its likely the vendor will have to pay two lots of commission too

aan offset is a savings account  so if you have used money from an offset then there is no interest incurred. it is like using cash.but if u take money out of an offset the interest on the loan it is attached to will increase  so indirectly interest is incurred. if the loan is investment then it will result in savings. if the loan is not d…[Read more]

aan offset is a savings account  so if you have used money from an offset then there is no interest incurred. it is like using cash.but if u take money out of an offset the interest on the loan it is attached to will increase  so indirectly interest is incurred. if the loan is investment then it will result in savings. if the loan is not d…[Read more]

aarons idea about the caveat is a good idea too. it will speed up the resolution as they wont be able to settle

vendor is locked in – possibly to both contracts.what state is it in?

Android is the way to go now. I am ditching my apples because of the cumbersome need for itunes.

mcgrandles wrote:
not sure if this will help —- i was told that my son could only  borrow up to $70,000  for a home loan and he would qualify for the FHOG he would then become part owner of the property – told any other way can become a legal nightmare  

Would you mind rephrasing this????Are you saying someone recommended your son buy a pr…[Read more]

Possibly not without any income.

Yes, i agree Richard. In fact I said almost exactly the same thing in a PM exchange with V.The DST is still worth considering, but maybe down the track.

Don't think that is a good idea Hank – or even possible. Victoria's brother has a disability and is in need of a carer. If he has an intellectual disability then it wouldn't be possible for him to act as a director.A special disability trust would be much more advantageous because of the ability for the house to be owned by the trustee of the…[Read more]

Victoria – make sure what you read about SDTs was currently. I think the legislation only changed this year.

Richard, Do you think Victoria could borrow as a trustee for a SDT with her brother as beneficiary?As i type I am thinking and they may have a problem with no rental income, and other restrictions associated with the trust….?

CHris, i am not following totally.If you transfer ownership you are out of the picture. WHen you evenutally sell the partner will be up for any CGT and may not be able to claim an exemption for yourshare if he didn't live in that share and establish it as his main residence. He may also miss out on claming the exemption on the other share of the…[Read more]

Have you considered doing both?Buy a main residence, live in it briefly and then move back home and rent it out.Claim all associated costs and retain the CGT exempt status.

You will probably be exempt from land tax on the NSW one. You will need to look into the land tax requirements for ACT to see if you need to pay land tax and if there are any exemption provisions for absence from main residneces (assuming it was a main residence before). I don't know anything about ACT and land tax.

Yes, the land tax office needs to know. They have different criteria too.In NSW there is a 6 year exemption for absence from the main residence but it is much more complex than the income tax version. Very hard to qualify for too.

Partners – as in spouses – can only have one main residence between them.CGT is calculated at market values too so when you transferred your interest to him you would be up for CGT on amrket value at the time of the transfer – unless the exemption applied.

I have had a PM from Godhav re a separate matter and and I think he or she is legitimate.

Interesting Hank, I own a company with a similar name – The Loan Experts Pty Ltd.

Yes, you can only claim one place as your main residence at any one time. But the election is when you do the tax return after you have sold one. So you should work out which one to claim so that you save the most tax.