Vic Wasteland Thread - 15.0

[Down_Shift]

f**k me got this project to do at monash uni, gotta do a 1 hour video induction with interactive questions before I can start work on site :\ no skip button

Pay me and I'll do it, can't guarantee a pass though!

[dezz]

You can claim it as a loss but it doesn't offset your income tax as it's a separate tax to it.

So what happens is, in future if you make a profit (capital gain) on something like property or other shares, the tax you would ordinarily have to pay on that profit can be negated by any losses from previous financial years.

You basically take the loss in the ass until you make a profit and then the loss becomes useful.

Let's say you lose $2k on 88E in one financial year and make 800k on selling your house in another financial year, say 5 years from now, if you kept carrying the loss forward then you won't have to pay capital gains on 2k of your 800k profit.

It's not technically a loss until I sell at a loss though correct?

[Birds]

It's not technically a loss until I sell at a loss though correct?

Correct; once you sell those shares, it becomes a realised loss on paper and can be claimed. If 88E happens to bounce back then you never had a loss; you never had your car blah blah. Same goes with profit...if you never sell them then you never pay capital gains tax on them. Leigh had to pay capital gains tax cause he finally sold his shares to buy a house, after owning them for decades. Handy hint: if you've owned shares for at least 12 months you only pay half the capital gains tax on any profit they've made you. Good reason not to sell if it's a long term investment strategy, which 88E is.

I only sold my 88E shares a couple days ago so I could realise some capital loss, as I'm headed for a tax bill because I sold them a few months ago back when I made a heap on them...then bought back in.

Broker fees are also tax deductible if I recall correctly.

[dezz]

Fair enough... Won't be selling anytime soon as I've lost a decent amount on them anyway, and they've pretty much stabilised now so the loss isn't increasing and shouldn't unless they go bust. Hopefully they find some shit and end up being worth a few bucks each, if that happens I'll make a tidy profit. Might even consider selling if they go up a bit more next week and rebuy if they drop back down to the 3.5c mark to bring my average purchase price down more... It's only a few cents anyway, not like we're talking real money here.

[dezz]

Should be >12 months of holding by then anyway

[Birds]

Fair enough... Won't be selling anytime soon as I've lost a decent amount on them anyway, and they've pretty much stabilised now so the loss isn't increasing and shouldn't unless they go bust. Hopefully they find some shit and end up being worth a few bucks each, if that happens I'll make a tidy profit. Might even consider selling if they go up a bit more next week and rebuy if they drop back down to the 3.5c mark to bring my average purchase price down more... It's only a few cents anyway, not like we're talking real money here.

Plenty to be made off short term trading them with trends, if you can pick the right timing. We've bounced back and forth between 3.5 and 4 cents so many times I could have made a few grand if I had been ballsy and smart enough. I sold at 3.7 two days ago with the intention of buying back in at one of our regular drops to 3.5 or even 3.6. Each .1 cent is $400 for me. Unfortunately the flamin mongrel is now up at 3.9 lol, so I could be waiting a week...but I think it'll happen again as no real news due until August.

The risk is that one day you're sold out of the share and then major good news drops...suddenly to buy back in you only get 2/3 the shares for the same money, or you gotta tip in heaps more money just to get back the shares you had previously. Gambling.

Sometimes being at a loss is a good thing because you've already lost enough that there's no point selling out. It forces you to leave the money in and let the share do its thing. That's what happened to me...first bought at 1.8 cents...shit dropped to .6 cents...couldn't he bothered selling just to get 1/3 my investment back. Forgot about it and 3 months later it peaked at nearly 8 cents. I'll be seeing 88E til the end; rather lose 20k than know I missed out on 400k...I can live with the former.

[dezz]

3 months to make 6 cents... What's the point?

I think I've made it clear I don't pick trends, I set them. Basically as soon as I buy a share it's an immediate downward spiral.

[joeyjoejoejuniorshabadoo]

[HEKT1K]

Ironically that meme is so old, perhaps your dementia caused you to forget about it

[HEKT1K]

Ironically that meme is so old, perhaps your dementia caused you to forget about it

[Leroy Peterson]

Sometimes being at a loss is a good thing

Said no gambler, investor or professional Kino player ever

[joeyjoejoejuniorshabadoo]

Ironically that meme is so old, perhaps your dementia caused you to forget about it

I never said it was a fresh meme

[Birds]

Said no gambler, investor or professional Kino player ever

It's the wins that create addiction

[joeyjoejoejuniorshabadoo]

Said no gambler, investor or professional Kino player ever

u right m9?

Wot do u think negative gearing is m12?

[emts]

Wot do u think negative gearing is m12?

something holding me back from buying property.

[joeyjoejoejuniorshabadoo]

something holding me back from buying property.

Heyohhhhhhhhhhhh

[emts]

meh when you leave an opening like that...someone has to do it.

on the note of not affording houses.

looking at construction loans atm, there seems to be a conflict online on this topic.

During the build do you pay principle and interest or just interest, afte rhte build both agree you pay princ and interest but seems to be disagreement during build period

or does it change on lender?

[joeyjoejoejuniorshabadoo]

meh when you leave an opening like that...someone has to do it.

on the note of not affording houses.

looking at construction loans atm, there seems to be a conflict online on this topic.

During the build do you pay principle and interest or just interest, afte rhte build both agree you pay princ and interest but seems to be disagreement during build period

or does it change on lender?

It changes with lender, product, timeframe, location, cost and purpose.

for resi you would generally have an IOL period with a progressive drawdown schedule. I.e. you only pay interest, and only on the portion of the funding used by each stage of construction. There can be extra costs involved in this however the overall saving is worth it.

for commercial construction it's a whole different ballgame

[emts]

cool, budget just went up a bit more.

nice.

[dezz]

Any of you IT kunce know what this is? It's come up the last two times I've rebooted my laptop.. Just sits there at that screen and I have to turn the power off to reboot it again, then it reboots as normal...