I wouldn’t be surprised. Other than my more successful investor clients I know very few people who have written goals.

Cheers,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any…[Read more]

Well here’s a thing. The commercial lending market has so many variables that quoting a rate is difficult. If you go to 80%+ then 8-9% is typical. Higher LVR is a higher rate again.

Cheers

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant…[Read more]

Originally posted by donaldx:
Originally posted by Terryw:
eg. If someone were to use a LOC on an investment, and then have their wage deposited in to the LOC account, the ATO would class this as a repayment. If they took money out to buy food, then the interest on this would not be claimable as it would be new borrowings for domestic purposes.…[Read more]

Originally posted by Terryw:
Originally posted by donaldx:
There can be serious tax implications with using a LOC. Offset is much simpler
Hi Terry,

Can you elaborate on the potential tax implications of using a LOC? I’m using a LOC for my development project, so I’m very interested to any potential problems with this approach.

Thanks,
Donald…[Read more]

I would be considering a professional package with a major lender. This will also save you other banking fees etc.

Cheers,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment,…[Read more]

Interest on a new loan – yes.

interest on interest = capitalising interest = no.

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should…[Read more]

I see my children as being stakeholders in the family enterprises and as such I try to treat them as equal as they have the capacity to understand and/or carry.

I am not such a private person that I worry about their friends and friends families knowing my business. Is all good as far as I am concerned.

Cheers,

Simon Macks
Residential and…[Read more]

Redwing is correct.

Deductibility of interest is determined by the purpose of the loan not what it is borrowed against.

So to draw money to buy a new PPOR will not be deductible even if drawn against a rental property.

There are different strategies to get around this. Some quick and expensive, others slow and cheap.

Best to do some searching…[Read more]

Originally posted by learn&share:
A good accountant should also be able to advise you how to structure and utilise the LOC or offseting.

I would like to hear how this can be done as well. A LOC is little different than an IO loan. What is paid in is lost and what is drawn is deductible only depending on the purpose it was drawn for. If an…[Read more]

They seem just like all the others.

I am sure you can do better than them.

Cheers,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should…[Read more]

Well not being on a salary mine is always hard to define. I would tell them the truth.

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you…[Read more]

All the oruginal forums are still there with all the same faces.

All that has changed is a few new closed forums for the paid subscribers.

Any division is in your perception [biggrin]

Don’t build walls where they don’t need to be!

Have a great weekend,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70%…[Read more]

Originally posted by mogul1975:
Derek,

I’m not sure I understand your rationale.
1. I intend to sell my IP’s to repay my mortage on PPOR.
2. My PPOR is now owned free and clear of mortages.
3. I now wish to buy some IP’s.
4. It would be nice to be able to buy back the IP’s I sold in Step 1, thus making all of my new debt investment debt. I was…[Read more]

Originally posted by asdf:
Hi Shwing,

That sounds like a fantastic idea. Never thought of that. I’m pretty sure interest on interest is tax-deductible

Interest on interest isn’t deductible and that isn’t what Schwing was suggesting.

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70%…[Read more]

Some pretty powerful examples Harry. You must have some good contacts to hear about those deals. I know they don’t come by me very often.

I don’t disagree with all you say. But when you are buying cheap for short term growth that is a different game and one with different risks.

Please don’t think I am knocking you. I am impressed by what…[Read more]

Derek is spot on.

You cannot simply transfer debt like that to change the deductibility. There are however, ways to swap non deductible debt to deductible.

Some are fast and cost a substantial amount in stamp duty others are free but slower.

It should be the goal of all investors to have 100% of debt tax deductible.

Cheers,

Simon…[Read more]

Sounds like the company was started over a long boozy lunch [biggrin]

Sorry never heard of them mate.

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation…[Read more]

Originally posted by hb:
Mortgage (I have been through three booms) Hunter.
did thou not heed the sentiment about property through the bust cycles?
was property not on the nose?
where the papers not ripe with mortgagee auctions?

ahhh how quickly one forgets…..

i remember well a property investor hocking himself for over 1 mil only to find no…[Read more]

I already have changed my power provider.

Cheers,

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

Is this a trick question? Sounds like something the doorknockers ask [blush2]

I am sure most people would say yes.

Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial…[Read more]