Some incorrect information in the answers above. Make sure you get proper legal advice before signing any contracts.

Although stamp duty may become payable at settlement or within 3 months you actually become liable for it on exchange of contracts.

Office of State Revenue would request you get a valuation done for stamp duty purposes. This should satisfy Centrelink too.

Just stumbled on a recent QLD legal case involving adverse possession.
Eckford & Ors v Stanbroke Pastoral Co Pty Ltd & Anor [2012] QSC 48
see summary here http://www.lawyerassist.com.au/2012/05/07/cases/eckford-ors-v-stanbroke-pastoral-co-pty-ltd-anor-2012-qsc-48/

Why do you want to find these properties?

Thats right, just employ a quantity surveyor.

Also note that you can keep your home CGT free for up to 6 years too.

Hi Tom

Yes, a percentage of the loan would be deductible but the problems arise when a person tries to pay down the non deductibe portion. If it is a mixed loan then any repayment to the loan will need to come off the deductible and non deductible parts in proportion to the loan mix. This is a mathematical nightmare and not tax effective as you…[Read more]

There is a place to put their income and it may affect your income tax by increasing your rebates if your spouse is on a low income,

leyashyash wrote:
Hi,

I have a PPOR valued at 350,000 on which I have a mortage of $200,000.I have been staying here for 4 years. I am looking at buying a investment property valued at $500000. I plan to rent this IP for 6 months and then move into this property and convert my current PPOR as Investment property.

Would this be a good plan?…[Read more]

Look at Nathan Birch.. He appears to be well on the way to doing what Steve done and is doing it now.

Tax returns are done separately but there is a little section regarding adding your spouse and her/his income.

Just think that you have to keep your cash for non deductible debt and borrow for any investment related expense – This will speed up your repayment of debt by increasing your tax deductions and decreasing your non deductible debt.

Every $1 you pay off the existing loan on PI means more tax later.

Yes, change PPOR to IO and get a 100% offset to save interest in the meantime

Keep in mind any extra funds won't be deductible and you should set up a seaparate split loan rather than end up with a mixed loan and the associated tax issues.

Tom is correct and it could result in the main loan becoming a mixed purpose loan which will also cause problems.

Just grab a law textbook on property. eg. Peter Butts Land Law – which has a whole chapter on adverse possession.

Look at trusts instead – with a company as trustee.

Companys have a few disadvantages. One is the 50% CGT reduction which is not available so the company will be paying a flat 30% CGT rate where as the individual (direct or via  a trust) will pay a max of 24% but probably much lower.

Another disadvantage is that the income of a company does not…[Read more]

CGT would be at market rates.

One tip is DONT use a company.

Why are you wanting to use a company?

ps. You could access equity in property you have purchased in your own name too.

jenny111 wrote:
What does 'to compell you to provide the details' and 'CYA  at all times' mean?, please.

Compel, as in legally required to do so.