Disgree i would suggest IO for both.What starts off as a PPOR may one day be a IP and the only interest that is deductible is the interest on the outdtanding balance. You are unable to refinance, redraw or claim a tax deduction against the funds borrowed against the old PPOR so IO with a 100% offset account gives you the flexibility you need now…[Read more]

billA Company & Trust structure should only take 24 / 48 hours to establish and needs to set up prior to you entering into a purchase contract in Qld.You are unable to sign the Contract "An or nominee" without running the risk of being caught for double stamp duty so need to be careful.With regards to the Finance, if you are party to the title…[Read more]

If you are referring to the Transfer Stamp Duty this is added to the Cost Base for when you sell the property however if you are enquiring about mortgage stamp duty (Only applicable in certain States) then this can be claimed and is considered a loan cost hence it is proportioned over a 5 year period or the term of the loan whichever is shorter.

If you are referring to the Transfer Stamp Duty this is added to the Cost Base for when you sell the property however if you are enquiring about mortgage stamp duty (Only applicable in certain States) then this can be claimed and is considered a loan cost hence it is proportioned over a 5 year period or the term of the loan whichever is shorter.

In Qld you cannot purchase a property using "An or nominee" and expect not to be hit with addition Stamp Duty.

if we put both our names on the contract, do you know if we are able to transfer the property into the name of our company at a later date without leaving ourselves liable to paying double stamp duty or other costs?No any Transfer will incur Stamp Duty and if the property was a originally an investment property you may also incur CGT.if title is…[Read more]

James & HRegretfully may have been the offer some months ago but now the CBA rate is considerably higher. 

James & HRegretfully may have been the offer some months ago but now the CBA rate is considerably higher. 

Yes it would attract both Stamp duty and possibly CGT but in saying this it may still be worth it.We regularly assist clients in transferring their property into a Trust structure where they have a limited amount of tax deductions and are looking at ways of paying down their non deductible PPOR debt.

debdenYes and a great opening post too. Good contribution to the forum im sure.

If you can email me the details I might be able to recommend some buyers.I have a considerable portfolio of wrap clients and still get enquiries from others wanting to buy throughout Qld.

Will stamp duty cannot be delayed in Qld.it is payable 30 days after the contract becomes unconditional subject to this date being prior to the settlement date.

Will stamp duty cannot be delayed in Qld.it is payable 30 days after the contract becomes unconditional subject to this date being prior to the settlement date.

Depending on the post code will determine how much you can borrow against the property.If you intend to eventually use it as an investment property make sure it is structured correctly so that the loan interest can be fully deductible when you move out.Obviously to claim the FHOG and SD concessions the property needs to be your PPOR so i am…[Read more]

Just make sure your mortgage broker is on the ball as many of the major lenders are dragging their heels these days when it comes to both approval and documentation.

What happens if 5 years down the track when you have paid off 100K of principal or so on your PPOR you decide to buy another PPOR and rent this one out.You need 100% + costs of the new purchase price but are shocked to realise that only the existing balance is deductible on your current home loan and that the new PPOR will have 106% borrowing of…[Read more]

Obviously dont place much faith in their existing Broker.My thoughts would be too consider selling the property into Trust borrow 100% of the loan amount and use the raised funds to totally discharge the non deductible home loan debt.

Most lenders who offer FC Loans will require you to be earning an income in something other than AUS $ to allow you to borrow in another currency.In saying this think long and hard about such a loan product as i have seen many borrowers in the UK come unstuck with FC loans in the 80's.

Mr PIn simple terms you would enter into an Option with the Seller which gives you the right but not the obligation to execute an contract down the track. For the priviledge you make a Option payment which is deducted from the end sales price.Assume you thought the property was worth $350K but you signed a Call Option and paid $5K to buy the…[Read more]

Oh seank you sinic you ………. could be a bargain you will never now.