PropertyInvesting.com | jaiterry | Activity https://www.propertyinvesting.com/members/jaiterry/activity/ Activity feed for jaiterry. Mon, 13 Apr 2026 17:30:38 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 f0faeaf274c80588ac73ce85cd4ecf06 jaiterry replied to the topic Redraw facility abuse! What are the implications for future investing? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4405870-redraw-facility-abuse-what-are-the-implications-for-future-investing/page/2/#post-4663825 Sun, 15 Apr 2012 00:33:27 +0000 Bingo! If only I’d cared to research it six years like Gazza!

]]> 9647c4032e72423a59ef19f44e785cc0 jaiterry replied to the topic Redraw facility abuse! What are the implications for future investing? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4405870-redraw-facility-abuse-what-are-the-implications-for-future-investing/page/2/#post-4663820 Thu, 12 Apr 2012 23:30:56 +0000 I could easily demonstrate that I have invested in renovations for the property which was one of the points that the accountant made. Do you think that is a valid argument. I’ve spent far more on the property that what has been redrawn especially if I “return” the 55K.

]]> 6f48500b8f81b527b718c051d5ed0c6f jaiterry replied to the topic Redraw facility abuse! What are the implications for future investing? in the forum htopg - sounds like a great https://www.propertyinvesting.com/topic/4405870-redraw-facility-abuse-what-are-the-implications-for-future-investing/page/2/#post-4663818 Thu, 12 Apr 2012 23:11:14 +0000 htopg – sounds like a great position to be in! Unless you HAVE to move out like I do you are living rent and mortgage free so cash flow should be good and a good amount of equity.

Interestingly, I spoke with another accountant last week who backed up what the other guy told me – that I don’t really need to worry especially about the older redraws…[Read more]

]]> 9b1b3d8e647357bd3ec6daaaf52ce103 jaiterry replied to the topic Redraw facility abuse! What are the implications for future investing? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4405870-redraw-facility-abuse-what-are-the-implications-for-future-investing/#post-4663815 Sun, 01 Apr 2012 11:20:49 +0000 Great article in the latest API from Julia Hartmann that covers this exact scenario and it backs up exactly what you’ve said terryw so thank you. She runs through the same apportioning argument you’ve suggested above – anyone wanting to know above redraw should read it.

Interestingly I went to see an “accountant” who was part of a wealth…[Read more]

]]> ebb480a493486445579ec24e0ad4189b jaiterry replied to the topic Redraw facility abuse! What are the implications for future investing? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4405870-redraw-facility-abuse-what-are-the-implications-for-future-investing/#post-4663813 Tue, 21 Feb 2012 11:01:46 +0000 Hi Terryw,

Just to clarify, I am looking to move out of my PPOR and rent myself whilst investing in further property using the 125K I have at my disposal. So in the end I have more cash in my offset account than I have ever redrawn and I intend to use it for investment. Just not sure how to prove that on the books and make my original PPOR (now…[Read more]

]]> 205b65cf8d86287335f3918ef2c952a4 jaiterry replied to the topic Redraw facility abuse! What are the implications for future investing? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4405870-redraw-facility-abuse-what-are-the-implications-for-future-investing/#post-4663809 Fri, 17 Feb 2012 10:15:28 +0000 Now there is an interesting proposition… item C.

I have a considerable amount of equity in my home (>50%).
Perhaps there is a solution in there for my scenario.

Regards
jaiterry

]]> 1a3dbe0e581beae6072cffcd40c69191 jaiterry replied to the topic Redraw facility abuse! What are the implications for future investing? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4405870-redraw-facility-abuse-what-are-the-implications-for-future-investing/#post-4663807 Fri, 17 Feb 2012 09:48:34 +0000 Thanks Terryw for taking the time to give me that example,

That does make sense and clearly I’ve oversimplified what a mistake I’ve made. My scenario (lots of little redraws overtime) will be even more complicated than the example above! I’ll have to show an accountant my data and see if it can be salvaged.

Word of advice to everyone if you ever…[Read more]

]]> 59f233fdc6958a7bc1897f651066e966 jaiterry replied to the topic Redraw facility abuse! What are the implications for future investing? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4405870-redraw-facility-abuse-what-are-the-implications-for-future-investing/#post-4663804 Thu, 16 Feb 2012 10:10:54 +0000 So the current value of my loan is $325K – if I refinance to a new $325K loan I can’t claim a deductions of all the interest on this loan? I would keep the already redrawn/saved cash separate (as it is now).

What I was afraid of is that I’ve paid this loan down in the past to $274K and that would be the only amount of the loan I could claim…[Read more]

]]> c9efbdeec24beeae840cfbb661e7156d jaiterry replied to the topic Hybrid Discretionary Trusts in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4404955-hybrid-discretionary-trusts-2/#post-4657305 Thu, 16 Feb 2012 09:16:46 +0000 Found it – thanks Terryw

]]> 8ec506b5bcb84c1e385eb61fe885b4f0 jaiterry replied to the topic Redraw facility abuse! What are the implications for future investing? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4405870-redraw-facility-abuse-what-are-the-implications-for-future-investing/#post-4663802 Thu, 16 Feb 2012 08:07:16 +0000 Thanks all!

Sounds like I’ve badly contaminated the loan unfortunately – but as Paullie suggests I might refinance. Since we will be turning it into an IP and renting it out I will be looking to switch to Interest Only anyway (currently P&I) so this seems logical. Please let me know if anyone thinks this won’t work.

Catalyst – definitely…[Read more]

]]> 8ef3adfa6f8e8fa4575588975f9659c5 jaiterry replied to the topic Hybrid Discretionary Trusts in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4404955-hybrid-discretionary-trusts-2/#post-4657303 Wed, 15 Feb 2012 23:01:17 +0000 Hi Terry,

You’re insights are great – thanks for sharing. I’m still trying to understand when a hybrid trust becomes the “best of both worlds”. For tax deductibility of the interest on the units I understand that the unit holder must have a set interest in relation to the amount of units purchased. Does that mean that once the assets grow the…[Read more]

]]> 59d18839862915bb462d73331a8aeb3e jaiterry replied to the topic WealthScore.... How Did You Go? in the forum General Property https://www.propertyinvesting.com/topic/4390643-wealthscore-how-did-you-go/page/7/#post-4573219 Tue, 29 Nov 2011 02:54:45 +0000 My score was -322 but when I calculated it per the caption ( [Investment assets – Personal Debt] / Salary ) it comes out at -1.28?? Am I missing something that the real calculation isn’t that simple?

I know the message is the same (i.e. start obtaining investment assets to fund your lifestyle) but I’m a little disappointed in the way they message…[Read more]

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