Ralph Z wrote:
So, you are saying its the lender who makes the call not the broker? Is it possible to negotiate rates with banks if I've got good financial status? cheers

It is the lender's money and they are the ones that give the discount. Brokers can assist by knowing what the going discount rate is. Your financial status is not the main…[Read more]

This is a legal issue so you should speak to a lawyer.

If you want to change trustees it will be complex.
1. Review stamp duty rules for state of properties and
2. review deed to make sure trustee can be change and how, and if there will be stamp duty on the transfer of title. In NSW there could be if the trustee is a beneficiary.
3. Seek legal…[Read more]

Accountants often get it wrong.
But will the ATO be that strict? Maybe they will accept it was a mistake and consider it never happened.

You will need to get the lender's permission and cooperation.
Having such a high LVR will mean the mortgage insurer will be involved. What would the approx LVR after strata?

Before you start investing again you need some professional advice.
You will likely be a non resident for tax purpose and this will mean a whole new approach is needed. You also need to consider asset protection and tax strategies for your money.

You made a mistake because you didn't seek proper advice. Now you are going to make another mistake by seeing the incorrect people again.

YOu only need proof if you are asked to substantiate.

Also consider, electricity usage and connection in your name, photos, statutory declaration from you and others. phone records, emails, water usuage and connections, electoral roll,

princesshayleyk wrote:
Is it fairly Reader friendly Terry? I have a 1&2 year old so my brain is still a bit mushy!

  As reader friendly as it is possible.

rudra_r wrote:
Hi Terry,

Just looking at the TrustMagic book at the moment and noticed the pricing of it ($99 Hardcopy – prefer that to the PDF version), would like to know your thoughts on the book before I go out and buy it.

It is the best easy going intro into trusts I think.

Wrong set up. Or maybe better, a less than ideal set up. Your accountant is only half correct too.

Firstly it is not such a good idea to have people as trustees for a few reasons. One is asset protection. If the trustee is sued in their capacity as trustee than all their personal assets are at risk.

It is also not good to have 2 trustees for a…[Read more]

I think you are going about things wrong. This is a civil dispute and you will have to sue the company to get your money back. To do this you will have to spend money on legal fees, or give it a go yourself.

There is no one to 'report' them to and ACA wouldn't be interested. This sort of thing happens every day of the week.

Too late to consider asset protection once you have purchased a property and too late to implement tax saving strategies (largely).

Each person has to weigh up the costs v benefits I guess.

Jamie M wrote:

Terryw wrote:

DEVILZ wrote:
what if you redraw money from your PPOR to offset account and realise you made mistake and put them back in couple of weeks ??

still 100% tax deductible?

No.

It is similar to urinating into a bottle of milk and realising your mistake and withdrawing the urine.

lol – that deserves a click on…[Read more]

DEVILZ wrote:
what if you redraw money from your PPOR to offset account and realise you made mistake and put them back in couple of weeks ??

still 100% tax deductible?

No.

It is similar to urinating into a bottle of milk and realising your mistake and withdrawing the urine.

phill666 wrote:
Yes your right my wording is out of whack,

What im trying to say is can we use our super as some form of equity to borrow money from a lender?

No.

Indirectly, perhaps. There is a new product which allows a person to invest their super into a property trust. This person is then about to borrow money from an associated…[Read more]

best not to assume things, but to look at the agreement you entered into.

Was the spa working at the date you signed the contract? Any special conditions about the spa? What was the wording etc.

Have your solicitor answer these questions. If you have used a conveyancer or settlement agent they won't generally assist too much in this area as it…[Read more]

see https://www.propertyinvesting.com/forums/help-needed/4346720#comment-276980

phill666 wrote:
Hi guys, these days we can borrow money from lenders to invest against our superannuation.. d

I think your wording there is out of whack.

you cannot borrow to invest against superannuation. What you can do is set up a SMSF and the trustee can borrow to invest in property (or other single acquirable asset). ie you cannot…[Read more]

What about penalty interest for you Mick?

Realistically what can you do other than settle?

Keys are often an issue – many people don't have keys for various doors in their houses – they may never have locked the door with a key for example.