http://www.crikey.com.au/2009/03/17/beware-buying-off-the-plan/ now with extra source Sat, 11 Feb 2012 20:20:24 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.crikey.com.au/2009/03/17/beware-buying-off-the-plan/#comment-6690 TLK Thu, 01 Jan 1970 10:00:00 +0000 #comment-6690 Who can argue with the wisdom of this advice? Certainly not me- I have an intense aversion to buying off the plan and real estate developers! <br />Adam I may have misread the point in the article about the time value of the tax benefit, and you may already know this, but the tax benefit can be paid to you throughout the year by the ATO. You submit an Income Tax Withholding Tax Variation to the ATO as early as possible in the tax year- its an online form. <br />http://www.ato.gov.au/businesses/content.asp?doc=/Content/6650.htm. <br />This reduces the tax you pay each pay period based on your estimate of your net return from the investment. The downside is you have to be pretty accurate or the ATO might penalise you. <br />But I am no expert- its imperative that you get independent advice from your own accountant before you enter into any investment. Cheers<br /> Who can argue with the wisdom of this advice? Certainly not me- I have an intense aversion to buying off the plan and real estate developers!
Adam I may have misread the point in the article about the time value of the tax benefit, and you may already know this, but the tax benefit can be paid to you throughout the year by the ATO. You submit an Income Tax Withholding Tax Variation to the ATO as early as possible in the tax year- its an online form.
http://www.ato.gov.au/businesses/content.asp?doc=/Content/6650.htm.
This reduces the tax you pay each pay period based on your estimate of your net return from the investment. The downside is you have to be pretty accurate or the ATO might penalise you.
But I am no expert- its imperative that you get independent advice from your own accountant before you enter into any investment. Cheers

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