PropertyInvesting.com | amsaini15 | Activity https://www.propertyinvesting.com/members/amsaini15/activity/ Activity feed for amsaini15. Mon, 13 Apr 2026 18:15:05 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 0c2b1c71949fd8279c3d7e499139cc76 amsaini15 replied to the topic Borrowing to invest in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4407295-borrowing-to-invest/#post-4674952 Fri, 10 Aug 2012 01:37:22 +0000 Apologises for hijacking this thread :) My Ques is similar to the one posted by stu82. I have a line of credit on my IP which is under joint name. My and wife's share in the IP is 99/1%. If I borrow from LOC to invest in Shares under her name, Will the interest on the loc be claimed in the same percentage (99/1) or My wife can claim fully as Shares…[Read more]

]]> c4e60a6711adf26a656b99f370040343 amsaini15 replied to the topic Borrow from LOC for IP repairs and other costs? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4406617-borrow-from-loc-for-ip-repairs-and-other-costs/page/2/#post-4670013 Thu, 07 Jun 2012 11:16:41 +0000 Rob G. wrote:
I didn't say anything about capitalising interest. The senior courts are quite happy with this concept based on the facts of numerous cases. Its up to you and your competent adviser to decide on your facts.I was referring to borrowing from your LOC to pay an expense for which you will receive an amount back later. Whether by…[Read more]

]]> 328d316eaf81848eb17dc544fa777104 amsaini15 replied to the topic Borrow from LOC for IP repairs and other costs? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4406617-borrow-from-loc-for-ip-repairs-and-other-costs/page/2/#post-4670012 Thu, 07 Jun 2012 02:09:54 +0000 Terryw wrote:
With water you are borrowing to pay something that you will be reimbursed for. This is different to rental income.

Terry, by water expenses I mean to say service and sewerage charges which has to be beared by Owners.(Tenants pay usage charges only)

]]> 66c97b7f42e850be772eb672b98b3e1c amsaini15 replied to the topic Borrow from LOC for IP repairs and other costs? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4406617-borrow-from-loc-for-ip-repairs-and-other-costs/#post-4670009 Thu, 07 Jun 2012 00:25:53 +0000 Rob G. wrote:
Provided the recoupments from the tenants go directly into the LOC, otherwise you contaminate the loan.Cheers,Rob

Rob G, you mean to say if rent from tenants is going in the LOC, we can continue to pay rental exoenses like council, water, insurance,etc and interest payment of the loan from LOC. ATO does not see this as a…[Read more]

]]> 2620f54c0fba2971362142c536e9fff6 amsaini15 replied to the topic Borrow from LOC for IP repairs and other costs? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4406617-borrow-from-loc-for-ip-repairs-and-other-costs/#post-4670006 Thu, 24 May 2012 04:22:32 +0000 Thanks Terry.     Just one last quick Question. Tenants pay the Water Usage charges of the Water Bill. If I am paying full Water Bill from LOC but getting Usage charges paid back by Tenants later, will that be still fine with ATO?

]]> c8b2fcc5bcb604fc0fb590a8ed200cff amsaini15 replied to the topic Borrow from LOC for IP repairs and other costs? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4406617-borrow-from-loc-for-ip-repairs-and-other-costs/#post-4670004 Thu, 24 May 2012 03:51:14 +0000 Dan42 wrote:
Th ATO are cracking down on this. If the rent from your IP is going to pay other non-deductible debt, then you may have an issue. The ATO would argue that you it's not a a cashflow issue, it's a tax avoidance issue, similar to Hart's case. The question you would need to answer, is why, if you have a cashflow issue,. is the income…[Read more]

]]> 4c01660c122ffb6ea982ac35cc4b6122 amsaini15 replied to the topic Borrow from LOC for IP repairs and other costs? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4406617-borrow-from-loc-for-ip-repairs-and-other-costs/#post-4670002 Tue, 22 May 2012 23:33:31 +0000 Terry         Initially I wanted to clarify if eligible for tax deduction when borrowing for general expenses, shares and mortgage. The first two have been confirmed all ok. Thanks to you as well. But now question is with borrowing to pay for interest? What are the acceptable reasons for ATO to believe that it is not a scheme but a genuine mana…[Read more]

]]> bf5679dc37c64e72be9f266dc9a0f6cd amsaini15 replied to the topic Borrow from LOC for IP repairs and other costs? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4406617-borrow-from-loc-for-ip-repairs-and-other-costs/#post-4670000 Tue, 22 May 2012 13:37:01 +0000 Hi All   I send a general email to ATO as well. Please see the reply I got. Reading from text in red, it seems it is safe to say that interest on loan taken to pay for expenses incurred to maintain property are tax deductible. It does not seems ATO has any problem if the rent is going into PPOR offset instead of LOC.It will be interesting to see i…[Read more]

]]> 740fd678ac703198a5c36ca2b285e71a amsaini15 replied to the topic Borrow from LOC for IP repairs and other costs? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4406617-borrow-from-loc-for-ip-repairs-and-other-costs/#post-4669996 Sun, 20 May 2012 23:34:10 +0000 I just spoke to ATO and they advised you cannot claim tax deduction for council,water and other expenses related to investment property and at the same time claim tax deduction on interest on LOC used to borrow for paying these expenses.Has anybody got more information on this? If you can choose one of them only, I would imagine claiming expenses…[Read more]

]]> 9eb81094e1753362942e05c04e8ea15c amsaini15 replied to the topic Borrow from LOC for IP repairs and other costs? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4406617-borrow-from-loc-for-ip-repairs-and-other-costs/#post-4669995 Fri, 18 May 2012 11:08:09 +0000 Thanks Terry. I will also look into Private Ruling to pay mortgage from the LOC.

]]> 688bd00e6a5e3440de62452e77ca150d amsaini15 replied to the topic Borrow from LOC for IP repairs and other costs? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4406617-borrow-from-loc-for-ip-repairs-and-other-costs/#post-4669993 Fri, 18 May 2012 10:08:53 +0000 Terry, Do you mean to say the $50K LOC I have setted up along with my IP loan Can be used to pay for investment expenses? Can I keep borrowing from LOC or is there a limit? So all interest charged on LOC is Tax deductible as long as I am not borrowing for private use?So far my RE has been paying off council and water charges of the rent I am…[Read more]

]]> bdc0bdeb9962eedb6058e40df59b387c amsaini15 replied to the topic 6.58% from Loans.com.au. Is it good for Investors? in the forum Finance https://www.propertyinvesting.com/topic/4403852-6-58-from-loans-com-au-is-it-good-for-investors/#post-4649295 Fri, 14 Oct 2011 06:26:47 +0000 Guys, Apologies for the delay in updating you how I went with the process of change in lender and my 1st impression with the offering from loans.com.au.- My loan settled in Aug and the whole process was very smooth.-I can confirm that offset account is a separate offset account and causes no change in the loan account when funds are added/removed…[Read more]

]]> 4095229e938f391d67d722e563f531e1 amsaini15 replied to the topic Refinancing and new loan account setup in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4404248-refinancing-and-new-loan-account-setup/#post-4651950 Fri, 22 Jul 2011 04:36:09 +0000 I understand what you mean. Ideally, To pay down this loan with offset, re-borrow at time of purchase to have connectivity between borrowing and investment if using offset method. Also keep offset funds separate from personal use offset attached to the PPOR loan in case not refinancing at time of IP purchase. Otherwise go for LOC.

]]> f6ba985f8ed1dcfaab14e519888b95b1 amsaini15 replied to the topic Refinancing and new loan account setup in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4404248-refinancing-and-new-loan-account-setup/#post-4651948 Thu, 21 Jul 2011 09:32:04 +0000 Terryw wrote:
If you do decide to use the offset method, then make sure you have no money in that account when you deposit the borrowed funds. If you do then you will be in a greater mess.

This is exactly what I am trying to do. Will keep funds in separate offset accounts so that funds for investment are not mixed with my personal funds in…[Read more]

]]> 2a7dac270469d469235453939658b38b amsaini15 replied to the topic Refinancing and new loan account setup in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4404248-refinancing-and-new-loan-account-setup/#post-4651944 Thu, 21 Jul 2011 01:10:41 +0000 Terryw wrote:
What is the purpose. You cannot borrow for an increase in valuation. You also cannot refinance $1000 you paid into the loan last year – or youcan but the interest won't be deductible.I think this is dangerous. You shouldn't borrow money and place it in a savings account as that can break the nexus between borrowing and investing.…[Read more]

]]> fb6e6e86928d6ac671bb0443d8ea1648 amsaini15 replied to the topic Refinancing and new loan account setup in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4404248-refinancing-and-new-loan-account-setup/#post-4651942 Thu, 21 Jul 2011 00:13:38 +0000 Terryw wrote:
Amsaini,Are you saying you want to borrow an extra $25,000 and put it in an offset account?

Terry I will borrow $24K for the increase in valuation and $1K which I have paid into the loan in last 1 Yr. I will create a new account for all funds (25K) on top of my existing loan commitment. Will keep 25K in offset of this account…[Read more]

]]> fa87262ee7c3098e29ef970eaa2ca2d0 amsaini15 replied to the topic Refinancing and new loan account setup in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4404248-refinancing-and-new-loan-account-setup/#post-4651939 Wed, 20 Jul 2011 11:41:30 +0000 Jamie,  Currently I have 3 loan accounts 107K  (IO), 95K (P&I) and 45K (IO)  (This is for my 1st IP purchase in 2010)Moving on to fix up the mess I have created earlier,  I will combine 107K and 95K loan account into one , will leave 45K one as it is and create a 3rd account with the increase roughly 25K. This will be used for future IP or PPO…[Read more]

]]> 92d5a2b15a67e73eadf69b4444c1c913 amsaini15 replied to the topic Tax rules on leaving savings in a redraw account in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4403721-tax-rules-on-leaving-savings-in-a-redraw-account/#post-4648455 Wed, 20 Jul 2011 10:50:50 +0000 Thanks a lot Terry. The whole Investor community owe you a lot :)That was very precise, to the point advise with a excellent example.  I generally dont like/understamd LOCs. So when I will plan to buy IP, I would go with the pay off home loan with the offset, re-borrow upto 80%/90% (depending upon requirement) and use the increase to setup new loan…[Read more]

]]> a4fa4c64938151232b25a3896fa49d27 amsaini15 replied to the topic Refinancing and new loan account setup in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4404248-refinancing-and-new-loan-account-setup/#post-4651937 Wed, 20 Jul 2011 10:27:09 +0000 Thanks Michael.. This is bit confusing for the beginners :)I was under the impression once money has been paid off into loan (either in P&I loan or into Redraw), I have loss tax deductibility on the amount forever. But now I understand that by refinancing and topping up loan to 80% or 90% LVR (whatever required), we can create new loan account to…[Read more]

]]> c41d7834dae8c4f9041502887047a8f8 amsaini15 replied to the topic Tax rules on leaving savings in a redraw account in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4403721-tax-rules-on-leaving-savings-in-a-redraw-account/#post-4648453 Wed, 20 Jul 2011 07:47:58 +0000 So Terry, to arrange funds for IP purchase, are you suggesting the best possible way is by refinancing existing PPOR  and then redraw funds for IP deposit?

]]> 5505c705a51ad34618deaccf54418b7b amsaini15 replied to the topic Tax rules on leaving savings in a redraw account in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4403721-tax-rules-on-leaving-savings-in-a-redraw-account/#post-4648451 Wed, 20 Jul 2011 07:25:20 +0000 Terryw wrote:
Yes, until it is needed it should be kept in an offset account saving you non-deductible interest.I guess the main point is not to use offset funds for investments directly. (unless you have no non deductible debt)>

Terry, I understand that we should keep funds in offset account which I would be doing with my new loan setup. I…[Read more]

]]> 5bf9bca5a73087e5d3b357d713006339 amsaini15 replied to the topic 6.58% from Loans.com.au. Is it good for Investors? in the forum Finance https://www.propertyinvesting.com/topic/4403852-6-58-from-loans-com-au-is-it-good-for-investors/#post-4649291 Tue, 05 Jul 2011 07:22:00 +0000 Shape wrote:
https://www.loans.com.au/Pages/Home.aspx Ummm did loans.com.au just increase it's rate from 6.59- too 6.69 ??? without RBA movement, or was it a special rate etc??? and it looks like they changed the "5 years RBA linkage" down to 3 years..wonder what else has changed?

Michael, As per their press release on 31st May 2011…[Read more]

]]> 5ac7eaad480fb5fdd520dc059f0233b8 amsaini15 replied to the topic Is stamp duty tax claimable for IP? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4403673-is-stamp-duty-tax-claimable-for-ip/#post-4648015 Sat, 11 Jun 2011 10:52:16 +0000 Terry, Thanks. Cant't I argue that there was no way I could produce Cheque from my lender on short notice and transfer into Saving account was only a medium (Which Is confirmed by their short stay parking into my Savings Account)….Do you know what are the penalties if ATO find this arrangement as incorrectly being claimed as deduction?

]]> 92f5b7c988c43d1539a6e9c9fd41eb05 amsaini15 replied to the topic Is stamp duty tax claimable for IP? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4403673-is-stamp-duty-tax-claimable-for-ip/#post-4648013 Sat, 11 Jun 2011 10:23:44 +0000 Terry, Yep Saving Account did had around $1K at that time being my main transactional account as well.Is there any Ray of Hope for me based on TR 2000/2 (I dont understand them fully):First Exception – Borrowed money recouped and repaid 17. Where money borrowed and applied to a particular use (the 'relevant use') is recouped in whole or in part, i…[Read more]

]]> 4ad3fa393c959b6b6853f21b0e4d14bc amsaini15 replied to the topic Is stamp duty tax claimable for IP? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4403673-is-stamp-duty-tax-claimable-for-ip/#post-4648011 Sat, 11 Jun 2011 09:02:48 +0000 Here is the Sequence of Events (Purchase Price $320K)15/06/10 -Paid $800 (.25% of Purchase Price)25/06/10 -Paid $15200 (To make intial 5% deposit) from redraw of existing PPOR loan. (Variation completed 4 days late on 29/06)29/06/10 – Variation settled with existing lender – New loan account with the increase setted up29/07/10 – Transferred…[Read more]

]]> e58329ded71b78f0ff35553a0c2a21d9 amsaini15 replied to the topic 6.58% from Loans.com.au. Is it good for Investors? in the forum Finance https://www.propertyinvesting.com/topic/4403852-6-58-from-loans-com-au-is-it-good-for-investors/#post-4649286 Wed, 08 Jun 2011 01:49:57 +0000 ksherwell wrote:
Have you considered UBank or Beyond the banks? They too have 6.5% for refinances. Beyond can give heavy discounts I haven't heard of any better rates.

Kane,    UBank product is definitely not good for Investors who would possibly rent out their property in future as they only offer Redraw. No Offset. Beyond the Banks- I j…[Read more]

]]> 54a0055a661de68242367b80b2e0ab42 amsaini15 replied to the topic Is stamp duty tax claimable for IP? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4403673-is-stamp-duty-tax-claimable-for-ip/#post-4648008 Wed, 08 Jun 2011 00:02:38 +0000 Can somebody please confirm if Interest on loan taken to pay for stamp duty is tax deductible or not.E.g. –  I did a 45K topup on my PPOR to pay 10% deposit (32K) for Ip purchase + Approx 10K stamp duty + other purchasing costs. Can I count Interest charged on this loan portion for negative gearing purpose? Thanks

]]> a93d68836164dc97c1a07b2450cfb45d amsaini15 replied to the topic making existIng PPOR as IP - Redraw v/s Offset in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4403459-making-existing-ppor-as-ip-redraw-vs-offset/#post-4646690 Tue, 26 Apr 2011 09:24:08 +0000 Terry,              Just to clarify, Can I still withdraw money sitting in redraw in the IO loan portion of PPOR and use it to fund new PPOR purchase. This should not be classified as borrowing as the original loan amount remains same and amount sitting in redraw was just there to save on interest.I understand from what Terry explained that Amount…[Read more]

]]> ea136fb61ba808c6cfd69ac921852b09 amsaini15 replied to the topic Interest Rates Will Fall in the forum Help Needed! https://www.propertyinvesting.com/topic/4393910-interest-rates-will-fall/page/5/#post-4591317 Mon, 30 Aug 2010 11:16:29 +0000 Hey Mick12345, which website is that graph coming from??

]]> 5dbdf04b9b2995f6b4f2657bd6bc8610 amsaini15 replied to the topic 2nd Investment Property in the forum Help Needed! https://www.propertyinvesting.com/topic/4401030-2nd-investment-property-2/#post-4630858 Mon, 30 Aug 2010 11:11:13 +0000 Thats true rudra. But I would say market is slowing down and even if you take 3-4 months it will actually help you save more for the purchase.Probably wait for upstairs work to finish first and then start looking for IP.

]]> 55cc345babba6421222e1ca26ba8ba5a amsaini15 replied to the topic New IP - Installation of digital Antenna - Claimable? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4401044-new-ip-installation-of-digital-antenna-claimable/#post-4630916 Mon, 30 Aug 2010 11:06:37 +0000 ok. I changed oven, cooktop in kitchen and bathroom renovation with change in vanity and cabinet. But whether it can all be combined together or not, have to check with my accountant.Thanks

]]> c9ae8709bfa7beb1aa72687ae40a7457 amsaini15 replied to the topic New IP - Installation of digital Antenna - Claimable? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4401044-new-ip-installation-of-digital-antenna-claimable/#post-4630914 Sun, 29 Aug 2010 11:58:18 +0000 Mr5o1, Thanks for your reply.I have met tenants personally when they moved in. They seems to be nice people and requested for digital antenna. I am pretty sure they are up for long term stay in my property and I thought why not create goodwill. They look like they are going to take good care of the property. (They rented last place for 7 yrs) …[Read more]

]]> 3dd76513f88860e33e076d98111ebc49 amsaini15 replied to the topic First IP loan structure in the forum Apologies for delay in https://www.propertyinvesting.com/topic/4400781-first-ip-loan-structure/page/2/#post-4629392 Sun, 22 Aug 2010 05:43:58 +0000 Apologies for delay in replying..

Terryw wrote:
Why bother with an offset on the investment property? I would not use one there until you have fully paid off the PPOR loan or have the 100% offset attached to this at the level of teh loan.

So are you suggesting all IP related expenditures to come out of the same offset attached to PPOR?

Terryw…[Read more]

]]> f579b40342d64a924c5e1faf90ae2aee amsaini15 replied to the topic First IP loan structure in the forum Can somebody please confirm https://www.propertyinvesting.com/topic/4400781-first-ip-loan-structure/page/2/#post-4629390 Fri, 20 Aug 2010 13:31:19 +0000 Can somebody please confirm if this is the Ideal setup for PPOR and IP loan to make best use of funds..I have combined information from current and previous posts. This is assuming you want to have offset account only (no LOC) and PPOR may be turned into IP in future. PPOR and IP loan with different lenders.(1) PPOR (IO Loan)…[Read more]

]]> 347def1d8eb46e2f9e291ea495b40ace amsaini15 replied to the topic This is Must see for iPhone users in the forum Help Needed! https://www.propertyinvesting.com/topic/4400698-this-is-must-see-for-iphone-users/#post-4628882 Mon, 02 Aug 2010 14:32:40 +0000 Thanks Banker !! Awesome Data at your fingertips !!

]]> 9ca89073b18da6c10a4c2b7df74487e4 amsaini15 replied to the topic How to use Equity on my PPOR to fund IP with different lender in the forum Help Needed! https://www.propertyinvesting.com/topic/4400197-how-to-use-equity-on-my-ppor-to-fund-ip-with-different-lender/#post-4625807 Mon, 02 Aug 2010 13:58:42 +0000 Hi Sammmeee         I changed my existing PPOR loan with MyRate to IO but I have taken new IO loan for my IP with Commonwealth Bank. Thanks

]]> a02dc19bca74384320cf24f59613b794 amsaini15 replied to the topic LOC for maintainence and repayment surplus in the forum Finance https://www.propertyinvesting.com/topic/4400682-loc-for-maintainence-and-repayment-surplus/#post-4628769 Fri, 30 Jul 2010 02:21:34 +0000 cmason wrote:
My lender had this on thier website:An offset account is a feature of some mortgages. It is a savings account attached to the mortgage, with the balance used to offset the interest charged on your loan. Some lenders, such as <lender>, have a free redraw and additional repayment facility on their variable rate loans which have the…[Read more]

]]> af3da3e03e038db7bb8f74c7d1a00005 amsaini15 replied to the topic IP Loan Structure and Cash Flow Cycle in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4400643-ip-loan-structure-and-cash-flow-cycle/#post-4628527 Fri, 30 Jul 2010 01:45:29 +0000 Thanks Terry..            I think I have got answers to my questions now    Yes, Part of Loan A ($13200) will be invested later and that will leave Loan A s Mix loan. I will be better off paying down Loan B first.I will be careful in future to setup my Increased amount as a new split. Thanks once again. Your are a legend !!Aman

]]> c2e1099d5e7da112c3dceeef07f0c023 amsaini15 replied to the topic IP Loan Structure and Cash Flow Cycle in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4400643-ip-loan-structure-and-cash-flow-cycle/#post-4628525 Thu, 29 Jul 2010 02:49:18 +0000 Hi Terry   I know I have messed up in my explanation. You have explained well and I understand that but still I am not sure if this apply in my case. I will explain again my dilemma with actual facts. Please help me understand. I really appreciate your time and effort in this. Current Loan Situation:…[Read more]

]]> a104dba3891b2b0d2affed574e5dc5eb amsaini15 replied to the topic IP Loan Structure and Cash Flow Cycle in the forum Thanks for detailed https://www.propertyinvesting.com/topic/4400643-ip-loan-structure-and-cash-flow-cycle/#post-4628523 Wed, 28 Jul 2010 12:18:49 +0000 Thanks for detailed explanation Terry. In probably a year time, I will move away from my existing lender for PPOR to have both loans with my new IP lender and setup LOC there.Luckily I have changed my PPOR to IO now so If redraw on that 13,200 later for 2nd IP purchase, Tax-deduction calcuation should be still manageable.Now when I redraw on that…[Read more]

]]> f6d75f1f208d74bda2fc7fff5dd6acd7 amsaini15 replied to the topic IP Loan Structure and Cash Flow Cycle in the forum Terryw wrote:Do you have a https://www.propertyinvesting.com/topic/4400643-ip-loan-structure-and-cash-flow-cycle/#post-4628521 Wed, 28 Jul 2010 08:43:27 +0000 Terryw wrote:
Do you have a separate loan for the equity release? If not you should

Terry Just another question on this one…..I recently requested equity increase of $45200 from my PPOR lender. I have setted up separate loan of $32,000 to be used as 10% deposit for my IP purchase and mixed the remaining $13,200 into my existing PPOR loan…[Read more]

]]> 5e7ad736ca181797b7ac7aa60cc9eec0 amsaini15 replied to the topic Rent Deposit from IP into PPOR Loan in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4400639-rent-deposit-from-ip-into-ppor-loan/#post-4628500 Thu, 22 Jul 2010 04:55:53 +0000 Trev wrote:
Hi amsaini, the two properties are negatively geared.  The rental pays off part of the interest payments and the remaining interest debt accumulates. 

I wasn't sure if you can let remaining interest debt to accumulate while directing all payments into PPOR loan as ATO will see this as a scheme where we are paying off non-tax d…[Read more]

]]> 750bcab384a2fc59b9b492bf98ad65fa amsaini15 replied to the topic Rent Deposit from IP into PPOR Loan in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4400639-rent-deposit-from-ip-into-ppor-loan/#post-4628497 Thu, 22 Jul 2010 03:33:42 +0000 I think you still have to pay interest on an IO loan. Trev, how could the size of your IO loan increase if you still pay your interest .Terryw, Is it possible to setup loan in such a way to let Interest capitalize and direct all income and rent into PPOR loan. I asked my accountant and he advised this would not be possible in Australia (Possible…[Read more]

]]> 82c8e9d802bc5d66602c17b9b1af3b1e amsaini15 replied to the topic tenants in common - Different legal interest in the property in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4400232-tenants-in-common-different-legal-interest-in-the-property/#post-4626017 Mon, 14 Jun 2010 13:35:49 +0000 Thanks Paul.. Very good explaination. I have to now think about it if I want to keep it different from 50-50.

]]> 8b57f72a1b8a5682a4dd076eb757e4fb amsaini15 replied to the topic How to use Equity on my PPOR to fund IP with different lender in the forum Thanks Sandra !! Much https://www.propertyinvesting.com/topic/4400197-how-to-use-equity-on-my-ppor-to-fund-ip-with-different-lender/#post-4625805 Mon, 14 Jun 2010 11:22:18 +0000 Thanks Sandra !! Much appreciated.

]]> 915ebd8657f043ca5feec0c856484027 amsaini15 replied to the topic How to use Equity on my PPOR to fund IP with different lender in the forum Help Needed! https://www.propertyinvesting.com/topic/4400197-how-to-use-equity-on-my-ppor-to-fund-ip-with-different-lender/#post-4625804 Mon, 14 Jun 2010 10:06:59 +0000 Thanks Greg for the detailed explaination. I am going with the IO loan with the offset. Thanks for the confirmation that this arrangement is  fully funding the IP purchase.

]]> 8937b8d760dfaa2b5771eda43f2e85db amsaini15 replied to the topic How to use Equity on my PPOR to fund IP with different lender in the forum Help Needed! https://www.propertyinvesting.com/topic/4400197-how-to-use-equity-on-my-ppor-to-fund-ip-with-different-lender/#post-4625801 Fri, 11 Jun 2010 13:37:30 +0000 SandraL wrote:
Amsaini,I think you should be able to set up an LOC with your existing lender (MyRate) to access the equity on your PPOR. This then becomes the deposit for your IP. You can then take out a new loan for your IP with CBA or whoever you like. The interest on the LOC will be tax-deductible, since its purpose is the IP. So a pretty…[Read more]

]]> 21aff1d434ca8933bc5c8cdb9de2f242 amsaini15 replied to the topic How to use Equity on my PPOR to fund IP with different lender in the forum Help Needed! https://www.propertyinvesting.com/topic/4400197-how-to-use-equity-on-my-ppor-to-fund-ip-with-different-lender/#post-4625800 Fri, 11 Jun 2010 12:45:04 +0000 Thanks everybody for the solution. Now the tough decision that I have to make is whether I can trust Myrate to process breakup faster so that I can have both loan with CBA or if I have to stay with MyRate at 7.1% LOC loan.CBA lender was telling me some lenders take long time (5-6 weeks to process the transfer of loan) which would put me in trouble…[Read more]

]]> 0f2f0535a1156e79f9239c923d6c64f2 amsaini15 replied to the topic Free Recent Sale and Rent Information for any suburb in the forum General Property https://www.propertyinvesting.com/topic/4399943-free-recent-sale-and-rent-information-for-any-suburb/#post-4624549 Sun, 06 Jun 2010 23:07:56 +0000 Thanks duckster and DD.@duckster – I have now subscribed to the Australian Property Investor Magazine for 12 months. As you said, I think this will help me get more understanding of the current situation.@DD – Thanks for the detailed info. I can see you have a good understanding of this area.I am keeping an eye on the market but it seems house…[Read more]

]]> 980be3f561b272bc0abe3761e74374d9 amsaini15 replied to the topic Free Recent Sale and Rent Information for any suburb in the forum General Property https://www.propertyinvesting.com/topic/4399943-free-recent-sale-and-rent-information-for-any-suburb/#post-4624546 Tue, 25 May 2010 14:40:16 +0000 Thanks Richard, I will email you as soon as I have property of interest. CheersAman

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