No Dennis as Michael has mentioned in Brissie you might be waiting a while and the FHOG may have disppeared.Wouldnt pay it off but would structure it correctly and it will have the same effect.CheersYours in Finance

Dennis agree with the boys i would stick to a couple of suburbs you are confortable in and get to know them. Structure the loan correctly so that you can comply with the loan conditions as well as maximise your Tax deductions going forward.So many lenders try and push P & I loans without the thought or knowledge of loan structuring.I would even t…[Read more]

Sorry Glenn cant help you in WA.CheersYours in Finance

Hi LeeSure feel free to drop me a line.Email address below.CheersYours in Finance

NAB are not the best when it comes to Bridging Financing and there are a lot better options out there.Without more information it is of course difficult to comment or advise further.Are they doing it as a true bridging deal ?CheersYours in Finance

I am with Terry as far as i am aware their is no spousal concession on the Duty in the ACT but remember you would only pay it on 50% of the value. so around $9000 with legals.Of course in saying this you would only be able to claim interest on 50% of the $550K (going to take you circa 2 Years to get your money back based on a 30 cents in the…[Read more]

Apologes Mike i thought your father owned both sides of the duplex.No there will not be any CGT implications if the property is his owned as his PPOR and your friend will qualify for both the FHOG and the Stamp duty exemption based on the fact he intends to occupy the property.CheersYours in Finance

Hi MichaelThe transfer of ownership would be considered a sale of the asset so Stamp Duty would be triggered (course certain exemptions may apply) and possibly CGT for his father.As long as he would qualifies for the FHOG then there is no issue in him purchasing from a related party however the security worries me as a Duplex implies 2 properties…[Read more]

Which State is the property in?The amount of duty will vary and maybe favourable in certain States.Certainly worth doing the numbers.CheersYours in Finance

No dramas feel free to shoot me an email with the numbers and i will try and make some suggestions.CheersYours in Finance

I must admit i read your post a couple of times and got slightly confused with your numbers but in essence Yes you should be paying the minimum payment on your investment property and putting the additional funds into the PPOR.Unfortunately not enough hard data to make a suitable recommentation but i am sure there are a couple of ways you could…[Read more]

Hi LYes doesnt matter who the Vendor is SD is payable at the applicable rate.CheersYours in Finance

Trouble is whilst you would still get the FHOG 2nd time round you wont in Qld get the concessionary Stamp Duty and that is a decent sized saving.CheersYours in Finance

Hi DaveYes it can be done and if you want to read my API magazine article you will see how i did it.In saying this you need to bear in mind that in the current climate it is going to take time and you are going to need an income to support the borrowings both for the existing borrowings and also going forward.Certainly once you have built up…[Read more]

Yes the question of deductability is based around the "purpose test" and not the security offered.As i have mentioned before you could have the loan secured against a pogo stick and use the funds for investment and the interest charged would be deductible.Admitedly i havent done a pogo stick loan for a while.CheersYours in Finance 

As Jamie said remember the discounted Stamp Duty rate on a 300K purchase and the FHOG could amount to a savings of around $15,000 on Settlement.Once you have satisfied the State requirements for both you can move out and make the property an IP.Going to take you a swag of rental income to get $15K ahead.Structured correctly this saving could be t…[Read more]

Hi LeeDont hardly do a deal these days as very limit market place but usually over 3-4 years and residual will depend on what the machinery is.Not a great answer but not much to go on.CheersYours in Finance

Sorry Mike Yes good point.I was assuming he was a mere whim of a lad.CheersYours in Finance

Other issue Michael is most Company PIBS have limited security (Usually ranking below A Class and Preference shareholders) so tend to trade at a higher rate of return than AAA Govt Bonds.Currently for say the 6.25% coupon maturing Apr 2015 you are paying around 108.50 so well over par value.Only reason i now was looking at the increase in Bond p…[Read more]

HI YIBoth financed a few and also own one myself here in Brissie.Certainly you can use equity in IP's as collateral security but you should still be able to borrow against the value of the rent roll.Havent done one for 6 months or so but you are still able to get circa 50-60% of the value of the roll.Going to depend on the business valuation and…[Read more]