Hi RabbitGood to have you with us.Ok my friend i think you have caused yourself a problem.1. how can i structure my loan bal so i owe most on the IP….  is it possible i can move the amt paid on my current PPR to the new property (the amt -40K i reduced the loan amt back in feb)… so i can owe maximum on the unit (current PPR) when i rent it…[Read more]

MichaelWe are but they have to be over 1000 year old.

Hi NigelThere is no issue in wrapping the property to her daughter.Under the Related Parties section of the SIS Act you are unable to rent the property from yourself however as long as Suehe daughter is not a Trustee she will be fine.$3000 sounds like a lot of money to establish a SMSF. We normally charge $999 but i guess it pays to shop…[Read more]

One of the beauties of you wrapping the property to your daughter is you can set the sale price, interest rate and repayment program to suit her income.I am not sure i would waste money on a Financial Adviser (unlike myself not all of FA promote property) as most of them only have one thing at heart and that is there pocket and not yours,God…[Read more]

TuggerCouple of things to note.Most lenders will allow ther loan to be an interest only loan during the construction phase and then try and convert it to principal & interest on completion. Make sure the loan remains Interest only  with a 100% offset  account to the loan.When you decide to move out and into one of the IP's switch the offset a…[Read more]

Pleasure mate. Not going anywhere so hope to be here for many more years to come.

Hi OryxWill answer the other questions later in the day but just on the finance front you would be able to obtain 80% lvr as a Foreign Resident with certain lenders.

Tug In the good old days like 6 months ago I would have said Yes you would be entitled to a partial refund but only if you sold it or refinanced elsewhere. Unfortunately these days no chance.Also if you are staying with the same lender then no refund would be available anyway.

No wont be able to stop the name change going through if you have signed the Transfers and thee have been lodged.On the basis that it was an investment property when you first purchased it in 2001 then the purchase of $170K will be used.If using the concessionary rate as you have owned it over 365 days it isnt going to a be cheap exercise.

Not quiet Nil Tax in your position but i know what Terry means and agree.

No as long as the loans arent cross collateralised or cover under an All Monies Clause.Who is / are the loan / s with ?

No as long as the loans arent cross collateralised or cover under an All Monies Clause.Who is / are the loan / s with ?

Hi DWGHate to say your advice is correct. There may a few things you can offset against the Cost Base but these are limited. I would try and get a couple of letterhead valuations stating the estimated valuation as close to your original purchase price as possible. 

Problem with your strategy is that when you redraw the funds from the IP unless they are used for investment the interest is know not Tax deductible.Keep it in the offset account and you not contaminated the Tax deductability of the interest as well as having the funds on call.

Think this one has been answered on Sommersoft and cant see any other solutions.

Sounds like a bargain.Problem is it is a BYO mummy.

When you consider that the average 36 months fixed rate is around 125-150bps above the variable rate.This means you need to see 6 x 25bps increases just to meet the fixed rate level. You actually need 12 x 25bps increases to break even. That is 6 below and 6 above.Need to ask yourself are we going to see 12 interest rate increases over the next 36…[Read more]

Hi SueheRather than make a withdrawal from the fund why dont you look at merely buying the property in the name of your Suepranuation Fund (I am assuming it is a Self Managed Fund) paying cash for it and getting your daughter to rent it from you at a Commercial rent.If you wanted your daughter to take ownership of the property you could always buy…[Read more]

Thanks Hydra for the kinds words.We try to assist where possible

Hi MimiWith the equity you have you can purchase multiple properties subject to serviceability and do this immediately.Depending on how many you buy they would all be under an 80% lend.All you would do is use the line of credit to fund the deposit and costs again and take out a separate standalone loan on the investment property you are buying.If…[Read more]