Break costs are fees associated with coming off a  fixed rate. Totally separate to any exit fee. They would apply if you broke the fixed rate and stayed with the bank for example.Michael, aren't  you one of the refund brokers that was posting on here a few years ago? "The Mortgage Detective" then wasn't it?

ATO ID 2003/324 Income Tax Deductions: rental property expenses: property investment seminarhttp://law.ato.gov.au/atolaw/view.htm?docid=AID/AID2003324/00001

If you are absent from your main residence then you may be able to claim the exemption still (in some cases), but not if you are living in the property at the same time as renting rooms.

"Gidday" Richard!

ING have a REF fee on some products instead of LMI. cheaper.

Well, if you are renting out a room of the main residence you will lose the CGT exemption status for that portion of the house – for the period it is rented out.

Watch out for the CGT implications.

With water you are borrowing to pay something that you will be reimbursed for. This is different to rental income.

Dubstep wrote:
  Hi Kristin,Where is this one ?

Carlton?

wisepearl wrote:
Jamie – in the above situation, given the original loan account was for investment property and provided the new purchase is also for IP, can one safely assume that the income payments required to keep the loan alive can therefore be tax deductible as they are borrowing costs for investment purposes?

OR do they lose their tax…[Read more]

Hi Rusty

When you say ‘the farm” what entity are you referring to?

A trust can make loans to beneficiaries depending on the terms of the deed. It can also make payments of capital tax free to beneficiaries, but to do so it will need capital to make the payment with. If the trust is borrowing $30k to invest then you will probably be envisaging it…[Read more]

Thank you wisepearl.

A caveat is not a form of security, but just is notice that someone else has an interest in the property. I am not sure how a trust could have an interest in the property that you as an individual would buy, but maybe the trust provides the deposit money and thereby has an interest.

Not knowing the full details, but this…[Read more]

Hi

What was the method suggested? I can tell you why it won’t work – probably.

Yes, there are so many people out there who are worse off because they don’t know certain things.

For example there are people out there paying more tax than they should be, missing out on allowances, missing out on centrelink benefits etc because they just don’t know. Others are paying more interest on home loans when they could be getting a…[Read more]

hi P

One of my friends was trying to sell her uni lodge unit about 12 years ago for around $120k. Not much capital growth.

But, I hear they are very small in size so hard then the normal small units to finance. You may need at least a 40% deposit if you can finance at all.

Send them a demand for payment and threaten legal action. Give them say 7 days to pay

Then start court action by issuing a statement of claim in the local court. You could do it yourself without a lawyer. Just doing this will make them get a move on and pay you.

Not only is he breaking the law he is exposing himself to being liable to compensate anyone who suffers a loss because of his advice.

igreen wrote:
Another option if you have more than one property both with 50%, then Borrow upto 80% from property B and put it into Property A. Then sell property A and put all the money in your PPOR.

That won't help because there would be a loan from property B which would need to be paid back when A is sold.

Watch out for aggregation of stamp duty – prob assessed for stamp duty purposes as if it is one purchase even if you have separate contracts for each unit.

The yield is irrelevant to the agent. What you want to be paying is market rates or slightly under for giving him multiple properties.I think 8% is pretty standard for NSW so you are getting slightly under. If the rent is $300 pw and you get a 1% reduction  that is going to save you only $3 per week. Why not work with the agent and work out ways…[Read more]