Structuring like this is legal advice so you will need a lawyer. They would need to consider the child support legislation – which I have never looked at, but I would imagine there would be provisions in there to count the income of trusts and companies which you control, even if not named as controlling.

 

One way to structure it might be to…[Read more]

Structuring like this is legal advice so you will need a lawyer. They would need to consider the child support legislation – which I have never looked at, but I would imagine there would be provisions in there to count the income of trusts and companies which you control, even if not named as controlling.

 

One way to structure it might be to…[Read more]

The legislation still has an example involving someone moving overseas

i haven’t examined the recent changes. But I think the 6 year rule might still be able to be used if the property is sold when the taxpayer is a resident again.

 

seek tax advice.

Got an offset account to save into instead of paying extra off the loan?

You might need to go fulltime if you want to borrow further.

Depends on the wording in the lease.

First thing to do is to look at the land tax act and the definition of principal residence and see if you have a choice. You probably don’t. It will be a question of fact, not the ability to select. See if there is a definition – which will probably be the one which is the ‘main’ place with all of your belongings.

If there is a choice possible,…[Read more]

Have a read of your loan agreement and see if you have contracted to inform them.
Even if you have the penalty for breaching this would likely amount to nothing.

Everyone would pay tax! (Restaurants would go out of business)

Actually not everyone – some will barter. Bartering might even make a bit of a come back.

Yesterday or the day before CBA network was down, but all you would have to do, as a consumer, is to use another card from another bank. It would be harder for shops and those taking money though.

I think many would be interested. It is not just the cost of LMI that stops people, but the LMI company rejecting the loan for a variety of reasons.

You would need specific legal advice, as what is suitable for one person may not be suitable for another. What works in QLD property may be too costly for NSW property for example. structuring loans will depend on who the legal ownership, serviceability, security value, other assets, interest rates etc.

If you have any specific questions ask…[Read more]

yes
why not

whats your question?

This won’t be welcome under residential lending.
Most lenders will not lend for more than 2 on title. Some will, but if they think you will be running a short term rental business they will not include potential rent.
You will need to consult a broker.

Will you be buying for $200k or $300k or $450k?
better speak to a lawyer too, especially if…[Read more]

You would need a written lease with an inspection report and incorporate this into the contract of sale

first get permission from the mortgagee – they won’t give it.
Then speak to your conveyancing lawyer about whether a contract is needed, enter contracts and sign transfer and settle.
Duty will be payable on the value transferred.

see https://www.propertyinvesting.com/topic/5055830-title/#post-5055833

any change in title will require a release of the mortgage. This means the loan will need to be paid out or a new loan applied for.

Stamp duty will apply on the value transferred, unless there is an exemption. none available for pensioners as far as I know but depending on the circumstances you might be able to argue a trust relationship.

Going…[Read more]

my wife just got a 0% interest loan… from a related trust.

You could be looking at less than 3.30% PI. it all depends.

good advice Beas