Scott No Mates wrote:
It is very simple to find lost super (although they don't update the database once you have found it & amalgamated it with your other super). Many super websites (or even your favourite search engine will find our lost super).

Unless you reach 65 years of age because it is automatically transfers to the ATO and you have to…[Read more]

Terryw wrote:
Hi WayneThere was that recent case in NSW where an agent sold a house where one son of hte family killed his parents and a sister (gozales family). The house was sold to a Taiwanese couple who where from out of town and not familiar with it. They were also superstitious. They eventually found out and sued the agent. Think the…[Read more]

Great Video Joel, Just some feedback for you.Rain – Use a tarp with four tent poles over work area Panning video – Try and do a slow smooth movement of the camera rather than rapid jerky movements. Removing Rose bush and moving stones you could have hired a dingo for speed versus cost.Continuity Mistake- You state you are off to your first reno…[Read more]

Line of equity loan on property one = est value * 80% – loan owingloc= 425,000*.80 – 305,000loc = 340,000 -305,000 =$35,000Now Stamp Duty will be the big Killer it could use up the $35,000Then you have Loan Mortgage Insurance this might be able to be added to your loan depends on lender.But now after stamp duty and lmi you may have no…[Read more]

You could offer to rent out a bbq as an extra and it also allows smokers to smoke outside your house if renting it.

Also if at University be careful if on Austudy as if you sell in the same financial year as the Austudy and make a capital gain Centrelink wil deem you earned income and take back some of the Austudy as it will be deemed over payment. Been there Donethat !

Hi,Welcome to the forum.I am in a similar predicament .Although I do not own my own home I can't advise you on selling your investment property but want to point out a few things.Are you claiming depreciation on the investment property get a quantity surveyor to assess the property.You may need to fix your interest rate or sell , you can't do both…[Read more]

I had to add some more comments in !You are on low incomes.Lets take an example of you earn $50,000 and your partner earns say $45,000Now with the tax scales$0 –          $6000             is  nil$6001 –   $34,000 is 15% $34001- $80,000 is 30%$80,001 – $180,000 is 40%see http://www.ato.gov.au…[Read more]

morgan1 wrote:
Hi, am looking for something fairly positively geared as the rising interest rates are scaring me.Worried we're in over our head (a 2% increase will increase our annual interest repayments by over $40,000, and we don't have much of an income to negatively gear.)  .

Consider fixed interest rate loans if you think you are in…[Read more]

THis is another form of protectionread thishttp://www.rpemery.com.au/online/cohabitation-agreement.html

I think you probably get the loan in her name and you go guarantor on the loan if mum doesn't qualify for the loan.This means if mum defaults on her loan it becomes your sole responsibility to take on the loan repayments.The bank only cares about the loan being paid back and that your mum or you keep up the loan repayments.By going Guarantor the…[Read more]

Check with the bank / lender if they will lend against student apartments and if loan  mortgage insurer will insure it as if no LMI you need 20% deposit .Also are the apartments rented out all year round or just during the two semesters as university students get long holidays at the end of the year and between the two semesters.

A line of credit is like an elastic band. You go to the bank and ask for a line of credit loan. They look at what your income is and what is your allowable LVR. (loan to Value Ratio). So say as an example you have a house worth 400,000 but a loan of say $200,000 based on an 80% LVR you can borrow 80% * 400,000 = 320,000 as your loan is 200,000 you…[Read more]

How do you work out the interest charged on the redraw to work out the investment tax deductible amount?You can easily see the interest charged on a split loan as one loan is private and the new one is for investment purposes.There is a loan called a line of credit.

You have to be aware of service ability as well as equity when borrowing. It is a good idea to go and talk to your loans manager at your bank to get an idea of your borrowing capacity before you get too excited out in the market place. If you are planning on getting aus study any negative gearing is added back to your income to work out your…[Read more]

MsTrump wrote:
never too late, that's certainly an alternative we could consider, but the lack of people renting out the second property during that first year means 100% of the loan expenses will have to be covered by us during that period. Otherwise if there are renters inside, at least we'll only cover some portion of the loan, not…[Read more]

Your new income may have to wait till you are permanent in the job and considered permanent by the bank to borrow from the bank.

Suchy wrote:
hey,Is my income enough to consider purchasing an investment property when I have only a few expenses ( petrol, phone credit, food, rego & insurance )

Depends on what amount you want to pay for the i…[Read more]

Really depends on ownership structure on Properties Title. If Joint Owned then it would require a transfer of ownership with a solicitor. Stamp Duty and Capital Gains Tax would be payable with the transfer of ownership. If Joint owned she owns 50% If Tenants in Common she could own a 40% stakeIf a trust is used you need to talk to solicitor or…[Read more]

Bronte wrote:
Hi!I want to work out an LVR by adding a 2nd property to an existing mortgage – but am uncertain about where the cash deposit fits into the equation.For example:I have one property valued at 440k.I want to purchase a 2nd property valued at 524k.My mortgage on the 1st property stands at 378k.That means (*I think*):Valuations of 440k…[Read more]

Employ a quantity surveyor and they will work it out for you.If you work it out yourself it is quite involved.The date the renovations were done would be needed and the costs involved.Then you need to find out the effective life spans of each item in the renovation.You can use diminishing depreciation but the calculation is more complex as you…[Read more]