How renovating can impact wealth | Recent questions | Invest smart with BrickX
simplyaskit | October 31, 2018
7 ways in which renovations can impact your wealth and what you can do about it
Thinking about giving your hub a facelift?
Renovations can be super fun to plan.
Then, as you go into the dough of things, sometimes the joy becomes pure and simple pain. PAIN. Dealing with asbestos and tonnes of dust, managing workers and sorting out problems that arise along the way.
But once those are done, you’re in heaven mode. Your dream home has finally come true!
Now, how much has this roller coaster journey cost you?
Sam D from Glenorie NSW asks about a business’s tax losses being transferred
2 years ago we started a new business and spent about $300,000 so far. It’s not working out as well as we hoped and now thinking about closing it down and getting a job – the question we have is about the losses we have in business… can they be offset against the future income when we find employment?
Patrick M from Leonay asks about the best home loan rate
Home Loan $523,000
Rate – 4.17%
My income – 97k plus super
My wife’s income – 102k plus super
Credit card limit $3k
2 kids 9 and 7
No other loans or debts and we have been in the same job for over 3 years
What is the best rate we could get by refinancing?
Tony M from Gymea NSW asks about paying GST when renovating
Hi, we are about to engage a builder for renovations and the quote has come in at $600,000. The builder is buying the materials on our behalf and we assume paying GST on the costs so if we breakdown the quotes should we then be paying further GST based on the builders overall quote?