Hi FreedomFirstly Happy New Year and a welcome to the forum. I hope you enjoyr time here.With regards to your posting i would suggest that you look further a field than just Darwin.Certainly your Solicitor would need to be able to practise in the State in which you intend to purchase your IP's and this could vary with each acquisition.You…[Read more]

Dont want to disagree with anyone but it is the Transfer Document which is the accepted document the ATO take for deciding upon the share split where the property is held as TIC.Putting it on the Contract does nothing.

Hi Anthony1) As long as when you did the remortgage you kept the loans separate you would be ok however if not you will have a problem.2) Yes you can lodge a Transfer with the lenders consent purchasing the shares from your wife however stamp duty will still be payable and you will only be able to do this on the original loan as per 1) above.3)…[Read more]

Hi Anthony1) As long as when you did the remortgage you kept the loans separate you would be ok however if not you will have a problem.2) Yes you can lodge a Transfer with the lenders consent purchasing the shares from your wife however stamp duty will still be payable and you will only be able to do this on the original loan as per 1) above.3)…[Read more]

I am with Alistair i cannot believe it. Never sign up for anything without reviewing all of the other options.

Heh CarolynYou are supposed to be on holiday enjouying the NT weather.Off the computer and go get yourself a tan – lol.

Hi AnthonyWith all of the figures it is difficult to make a structured answer however just a couple of quick points:1) You mention that you have taken out some money to fund the land purchase. I am unsure how this may have been done i.e redraw, remortgage or separate loan but the interest on the land funds will not be tax deductible.2) I assume…[Read more]

Certainly do not pay down the principal on the mortgage on the Kalgoolie property if you are thinking of renting out the property in the near future and purchasing another PPOR.Also have you considered selling the Perth property into a Trust structure. Certainly you would incur stamp duty but dependant on the other figures could be still be vi…[Read more]

Hi ReneeshenFirstly Happy New Year and wlecome to the forum.To answer your question  CAN we still rent that property out to tenants if we are being financed by the vendor??  The answer is it depends on the Terms of the Installment Contract.Having done well over 200 wraps in Qld I can tell you our standard installment contract did not allow the p…[Read more]

Hi MooniOne thing i would say is make sure that your loans are structured correctly before you do anything else.Not being aware of the interest rates you are being charged on your personal debts (but i will assume they are typical nasty unsecured interest rates) you can always look at rolling these into your home loan or to transfer the debt to an…[Read more]

ohhh pushed the Post button too soon.Most Accountants disclose commissions and certainly here in Qld Real Estate agents are required to advise the buyer if they receive a referral fee. Not sure about other States.

ohhh pushed the Post button too soon.Most Accountants disclose commissions and certainly here in Qld Real Estate agents are required to advise the buyer if they receive a referral fee. Not sure about other States.

CuTotally agree with you on that point.Most

CuDisclosure of finance broking commission and in fact Financial Planning remuneration is required by legislation.I have never had an issue with it.

Pleasure mate. Happy New Year.

On a separate thread be careful not to offer more than 10% of the purchase price by way of deposit to make the deal sound more appealing to the Vendor.Doing this triggers problems if the settlement does not take place on the due date as the Vendor can consider the Contract an Installment Contract.

Hi 9ballIf you are wanting to stay in your current PPOR and wish to draw on the available equity then a LOC is the way to go.If you utilise the offset account and then use these funds for your deposit and acqusition costs then you are using your own funds and not the lenders thus reducing your tax deductible interest.

Hi ShaunYou can get in the queue behind me.PP you are right they are very good yields especially when you do the transaction in your SMSF so only pay 15% tax on the profit.They are out there it is just a matter of looking and looking.

Hi James Firstly Happy New Year to you and welcome to the forum.It is a question i get asked by clients all the time and there are several correct answers.In most cases clients prefer to still buy in joint names as the spouse likes to feel involved so we normally structure the Title as Tenants in Common with 99% of the shares being allocated to…[Read more]

I agree with Terry.If the asset purchased today is held for another 80 years I will let my kids worry about the legal issues because i doubt i will be here to get involved.