Sounds like that house may be in VIC.

If so you are in luck as one spouse can buy out the other spouse at full market value without stamp duty. Any interest on the new borrowings would generally be tax deductible and any cash released can go towards the new PPOR to reduce the non deductible debt.

amsaini15 wrote:
Apologises for hijacking this thread My Ques is similar to the one posted by stu82. I have a line of credit on my IP which is under joint name. My and wife's share in the IP is 99/1%. If I borrow from LOC to invest in Shares under her name, Will the interest on the loc be claimed in the same percentage (99/1) or My wife can…[Read more]

TheFinanceShop wrote:
Hi Stu,

So the PPOR is in your name and you are effectively borrowing the funds against your PPOR and providing this as a 'gift' if you will, to your wife who has the title on the IP in her name? If yes, then only the people who are the title are able to claim just the portion of the borrowed funds against the taxable…[Read more]

Your friend doesn't have a contract with the electricity company so they are unlikely be to liable for the tenants bills. I cannot think of any circumstances where they could be liable.

Privacy is a different matter. I am not sure of the answer but would request the ombudsman to provide the request in writing and to 'compell' you to provide the…[Read more]

Yes, look at the recent case of Shail where one joint trustee took off with the money and the other trustee was fined for it!

Multiple posts over multiple forums…..

forgot to add land tax to the list too

yes but many issues such as
fbt
cgt
stamp dut
asset protection
etc

not worth doing

hi zivin indonesia this is actually what happened to a mate of mine. his propertty was stolen by an ex girlfriemd and he has been trying for years to get it back  he has a supreme court order that says the property is his but still having trouble getting it tranfered to his name after 3 Years there was a mistress of the local police chief r…[Read more]

Oh dear!You have a potential mess – what if they can't complete and they have no assets? Suing them won't get you anywhere but more costs.What is a 'key undertaking'.Consider you may have to sue his workmen in the end too so find out about them if you can. September is still a long way off.But it will probably work out ok in the end.

You could try http://www.Mooreslegal.com.au

Going on title will create issues – CGT if it is not your main residence, guaranteeing or going on loan documents etc.What you could do is lend and have a written agreement drawn up which gives you a caveatable interest in the property. You could then place a caveat on the property which would prevent subsequence mortgages or sale whilst lodged.…[Read more]

The real estate institute of the state you wish to buy in.In NSW you can also get contracts from law stationers such as one in Phillips St Sydney, next to the Coop bookshop. Lawsociety website too maybe.They are copyright so you won't find any floating around, but you may find some out there for established properties.

Are you talking about your old PPOR? Could possible be done without CGT if one title and you move back into both sides. New duplex would be subject to CGT though.You need expert tax advice on this before proceeding.

Yes that is a naughty banker there suggesting that.I suggest you immediately stop dealing with them as they don't have your interests at heart.Sounds like you have plenty of equity too so absolutely no reason to consider it.

Yes, CGT and GST probably payable on duplex

propertyboy wrote:
But if I have recently moved out of my PPR and rented it out how will they know that if I don't tell them?

They probably won't know.

Inv 1 loan 165 valuation 240k = 69% LVR Inv 2 loan 161 valuation 210k = 77% LVR PPOR under construct land paid in full at $220k recent solids at 270k, house build 400k likely end loan $350k not sure what this sentence means, but if it is valued at 270 for land and 400 for build then =670k and if your loan is only $350k then LVR =52%So each loan…[Read more]

Please explain with numbers.

Using a property as security means you are giving the lender extra rights to take that property should default happen – surely you would want to minimise and/or delay this as much as possible.