It must be your only home and there is no timeframe.

If you sell your home there is no CGT payable unless it was an IP prior to being your PPOR.

In this case the CGT is proportioned over the period you rented it vs the total time you owned it.

There is also a 50% reduction if you owned the asset more than 12 months.

Seek professional taxation…[Read more]

Where did you get those valuations from?

Do you expect the values to drop further? If not then perhaps spending another $10K to sell it plus another $10K to replace it might not be a wise move.

Would you buy it again at todays price? The answer to that might help you decide whether to sell.

All the best,

Simon Macks
Finance…[Read more]

What is the size of the apartment?

The issue is getting it past the Mortgage Insurers who aren’t at all keen on <50sqm dwellings.

It is true that many people believe studio apartments to underperform however I cannot find any data to support this.

Perhaps you need to seek the anectdotal evidence from people in the real estate…[Read more]

Having your PPOR in a trust or company is a much more sophisticated approach and there are ramifications such as loss of CGT exemption.

Make sure you get very sound advice before tackling this step. I don’t mean to be negative – just counselling being informed.

Cheers,

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228…[Read more]

If you have any non deductible debt then I would suggest IO with all principal payments directed to that non deductible debt – the classic is the PPOR loan.

Remember that only the interest component is tax deductible.

If you wish to buy more property then IO so that your money can spread further.

Remember with IO you can make principal payments…[Read more]

Originally posted by Mobile Mortgage:
Apologies Simon I dint see your post, I was about to submit my reply but was distracted by a phone call, Cheers.

Regards
Steven
Mortgage Broker

Mobile Mortgage Market
Ph: 0402 483 216
info@mobilemortgagemarket.com.au
http://www.mobilemortgagemarket.com.au

PLEASE note comments made should not be taken as…[Read more]

A third advisor might even suggest IO with an offset account [biggrin]

Without knowing more of your situation and goals it would be irresponsible to make any recommendations.

All the best,

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

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

Originally posted by nkibel:
The only thing you could do is invest in New Zealand where you will recieve positive cashflow and growth.

Nigel Kibel

The only thing Nigel???

I would expect a little bit more flexibility in options from a professional such as yourself?

You wouldn’t happen to be involved in marketing NZ property would you?

I…[Read more]

Some points:

The xcoll isn’t the end of the world. I would leave it for now – at the very least dont lose sleepover it at this stage.

I would consider IO for all loans and have an offset on the PPOR for all cashflow and savings.

Do not use this offset for anything except undeductible debt – ie another PPOR, car etc.

If you decide to buy…[Read more]

I sold a couple of Brisbane places when I was younger back in the late 80s and early 90s.

Of course hindsight tells me that the $100K sell price would be now $250K++.

Would have been easy to hold though.

Those lessons will strongly influence my future plans.

Cheers,

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments…[Read more]

What sort of units are they in Cairns? Serviced or normal residential?

Well done

Simon Macks
Finance Broker
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.

I have just been through this post and deleted everything which did not add value to the thread.

Colbert and his aliases have been blocked from posting.

Please advise me by email should he rear his head again.

All the best,

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to individual…[Read more]

I have travelled much of South East Asia. My favourite is Laos and my wife loved Cambodia (She travelled through there on her own woth no troubles). We both enjoyed Hanoi and the North of Vietnam but not so keen on the south.

If I was to find a cheap friendly place for a few months then I would go back to Lake Toba in Sumatra. It is a few…[Read more]

Well I guess some of us should take on board a lesson about jumping to conclusions without verifying the truth.

Have a great weekend,

Simon Macks
Finance Broker
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]

Nigel,

Have you been to Geraldton? I doubt you would call it a one horse town – is is a fairly large regional city, possibly one of the larger ones in WA outside of Perth.

Cheers,

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

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

http://www.hunterhousehunters.com.au

Ask for Mick and tell him Simon sent you
[biggrin]

Cheers,

Simon Macks
Finance Broker
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.

Of course you can.

However if you use it to purchase a new PPOR or any other personal expense then that portion of the loan will no longer be tax deductible.

If you pull money from an offset and use it for a PPOR or personal expense the original loan is unaffected and still tax deductible.

This can be a tricky concept to grasp. I am more than…[Read more]

What makes you think this is a democracy Rob?[biggrin]

Yo ureckon I would have this job if voting was allowed lol

Cheers,

Simon Macks
Finance Broker
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…[Read more]

I have never done this with a lender before.

One idea might be to take out a margin facility against the shares and use the funds released for a deposit.

This is a higher risk strategy and you best discuss it with your accountant.

Cheers,

Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985

Comments may not be relevant to…[Read more]

All of those questions depend on your current loan. You should ask your lender or your broker for advice there.

If you have a redraw fee then an offset will save you this fee – but also make the money more accessible which some people find dangerous.

If you feel that you might ever make your PPOR into an IP I would strongly recommend you…[Read more]