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Smoo

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    Smoo replied to the topic Turning PPOR into IP…tax question in the forum Help Needed! 10 years, 5 months ago

    Yep. Our PPOR is in both names.

    The IP’s are in mine only.

  • Profile picture of Smoo

    Smoo replied to the topic Turning PPOR into IP…tax question in the forum Help Needed! 10 years, 5 months ago

    Thanks Jamie and Terry

    I guess the only benefit of having the equity from our current property used for a deposit would be that it would be an interest only loan.

    It’s a tricky one…we were initially thinking of selling our PPOR (in sydney) to buy our new PPOR (also in Sydney). The benefit of this is obviously no CGT and a healthy deposit for…[Read more]

  • Profile picture of Smoo

    Smoo replied to the topic Turning PPOR into IP…tax question in the forum Help Needed! 10 years, 5 months ago

    Thanks Jamie and Terry

    I guess the only benefit of having the equity from our current property used for a deposit would be that it would be an interest only loan.

    It’s a tricky one…we were initially thinking of selling our PPOR (in sydney) to buy our new PPOR (also in Sydney). The benefit of this is obviously no CGT and a healthy deposit for…[Read more]

  • Profile picture of Smoo

    Smoo replied to the topic Turning PPOR into IP…tax question in the forum Help Needed! 10 years, 5 months ago

    Thanks Jamie!

    I guess the only benefit of having the equity from our current property used for a deposit would be that it would be an interest only loan.

    It’s a tricky one…we were initially thinking of selling our PPOR (in sydney) to buy our new PPOR (also in Sydney). The benefit of this is obviously no CGT and a healthy deposit for our new…[Read more]

  • Profile picture of Smoo

    Smoo started the topic Turning PPOR into IP…tax question in the forum Help Needed! 10 years, 5 months ago

    Hi All,

    I hoping some of you switched on property gurus can help me.

    If a PPOR is turned into an IP, I am aware you can’t simply draw equity from the property to use to purchase a new PPOR and claim that equity as a tax deduction.

    But I am wondering in which scenarios the use of equity could be claimed as a tax deduction? I will be seeking…[Read more]

  • Profile picture of Smoo

    Smoo became a registered member 10 years, 5 months ago

Smoo

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