MECTILE

Category: Property

  • How a minor is taxed – trust assessment codes

    Here is a quick post on some information on working out the assessment codes, which isn’t as obvious. Work from left to right. Age First Second Trust Assessment Code child prescribed person (102AC) – the person is less than 18 years of age on the last day of the year of income and the person…

  • What is a Strata Owners Incorporation Number?

    I recently came into a situation where I needed to open a bank account for Strata Owners, I managed to open an account with a Big 4 Bank, but then they were asking me for the Incorporation Number of the Body Corporate. On registration of a Strata Titles Scheme, a Body Corporate becomes incorporated, but…

  • Is Principle and Interest (P&I) or Interest Only (IO) better on my investment loan?

    Mortgages and interest rates, they are extremely confusing. Here is a recent problem I had, should I go Principle and Interest (P&I) or  Interest Only (IO) on an investment loan. Initially, these seams an obvious choice, go the IO and deposit the saved principle payments into your owner occupied offset, as you are unable to…

  • How to calculate comparison interest rate in Excel

    Searching for how comparison interest rates are calculated, I found an article on Tomorrow Finance, but unfortunately a lot of the numbers provided no insight into how they were calculated. I hope to break it down further and explain how to calculate comparison interest rates with Excel. The Excel formula can be quite tricky and…

  • Free copy of The Building Code of Australia (BCA)

    What a free copy of the building code of Australia (BCA), the Australian Government has made it public. In order to promote public education and public safety, equal justice for all, a better informed citizenry, the rule of law, world trade and world peace, this legal document is hereby made available on a noncommercial basis,…

  • The benefits of builder brokers

    It is known that mortgage brokers and insurance brokers are useful to get the best possible service at the best possible price. I thought I would share my knowledge of builder brokers, and whether they can benefit those building a home or development.  Note this analysis and opinion is purely based on my knowledge and…

  • AFS Walling Solutions – permanent formwork concrete walls review

    Recently I did some research into the AFS Logic Wall product as an alternative to brick for a development I am working on. AFS is a permanent formwork concrete wall solution, what this means is instead of creating the timber frame on site for the concrete pour, a factory creates a shell which is then…

  • Correspondence with Property Manager LJ Hooker Belmont WA – Tenant leaves

    Having recently received my bond and completed my transactions with LJ Hooker Belmont WA, I thought I would share my last agent property manager facts. On 24th January 2013, my LJ Hooker Belmont WA Property Manger informs me that the tenant “has admitted that he cannot pay the rent”, owes $1850 in unpaid rent and…

  • Calculate last business day in month with Excel

    Here is a quick post to calculate the last business day in a month taking into account holidays. This is useful for with finance calculations and wanting to know a bank’s last banking day in a month. =WORKDAY(EOMONTH(A2,0)+1,-1,holidays!A:A) Where; Cell A2 is the reference month cell Range holidays!A:A is a list of holidays

  • Home loans – Fixed vs. Variable interest rates

    I saw an interesting chart on Canstar which plotted the history of RBA Cash Rate, variable and 3-year fixed interest rates. This data is all available on the Reserve Bank of Australia website, look for A2 and F2 statistics. I thought I would take it a step further and determine from past history if the…