City adopts budget, passes resolution against state tax raid (261) Jun 18, 2009
Friday, June 12, 2009 Edition. Back in the sixties the government came into the schools and brainwashed us with the idea we needed to control the population because it was rising so fast. (Malibu Times, CA)
Urban dev min seeks sops for realty Jun 18, 2009
The ministry sought to raise income tax exemption limit on rental income from houses from 30 percent to 50 percent. It also sought to exempt the procurement of buses meant for urban transport with a seating capacity of 20 and more from state-level value added tax and central excise duty. (India Times)
Rs 3 lakh I-T relief on home loan? Jun 17, 2009
The ministry has also recommended that the income tax exemption limit om rental income be raised to 50% from the existing 30 ... Urban Development Ministry has also recommended that the income tax exemption limit om rental income be raised to 50% from the existing 30. (India Times)
Maguire Properties sells SoCal tower to Emmes Jun 16, 2009
Maguire, which has a 20 percent stake in the joint venture that owns the office complex, said rental income from the property plunged after the Federal Deposit Insurance Corporation, operating as receiver for the failed Washington Mutual, relinquished the majority of its lease. Maguire said it has begun negotiations with a special servicer in hopes of reworking the loan, which matures December 2011. (OregonLive, OR -- Business)
Lies, damned lies and government propaganda the withdrawal of equitable liability by Keith Gordon Jun 16, 2009
The client's income is wholly derived from rental income, and her tax liability has consistently been around the 5,000 mark in recent years - so how has the Inspector arrived at 60,000 as a reasonable estimate of the tax due, as required by Section 28C TMA 1970. Whilst I would hope that my client will recover, or some sort of Power of Attorney can be set up for her so that the Return can be submitted some time soon, if the Return is not submitted this liability would stand as payable, even... (Accounting Web, UK)
Council rent 'can fund new homes' Jun 16, 2009
Councils in England could build 90,000 extra affordable homes in the next five years if they were able to keep all the rental income from their housing stock ... But rental income from tenants and proceeds from right-to-buy sales could help meet some of the demand, it says. (BBC News -- UK)
Vacation Rentals are Helping Second Homeowners Out of the Housing Market's Foreclosure Crisis Jun 1, 2009
Changing the name from "second home" to "vacation rental" is helping owners make ends meet using rental income while also providing opportunist travelers some fantastic accommodations, great deals and plenty of space to bring the entire family. ReserveMyHome. (PR Newswire)
Survive those taxing times Jun 1, 2009
A further $9 million was clawed back after 7000 reviews and audits of tax returns involving rental income and expenses, while a similar number of taxpayers found their capital gains tax liabilities under the spotlight to the tune of $50 million. So what should you do to avoid a partial review of elements of your tax return or a full audit of your tax affairs. (Sydney Morning Herald -- Business)
Buying abroad May 31, 2009
It is therefore worthwhile doing this type of investment through an overseas property management company, as they focus on property in a managed environment and can often guarantee a rental income. If you go it alone it would be wise to consider the following points before buying to let. (iAfrica.com)
Some home loan issues May 31, 2009
Bank statements, other savings, salary slips and any other source of income like rental income are taken into account by the lender when estimating the applicant's net disposable income. Some lenders apply a 40-45 percent limit as a thumb rule. (India Times)
Warrant offers 25 articles for Monday's Town Meeting May 30, 2009
Other articles ask the town to consider authorization of a number of revolving funds, including those for fire alarm, ambulance, advanced life support, community gardens and rental income, which must be re-voted each year. All of those, except for Article 9, will go into the consent calendar, and be voted on as one. (Medfield Press, MA)
Developer Mrazek in foreclosure on 7 area developments (17) May 30, 2009
He cited reduced occupancy rates and unit prices in the building, and in turn reduced rental income. Unfortunately, it s brought everything from the national scene very local, he said. (Racine Journal Times, WI)
* FEATURE : Mixed views on opening of real estate to China May 29, 2009
Rental income still gives me a 3 percent return [on my property investments], higher than interest earnings from time deposits if I were to put the money in the bank, he said. His next goal is to look for a bargain property in Taipei City, hoping to reap the benefits when the market rebounds given the governments plan to open the sector to Chinese investment. (Taipei Times, Taiwan -- Business)
• Lincoln Co. turns to Jaquet for memorial aid May 29, 2009
Falen said she has a monthly income figure of 625 based on an average derived from 1,250 in rental income earned during April and May. The community center is likely to be a separate line item in the budget for the next fiscal year. (Burley South Idaho Press, ID)
Props defeat might mean $700K less for city coffers May 28, 2009
Wednesday, May 27, 2009 Edition. "Judy Mitchell, Rolling Hills Estates mayor and president of League of California Cities, a nonprofit association that advocates on behalf of cities regarding state and federal government issues, in a press release called the proposed plan "irresponsible" and said it would have "disastrous, long-lasting impacts. (Malibu Times, CA)
N.J. firm tapped for Franklin public housing work May 28, 2009
The FHA serves nearly 700 residents and operates on funds from rental income and the Department of Housing and Urban Development. Reader Comments. (Nashville Business Journal, TN)
Managers face new challenges as Hawaii vacancies increase May 27, 2009
Vacancies cost building owners money, not only because of the drop in rental income, but because landlords usually cover the operating expenses for vacant units. We would try to avoid the vacancy to begin with through workouts with tenants, see how we could increase traffic or sales, said Bobbie Lau, senior vice president of property management at Colliers Monroe Friedlander. (Pacific Business News, HI)
Earnings in brief May 22, 2009
The key contributing factor in the increase in revenue was the additional rental income of RM2. 9mil contributed by the Bebar and Malakoff estates. (The Star Online, Malaysia -- Business)
U.K. Rents for Commercial Buildings to Keep Falling Until 2012, RREEF Says May 17, 2009
The drop in rental income, combined with stricter loan terms, has made commercial real estate less attractive and caused values to plummet 41 percent since June 2007 ... Investment returns, which combine rental income and changes in a propertys value, will be marginally negative in 2010 after a 20 percent drop this year, he said. (Bloomberg -- UK)
A train wreck for Public Storage May 16, 2009
Rental income in the first quarter fell 12 percent to $371 million, down from $424 million during the same period last year. For most self-storage businesses, the markets hit hardest by job loss, including those in Michigan, have been challenging, according to the. (Atlanta Business Chronicle, GA)
Possible BYU-I policy spooks Realtors May 16, 2009
Bowen said that for many single-student housing owners their property is not just a piece of real estate -- it's a business because of the added value of the rental income. "Owners are not going to be able to get out what they put into it," said Brown. (Rexburg Standard Journal, ID)
Trusts' debt mountains worry lenders May 16, 2009
"Moreover, despite the operational resilience demonstrated by most [trusts] in the recent reporting season, recessionary conditions in Australia will likely slow rental income, and falling asset valuations will also accentuate gearing levels.". These factors, coupled with the lack of available options to reduce debt, would constrain the sector's financial flexibility and would put further pressure on ratings. (Sydney Morning Herald -- Business)
Federal stimulus money saves Braintree reading teachers May 14, 2009
The project is being paid from rental income and capital improvement funds. Loading commenting interface. (Braintree Forum, MA)
DLF looking to raise Rs 10,000 cr via asset sale May 14, 2009
Besides, DAL is expecting to raise Rs 2,000 crore in debt through securitising its rental income this year. Together, these fund raising initiatives at DAL will bring down DLFs receivables from DAL to around Rs 1,300 crore from Rs 4,900 crore. (India Times)
City considers vacation home tax May 14, 2009
Wednesday, May 13, 2009 Edition. We'll work through real estate companies who handle it and there are also quite a few Internet sites where people list their homes. (Malibu Times, CA)
AmFIRST's net income higher May 9, 2009
Gross rental income surged 63% to RM24. 2mil during the quarter from RM14. (The Star Online, Malaysia -- Business)
OBAMA'S TAX DODGERS . . . May 6, 2009
The congressman had to fork over nearly 11,000 in back taxes last year after The Post reported that he failed to disclose more than 75,000 in rental income on his Dominican Republic villa. Plus, he's under investigation by a House committee for allegedly helping a company preserve its offshore tax loophole -- in exchange for a million-dollar gift to a school named in his honor. (New York Post -- Opinions)
Brookfield Asset profit slumps May 6, 2009
The high quality of our office property portfolio, which is 96 per cent occupied, allows us to generate stable long-duration contracted rental income streams. In addition, we have contracted more than 75 per cent of our expected renewable generation for the balance of 2009 and 2010. (Globe and Mail -- Business)
Upmarket pop-up shops give sagging consumer culture a lift May 5, 2009
The rental income is negligible. It's more about the publicity and vibrancy that it generates for a particular area or street. (Business Report, South Africa)
Cosway to buy into Golden Works May 5, 2009
Rental income earned by Golden Works is about RM1. 7mil per annum. (The Star Online, Malaysia -- Business)
Fountainhead lifts interim distributions by 9% despite economic slump May 4, 2009
Online Edition Powered By IOL. DisplayAds('SkyLEFT',17,). (Business Report, South Africa)
Rate cut: NRIs invest more in residential projects May 4, 2009
Moreover, GOI is allowing 100% repatriation, so NRIs can now also take out the rental income and capital investment in the property outside India, subject to the foreign exchange regulations. . (India Times)
Mike Butler's Rental Income Exceeds One Million Dollars Annually Learn His Secrets May 3, 2009
Mike Butler's Rental Income Exceeds One Million Dollars Annually Learn His Secrets ... Mike Butler's Rental Income Exceeds One Million Dollars Annually Learn His Secrets ... Incredibly he started with less than a thousand dollars and now collects a rental income that exceeds 1 million dollars annually. (Yahoo News -- Press Releases)
Gearing for a housing deficit May 2, 2009
Interest rates have now fallen to such low levels that, for the first time in years, astute buyers are able to find a selection of "positively geared" (or "positive cash flow") investment properties: that is, dwellings where the rental income is greater than the mortgage repayments and other costs associated with owning the property. This is in sharp contrast to the housing boom of recent times, when investors were willing to buy a property with rental income that was not sufficient to cover all... (Sydney Morning Herald -- Business)
Association of the Blind plant working flat-out May 2, 2009
6 million from manufacturing $1 million from rehabilitation services and other state contracts $287,000 in bequests $213,000 in grants and donations $100,000 in rental income. Reader Comments. (Albany Business Review, NY)
Is this the right time to buy global property? May 1, 2009
For investment properties, locations offering the prospect of steady rental income from tourists are less risky than those relying on local tenants. 1. (India Times)
First Industrial Realty Trust Reports First Quarter 2009 Results May 1, 2009
FAD is defined as EBITDA, minus GAAP interest expense, minus restructuring costs, minus preferred stock dividends, minus straight-line rental income, minus provision for income taxes or plus benefit for income taxes, plus restricted stock amortization, minus non-incremental capital expenditures. Non-incremental capital expenditures are building improvements and leasing costs required to maintain current revenues. (PR Newswire)
Expo hall is facing foreclosure May 1, 2009
The Bayside center is the latest commercial property in Massachusetts to face foreclosure as property owners struggle to pay off debt as rental income from office and retail tenants declines during the economic downturn. The problem is coming to a head because many of those owners are also unable to refinance loans during the continued freeze on credit. (Boston Globe)
ProLogis Reports First Quarter 2009 Results Apr 30, 2009
01 par value per share 2,678 2,670 Additional paid-in capital (1) 7,076,296 7,070,108 Accumulated other comprehensive loss (5) (363,531) (29,374) Distributions in excess of net earnings (1) (543,681) (655,513) -------- -------- Total ProLogis shareholders' equity 6,521,762 6,737,891 Noncontrolling interests (6) 19,718 19,878 ------ ------ Total equity 6,541,480 6,757,769 --------- --------- Total liabilities and equity $17,336,859 $19,269,127 =========== =========== Footnotes follow Financial... (PR Newswire)
Taxing two properties Apr 30, 2009
income tax on rental income ... Considering there is no rental income being earned on the property, lets focus our attention on capital gains tax and estate duty. (iAfrica.com)
No spring surge for Oregon workers Apr 28, 2009
State economists say retirees aren't staying retired, people who were previously living on investment and rental income can't get by anymore, and two-adult households that previously survived on a single income are now looking for a second to tide them over. The growth in the labor force translates to a higher unemployment rate. (OregonLive, OR -- Business)
Commercial break Apr 28, 2009
Losses on commercial property tend to lag behind rises in the unemployment rate by a year or so, largely because lease terms protect landlords from immediate falls in rental income. (An exception is the hotel industry, where leases are, in effect, renewed daily). (The Economist)
Accurate appraisals get tricky Apr 28, 2009
Nolan added, however, that appraisal districts rely on other factors such as the amount of rental income that commercial properties produce and the cost of construction or improvements. Property tax assessments will be mailed May 1; the deadline to file protests is May 31. (Dallas Business Journal, TX)
SunCity keen to export project expertise Apr 28, 2009
We are not in a hurry to list the REIT as we can still depend on our strong rental income to ride out the financial crisis, he added ... For the current calendar year, SunCity can look forward to total rental income of RM285mil, of which 70% will be from Sunway Pyramid Shopping Mall. (The Star Online, Malaysia)
Newth Talks Tax: Rent a room girlfriend Apr 20, 2009
EL observed that where people who live together as a family unit, such as parents, children and couples, contributions to the household running costs were not rental income at all ... Even in the current case, if the client had a formal agreement with his girlfriend to the effect that she paid rent or a proportion of flat costs, then the income would have tax implications, either as rental income less expenses or within the rent a room exemption ... The taxpayer must decide whether to claim... (Accounting Web, UK)
State should let the counties keep their TAT revenues Apr 20, 2009
The transient accommodations tax is imposed only on gross rental income derived from the renting of transient accommodations in Hawai i, such as hotel rooms, apartments, condos or beach houses. Kaua i receives 14. (Lihue Garden Island, HA)
Commercial real estate market softens Apr 17, 2009
The flurry of activity propelled sales prices to record highs and drove the ratio of rental income to cost to all-time lows. That might have been acceptable when rents were climbing. (San Francisco Chronicle)
Residents rage over Trancas Park project Apr 16, 2009
Wednesday, April 15, 2009 Edition. Anyone could walk out to edge [of a park] and look into people's yards. (Malibu Times, CA)
Mercantile Bank Corporation Reports First Quarter 2009 Results Apr 15, 2009
9 million generated in the first quarter of 2008, primarily from increased mortgage banking activities and rental income from foreclosed properties, which more than offset lower bank owned life insurance income. The provision for loan and lease losses was $10. (Primezone Releases)
Property assets to sustain SunCity Apr 15, 2009
Sunway Pyramid to contribute bulk of rental income ... SunCity can look forward to total rental income of RM285mil this calendar year, of which 70% will be from Sunway Pyramid Shopping Mall ... 5 million sq ft, are fully tenanted and we are thankful the stable rental income has contributed to the resilience of SunCity during the current difficult times, SunCity chief financial officer Tan Poh Chan told StarBiz yesterday. (The Star Online, Malaysia -- Business)
Hawaii retail vacancy still low Apr 15, 2009
That will lead to a further erosion of rental income and this will have a negative effect on property owners and in turn their lenders. The retail market saw 62,324 square feet of negative absorption for the quarter, the bulk of that on Oahu, followed by the Big Island. (Pacific Business News, HI)
Organizations step up to save Fort Pitt Museum Apr 13, 2009
More paid admissions and new rental income would slash the need for state funding. "The museum would be a grand place for weddings and for corporate functions," he said. (Pittsburgh Post-Gazette, PA)
The Taxman Cometh Apr 12, 2009
Then invoke THE REPROBATE RANGLE RULE. Like TAX CHEAT charlie rangle, who is kept as Chairman of the House Ways and Means Tax Panel by botox pelosi, "forget" about paying taxes on foreign rental income of $10,000 AND receive special, sweetheart IRS treatment that includes NO PENALTY for failing to pay taxes. Remember, only Republicans and other honest Americans pay taxes, not the loony-left liberal d-crats (because they're in charge). (CBS News)
- IID director: Stake in suit outcome? 0 Apr 12, 2009
But according to Mike Abatti s statement of economic interest from 2008, Mike Abatti receives rental income of 10,000 or more from Madjac. Mike Abatti also receives rental income of 10,000 or more from Doug Westmoreland, another plaintiff in the suit, and more than 10,000 in investments, income and assets from Ametza LLC, which is owned by plaintiff Felipe Irigoyen. (El Centro Imperial Valley Press, CA)
Firm moves to keep state agencies in S. Station Apr 11, 2009
Equity Office, which splits rental income from South Station tenants with the MBTA, and also stands to lose millions from the move, argued the savings cited by the government are "illusory" and will not accrue to taxpayers. The agencies are funded by fees they charge the companies they regulate, so any savings would go to those companies, not taxpayers. (Boston Globe)
Secondary property market resilient Apr 11, 2009
Hodgson cites the example of a walk-in visitor from the Emirates, who, with a budget of RM15mil, bought 12 apartments in the KLCC area to provide his family with a local base as well as future capital growth and rental income. He attributes several factors for this renewed interest the country being recognised as an undervalued market in the region, the abolition of real property gains tax, non restrictive landed property ownership by foreign nationals, the stimulus package, Malaysia My Second... (The Star Online, Malaysia)
Charleston council allowing first Lake Island lease to expire Apr 9, 2009
This has been sort of a tale of woe for a number of years that we do not own the land, Swartzbaugh said, adding he is not sure they made much rental income off of the lease. Regarding the clinic, the council heard a presentation from representatives of the Coles County Community Health Program. (Mattoon Journal-Gazette, IL)
Ready to retire Apr 8, 2009
The rental income you are currently receiving is taxable in your own hands ... Although R800000 is little enough to allow you not to pay any tax, this will become a problem if you are earning any other forms of income (annuity incomes, rental income, etc ... If your R7500 rental income escalates in line with inflation, your total income will come to about R11500 before tax. (iAfrica.com)
Bondi blast tenants 'left high and dry' Apr 8, 2009
Only owner-occupiers would be reimbursed for "reasonable expenses", while landlords would be covered for their lost rental income, a statement from Dynamic Property Services said. One tenant, who plans to fight against the decision, said renters were being left "high and dry" by the building's insurer and managers. (Sydney Morning Herald -- Australia)
State agencies leaving lease with MBTA at South Station Apr 7, 2009
The T co-manages South Station with a private company, Equity Office Properties, which equally shares rental income with the authority and also stands to lose up to $6. 2 million over the next two and a half years. (Boston Globe)
* Antai Life submits winning bid for A11 store building Apr 4, 2009
The gain did not include rental income over the years, he said by telephone. The company sold the property to strengthen its capital structure and adjust its real estate portfolio. (Taipei Times, Taiwan)
Forensic firms forming critical mass Apr 3, 2009
Pearson expects to move his 12-employee company, currently in Oldsmar, into the extra space in NFSTC s warehouse by the summer, providing rental income to NFSTC and jumpstarting a center of excellence for forensic firms. When you get everyone together, new ideas come out, Pearson said. (Tampa Bay Business Journal, FL)
Payroll stimulus could cause tax trouble Apr 3, 2009
By Neil Stilwell News-Review Wire Editor Thursday, April 2, 2009 8:57 AM EDT The 400 to 800 federal government Making Work Pay" tax credit stimulus which began showing up a few dollars at a time in paychecks recently may require some extra work on the part of taxpayers and tax preparers.Depending on your working and filing status, the credit could trip you up come tax filing time next year unless adjustments are made now in Form W-4, the IRS document which tells your boss how much money to take... (Gaylord Herald Times, MI)
British Land Sells Santander's Abbey London Headquarters for $169 Million Apr 3, 2009
The sale price represented a yield, or rental income as a proportion of the propertys value, of 7. 2 percent, the London-based company said. (Bloomberg -- UK)
Second-home sales plunge 22% Apr 1, 2009
"It was a pretty safe investment," said Falgoust, a management consultant in Willow Grove, N.J. "The rental income is helping me be able to afford it.". Overall, second-home sales dropped from about 2. (Boston Globe)
