Yes this will def affect the LVR. But exactly how will depend on what sort of property it is and where it is.

Thanks Derek

I will get some bells and whistles eventually.

I think you will find that you do pay it back in a sense because capital works deductions reduce the cost base meaning you will pay higher CGT.

Thanks guys. You can sign up by my website – beware it is very amaterish!

I am going to start up a newsletter soon covering 4 areas of interest – law, loans, financial planning and taxation.

songrad wrote:

Terryw wrote:
You could have structured things more tax effective. Are you living in the first home?

yes Terry, i am living in the first home. It is my PPOR.

Hi Songrad

So you put down 20% deposit and costs. Lets say $50,000.

If you used cash that means you had money which you could have paid into your home loan to…[Read more]

This is a defined benefits scheme probably

Many government jobs are similar

The Military Superannuation and Benefits Scheme (MSBS) was established by the Military Superannuation and Benefits Act 1991 (the MSB Act). The MSBS is a defined contribution/defined benefit scheme administered by…[Read more]

therock1 wrote:
Thanks Terry. Can you expand on that and provide some suggestions that would give me protection or is there really no such thing?

Yes, Celibacy!

You may think you can save the agents fee – which is 2-3% approx, but you can end up losing more if you market it at the wrong price and/or don't have the sales skills.

Whether you could get a loan or not would depend on the circumstances. Best to talk to a broker about that bit. It may be difficult if your spouse has just bought a house, but the projected rental income from your property will be included in serviceability.

Also you may want to hold off a bit and do it down the track.

And the original loan interest would generally be deductible – but only on the lowest loan balance. So if the loan reduced lower than $300,000 and you topped it off with redraw then the interest on this second part would not be deductible

Tom, no need for the " " as that is exactly what can happen in VIC. Sell to a spouse for full market value with no stamp duty!!

It is interesting because agents doesn't usually get paid their commission until settlement.

Freddie, how did you find this property and was it marketed this way from the start?

You could have structured things more tax effective. Are you living in the first home?

therock1 wrote:

However, as far as protecting these new assets i am after i as thinking of buying them thru a unit trust so the ex- cant come back and have another crack at me after a couple of yrs.

Any thoughts?

This will offer virtually no asset protection at all.

M.Investigator wrote:
I read that Mark Rolton is one of the most respected real estate educators in Australia. He is very empowering and has the same real estate understanding as the successful property moguls, Donald Trump and Robert Kiyosaki.  It will be interesting to come across this mentor.

Where did you read that???

possibly

JacM wrote:
  This is because if you personally get sued for something, then the SMSF assets are safe because they are owned by a different entity.  (Law suits are raised against an entity such as a person or a company).

This is not correct JacM,

If you as an individual are trustee of the SMSF and you get sued then the assets of the fund…[Read more]

Ah, give em a new deposit book to make it easier to pay the rent!

Your lawyer is not really correct. They can accept offers and there is no requirement for going to auction, but an auction is a good indiciation that it went for market value.