mcgrandles wrote:

Terryw wrote:
Yes, could be done but would be very costly and you would probably need a prospectus lodged with ASIC.Also many tax issues.

thanks for your help i have tried to sell my house for so long now with 2 sales fall through because of finance a friend suggested i split the house into shares what else can i do to i…[Read more]

I don't know if that is correct – claiming before renting.

A caveat is notice to everyone that someone else has an interest in the property. It may or may not prevent the dealing with that property – such as mortgaging it or changing names. However someone with a caveat could have their interest take priority over your interest.eg. in NSW there is a case Black v Garnot. I forgot who is who, but the seller…[Read more]

Sounds like you need a lawyer first. Many issues to consider

Yes, could be done but would be very costly and you would probably need a prospectus lodged with ASIC.Also many tax issues.

Is it possible for you to not use the LOC for personal expenses – possibly use the rental income to live on while borrowing to pay the interest?Also if the house isn't available fo rent yet then you may find the costs associated with getting it ready are not deductible. Speak to a tax advisor about putting it on the rental market first and see if…[Read more]

You should also consider the CGT exemption available for first moving in and then out again – the property can be exempt for up to 6 years while you are absent and you still get to claim all the usual expenses.

You should read the residental tenancy act in the state the property is in firstly.

mahnovetsky wrote:
Hi Guys My wife has an investment property in her name only. She will be stopping work for a while since we are having our first baby. Is there anyway I can claim negative gearing on her investment property? can I put her loan in my name? thanks Raf

You could buy it off her.

A mortgage wll take priority. Other debts won't generally, but if someone else has an equityable interest in the property and this interest is notified by caveat then they would likely have priority over your interest – which is just as a purchaser.So the person who lodged the caveat could get a judment and then an order to sell the property and…[Read more]

split your loan.If you use redraw then it will be one big loan. part of the interest will be deductible and part won'tSo you need to set up a new loan – split into different portions. Then the whole of the interest on the portion used for investment should be deductible.If you have one combined loan then every repayment will come off the one loan…[Read more]

DanielATO doesn't need jurisdiction to consider you have a main residence overseas. The Tax act says:s118-145(4) ITAA 1997"If you make the choice, you cannot treat any other * dwelling as your main residence while you apply this section…"http://www.austlii.edu.au/au/legis/cth/consol_act/itaa1997240/s118.145.htmlI had never considered it before,…[Read more]

Yes, the general rule of thumb is to pay down private debt and to borrow for investment.But, before you do pay it into the loan make sure you can demonstate serviceability – you should restructure the loan so you have a new split rather than just using redraw. The bank may want to reassess you again.

You should seek legal advice before hand. If you are prepared to wait and have your deposit tied up it may be worth it as most would be scared off and you may get it cheaply. But it could be more trouble than it is worth.What state is it in?

HiNo, I don't generally drink alcohol. Just a natural bad speller

You should seek tax advise as there are complex rules regarding continuing to claim deductions for a failed business.ps. Did you use the same entity for the business as the investment? very dangerous.

But the question is will another main residence overseas mean they are unable to class the place here as a main residence.

Any deposit or proceeds etc will be held in a trust account – either a solicitors or real estate agents. There are stringent rules regarding trust monies. So it would be very unlikely that a solicitor would take the money – but it does happen sometimes. All solicitors carry insurance, so if you do suffer a loss you can make a claim against the…[Read more]

It is probably because they will require you to get financial advice. But this wouldn't be independant financial advice if it is with a CBA planner.

Most major banks will go up to 70% LVR for SMSFs. Expect highish fees though.