It will cost you a year of your life plus expenses.

If you want to specialize in some particular area of business, this may be of use, but decide that first.

Posted in Finance | Tagged Application Document Checklist, Australia, EDIT, EU, Germany, India | 4 Comments

Questions And Answers On Australian Property Investment

Posted on May 29, 2011 by Admin

Wayne asks…

Tips for buying an investment property?

Hello. I would like to buy an investment property. Either a cheap unit or cheap holiday house. Does anyone have any advice or words of wisdom?
Preferably answers from Australian people due to market knowledge of this area.

Thanks

Admin answers:

Yeah, show up in the swimsuit you have on your icon when you show up to see a For Sale by Owner…then just sweet talk them into selling it to you cheap using your feminine wiles….

Steve asks…

To convert my investment property to principal residence, how long do I need to stay at that address?

Or what other requirements needs to be fulfilled, according to Australian Taxation legislation?

Admin answers:

Not set answer here. Seek accounting advice. You can only have one PPR at one time so if you want to convert you investment property into your PPR any other property you own would then become investment property(s). I suggest you do the following regardless

- get the property you intend to move into valued by a real estate agent (maybe get a couple) and give them the brief that you want a low valuation. This can then be used as the sale value down the track when you are calculating your CGT liability when you sell. If you intend to rent out your current PPR property then get it valued as well but with the brief that you want a high valuation.

Rachel asks…

What tax implications are there buying property in the US?

I’m an Australian residence wanting to buy property in the US for investment purposes. Is it possible? What implications are there when I sell in the future?

Admin answers:

Presumably you know much more about Australian taxes than I do (which is next to nothing).

Of course, you can buy investment property in America. Many foreign nationals do. Depending on tax treaties, you may be subject to tax, but in reality most “rental” properties aren’t, because of depreciation. If it is just land being held, no depreciation.

You will need to pay property tax, with is an annual tax imposed by the state or sometimes also the locality where the property is located. (This allegedly goes to education) Occasionally, there will be some other assessment or something by the locality.

When you sell, if it is rental property, you have to depreciate by the amount you were allowed to depreciate to decrease your cost basis.

You pay income tax on the profit when sold.

Lisa asks…

How will the current financial crisis in the US affect Australia?

I am interested to find out how the problems that the US are facing at the moment will affect the Australian market?. I am currently looking at buying an investment property and I am concerned if I am making the right decision. I have heard different things from different people and I just don’t know what to do.

Admin answers:

Well i heard on the radio this morning that Australia is probably going to go into a Recession for the next 12 to 18 months and i also heard house prices are 30% over valued and they will come down in price, but this is only a prediction, who really knows, if it was me i’d hold off buying an investment property for a little while. This economy in Australia has been going too well for to long, it has to come crashing down soon.

Joseph asks…

Should she become an Australia Citizen or not?

My girlfriend is a permanent resident in Australia and I was suggesting to her to get her Citizenship. She said no and said she had nothing to gain from it even though she wants to live in Australia for the rest of her life. She currently holds Thai Citizenship. She says she doesn’t want to become a Citizen here otherwise she can’t buy an investment property in Thailand.

What does she lose if she becomes an Australian Citizen?

Admin answers:

I think anyone that wants to live here should become a citizen as soon as possible. Later in life it would be so much easier for pensions and priveledges. Wow what a great opportunity for those lucky enough in the world to live here and be part of the Country and vote. Investment property in Thailand is a weak excuse. What’s wrong with an investment property here.

Posted in Finance | Tagged Australia, Australia Citizen, investment property, PPR, Thailand, US | 2 Comments

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