N

Since dad and mum own 50/50 dad would be buying mums share for 500k. Not the full million. Stamp duty would be on the transfer of the 500k transfer. Cgt may not apply if it was a main residence.

Reducing transfer amount means reducing loan which means less interest and less money freed up for the new ppor.

You will need a valuation for stamp duty purposes too

Yes.Sell all or part of property to spouse and have spouse borrow to purchased. If the property is in VIC then it could be done without stamp duty.

I should add that my balance on that 3.99% for the life of hte loan was $24k. I just paid it out because rates had dropped and I rang up to close the card. They offered to send me a cheque for $24k and give me 3.99% for the life of that repayment of the $24k. They are hoping you will be tempted to use the card for something else and then get on…[Read more]

Sorry, my mistakeYour biggest problem would be getting credit cards with that large a limit. If you could do it then it may work. You would then refinance the cards with another lender. I did this once with one bank, got a $20k cash avdance and then transferred the balance to another lender for 3.99% for the life of hte loan. This was when…[Read more]

You will find anything except a cash advance is a transaction that qualifies for the interest free period. You could buy a car or a house on credit card (one of my clients had $250,000 in credit cards!) but when you buy the merchant will charge you a fee of around 1%. So on a $200,000 house the fee would be $20k which would defeat the saving of interest.

No leads from my aggregator either.You will find most of the leads you could get from a franchise would be a waste of time too. You will need to concentrate on your own leads and separate the tyre kickers from the real ones.

Just remember the more money you chip into the purchase on an investment the less you will have for private purchases. This means you will have to borrow more to purchase your PPOR down the track. More non-deductible interest.

Sounds good, but I think you will find it will be very hard to get it revalued at much higher than you paid for it. For the short term any way.

In that case, then since the first property and the second property will become an IP it doesn't really matter which way you go. You would take the money from the offset or from the paying in and redraw.Is there any chance one will become a main residence at some stage? If so you may want to aim at reducing this loan and maximising the other.

DavidSounds crazy. You would be giving too much away for little return. My aggregator provides all those services too – for free mostly

Ideally1. no2 no3 noBorrow the deposit if you have the equity.

New drawings = new borrowings so if you borrow for investment the interest should be deductible.

You could possibly avoid CGT depending on the circumstances

That was the trust. The trustee is a separate issue. The trustee can be a person or a company (or combo). A company needs to be registered with ASIC as Luke mentioned.There used to be an advantage to register a company in VIC. This involved stamp duty savings.For the trusts some promotors reckon setting up in South Aust is the best because this is…[Read more]

Trusts are usually set by by a settlor giving a trustee $10 or so and asking them to hold it on trust for a group of beneficiaries. The terms of the trust are documented in a deed and this deed governs the actions of the trustee and specifies what they can and cannot do – such as borrow money, mortgage trust property, invest in businesses etcThe…[Read more]

JT83 wrote:
Evening all,  For all-I can confirm (through my discussions with my accountant) that in a situation we described above – where you move out of your PPOR and the rent another home you will not pay CGT if you sell it for a 6 year period after vacting it. The ATO still considers it to be your PPOR for that 6 years provided you do not…[Read more]

I believe that trustees do get a separate land tax threshold in qld but am not sure on the details. In Nsw a discretionary trust gets no threshold so using a trust may result in more land tax there.

Trust assets don’t belong to you. So they don’t form part of your will. You need extra planning on succession with a trust when you die but there…[Read more]

I suppose market rates would have been paid for the 'business' – whatever this was.The liquidator will probably do little investigation without the creditors funding it. Investigations cost money which means less money for creditors.

You haven't given enough information to make an informed assessment.But, think long term. Consider all issues, such as land tax, income tax, CGT, death, asset protection etc.