Terryw replied to the topic I want to ask about the tax on the sale of the house. in the forum Opinionated! 2 weeks, 4 days ago
They are statements not questions
1. No that is not correct
2. No that is not correct – loans have no bearing on CGT
It will depend on the circumstances, such as, if PI or IO, what the expenses are, how long left on the loan, type of property, type of tenancy, yield etc
Assuming PI residential rate with minimum expenses it would probably neither improve nor decrease serviceability
Terryw replied to the topic Is Sasha Hopkins & the A Team Property Group Legit? in the forum Heads Up! 6 months, 3 weeks ago
Didn’t a lot of investors recently lose large amounts of money by investing in companies related to this group?
Terryw replied to the topic Difference between being a guarantor to the loan and own the loan in the forum Help Needed! 6 months, 3 weeks ago
Steve, you have confused terms here or conflated ‘borrowers’ with ‘mortgagors’.
Mortgagor is the one who gives a mortgage
Borrower is the one who borrows the money
usually but not always they are the same
e.g husband owns the property and husband and wife go on the loan. Husband is the mortgagor and both are the borrowers.
You cannot be a…[Read more]
Terryw replied to the topic Difference between being a guarantor to the loan and own the loan in the forum Help Needed! 7 months ago
Why would a ‘bank’ be interested in reading a link to an article?
What are you trying to show them? And Why?
Terryw replied to the topic Upgrading our PPOR but wanting to keep and Rent it out in the forum Legal & Accounting 8 months ago
That can work out well in limited circumstances, but in these days of low interest rates the trust would soon make a profit on the property that it rents to you and that income would be taxable income where it otherwise wouldn’t had you bought in your own names. Also have to factor in land tax on trusts if buying in NSW and VIC, plus the estate…[Read more]
Yes, a potential conflict of interest. What if something pops up with the property and it is something the buyer’s agent should have picked up or that they caused will the settlement agent tell you or down play it?
You should use a lawyer, a solicitor, to protect yourself and to get some legal advice as well as transferring title.
beware as accountants cannot advise on land tax as it is state law and doing so would be providing legal advice for which they would not be covered by insurance. This is the case also when they set up trusts.
In WA a trustee of a discretionary trust could get a separate land tax threshold to land they hold beneficially (not as trustee).
Terryw replied to the topic Is a hybrid trust using a company as trustee/beneficiary best overall structure? in the forum Legal & Accounting 8 months, 3 weeks ago
That will depend on the circumstances such as where the land is located and alternatives. There could be less land tax with using a trust to hold property, the same or more.
That is true, there are many advantages with cheaper properties, others include being able to sell and minimise CGT as you can sell one property per year and spread the gain.
I think the name of the game is to make as much money as you can rather than make a job. Expensive ones might have low yields bu they can result in more money. One of my…[Read more]
You have to consider whether such a property is a good investment. Just because it is high yield it doesn’t mean it is good.
It will still tie up serviceability and equity and you could be investing in something else with higher returns – there is an opportunity cost.
Regional areas do seem to be growing though so there may be some capital…[Read more]
Terryw replied to the topic Wondering if you can get a home loan with a bad credit score? in the forum Commercial Property 9 months ago
Yes its possible
Terryw replied to the topic How to use company business income to buy property in another company/Trust? in the forum Help Needed! 10 months, 1 week ago
This is not true.
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