I may have misunderstood your question so I will rephrase it. You are suggesting borrowing money from the investment property Loan or equity loan and then using this loan to pay for your PPOR non investment mortgage. You cannot claim negative gearing as the purpose of the loan is not for an income producing purpose but rather to pay off your PPOR…[Read more]

I was driving a 1986 Toyota Cressida but it needed the front steering rack replaced $1000 and the Alternator $400 and the rear leaf springs are dicey. So I have $2000 of repairs for a car worth <$1000 So I have just lashed out an got a $5000 car a 1997 Magna while the other work car is a Falcon A series car $10,000. So no BMW however if you were…[Read more]

Dan42 wrote:
The superannuation is being added back, I think, because people were rorting the system. People were salary sacrificing amounts to avoid child support etc. If you can afford to salary sacrifice super, you don't need government welfare payments. 

Child support maybe but not families that are trying to improve their lot over the…[Read more]

Thanks for that. I don't have a steady two year income stream yet had to sell most of my shares to avoid the market collapse. Also the private business I am running has not made huge income yet ,but that's cause I am running it part time as well as being house dad. My two kids start school next year !Who knows might be able to spend time trying to…[Read more]

It varies with lenders you will have to ask the lender if they capitalise the mortgage insurance costs and stamp duty. And ask what max LVR they lend to.

I am having the same problem , Came out of University and found no one will employ me – Now currently not looking for a job until at least the start of 2010. House Dad – Wife works. But income not enough to borrow more than $70,000I have $180,000 in equity but no regular (Just Over Broke) income I have rental income and could produce income from…[Read more]

If you property has risen in value it would be prudent to get as valuation to get a cost base recorded when you change the use of your property as this is a CGT event. You will find out about it when in the future you decide to sell and find you have a Capital gains tax liability.

Fences can give you a real headache when dealing with neighbouring fences as usually the neighbour pays half. If your neighbour is not a rich landlord I would suggest getting quotes done for a fence and then providing it to the neighbour. Once the neighbour gets over the shock of having to pay out money they were not expecting they might be happy…[Read more]

If you plan to rent out a portion of your house then a proportion of the floor space is subject to CGT or as worded by ATO that portion is no longer be CGT exempt.So if you rent out say 20 square metres and the house is 30 square metres then 2/3 of the house is subject to CGT. It would be prudent to get a valuation so you know what the cost base…[Read more]

I have not done it before but when the size of the units increases you need to look for commercial lenders. If you go commercial the lending rules are totally different so you need to get advice from a commercial lender or a mortgage broker that has a commercial lender on their panel of lenders.

hvhomeowner wrote:
Nope that's not it. Our home is in Hidden Valley, the old Holmes A'Court Stud farm which is now an estate. 2500 acres but only 950 housing permits so it's not like living in the town itself. Hidden Valley is about 3 minutes out of town up the Northern Hwy.Yep our agent has listed us on both the websites you've mentioned. We've…[Read more]

You have a problem – over supply of properties for sale in Wallan.I counted 180 houses listed on http://www.realestate.com.auHas your real estate agent advertised your property on this web site?is it this advert as I don't know what your property…[Read more]

They are stone looking pavers but they sit on a plastic frame and the plastic frames click together like a jigsaw piece. In the garden section. I think I have seen timber ones as well .

tanjaa wrote:
My cousin and I want to form some sort of partnership and purchase properties together.  We want to set it up so that:a. It does not affect our current income (be both work) 

This question doesn't make sense. How do you think it affects current income or are you referring to assessable taxable income?

tanjaa wrote:
b. It does n…[Read more]

From an economic definition we have missed a recession but this could be due to the stimulus package creating spending.However the unemployment rate is up and the business investment is down . So we are not out of the woods yet.If you lose your job then you will not be spending money !

Reportable employer superannuation contributions are the voluntary amount that you get slary sacrificed above the amount that the employer has to pay on your behalf due to law on super guarantee.Why you would want to put money of your own into super that you can't access till your 65? . Non reportable is the amount that has been paid by the…[Read more]

do not let gold digger live with you or marry you without a financial agreement that protects your existing assets being signed by the gold digger in front of their solicitor.seehttp://rpemery.com.au/binding-financial-agreements.html?gclid=CJL90YTE6JoCFQMdewod8FDhBwAlso set up a trust that is owned by your non name related company LTD

When I worked for Telstra prior to 2000 the workers had to show the receipt for the motel to get LWA paid because you could be staying at a mate's place rather than staying in your other house.

I thought about investing in a car park but wasn't sure about GST on rent as it is probably commercial and the parking tax in CBD areas.What made me think about it was the low price enabling me to pay it off quickly and then build up cash flow to buy another one and pay it off quickly but I haven't gone ahead with it yet.

What about service ability – you may not earn enough to borrow $350k and you may need to pay legal costs, stamp duty and mortgage insurance. Are you living in it if you buy it ?If yes you may be eligible for first home owners grant.Your parents probably are sitting on a large equity amount with their house that they could borrow against to then…[Read more]