hi Angel.$80,000 is huge!. I was stung the same way, but only for about $5k and I thought that was bad. I have never fixed a loan since.One of my friends had a fee of $160,000 to break his loans – and he paid it.Did you factor in the tax deductions? This could mean a huge deduction in the year of sale.

Well done RyanAnd don't forget to take into account the council rates, and any other expenses you incur – repairs too.I think it is a bit dangerous in accepting cheques these days, but hopefully it won't bounce! I would suggest IO loan too.

I would suggest you always avoid cross coll.It is possibly ok with just 2 properties – but only as long as things go well. If you have a problem and have to sell one property but the other has dropped in value, then the bank may be able to prevent you from selling unless you can pay down the remaining loan. This may not be possible or if possible…[Read more]

If you sell to a third party you would have more cash to put into the new PPOR which would result in more interest savings. But you would be up for stamp duty on the new replacecment property down the track.Selling to you wife would mean no stamp duty on the purchase of this half property.I would suggest you do the sums on both scenarios.

You have the right to ask anything.What does your written agreement with them say? ie do they charge a fixed amount or do they charge you per ad etc?

I prefer to take advice from the experts rather than some guy in a t-shirt crying on youtube. I therefore haven't listened to what he has to say.At this stage I don't see any need to evacuate Tokyo, let alone the whole country.Things are very normal here where I am in Kansai.I think there is a greater chance of mass exodus from Libya at the…

In Victoria a spouse can probably purchase the other spouses share of a property without paying stamp duty. Borrowing to buy this share should result in the interest on this borrowing to be deductible if the property is then rented out. So you will be freeing up cash which will result in a lower loan on the new PPOR and result in lower non…[Read more]

That is generally wrong.You can claim trips to inspect your existing rental properties to the extent that they are trips to inspect the property (not holiday) and to the extent necessary.

You have to get advice as there are various rules concerning the selling of assets. She may end up losing some of the pension if it is sold for example. But keeping it and renting it out may also result in the income making her go over the limit and result in a reduction of pension (I am really only guessing here). There are also CGT…[Read more]

Yes, this is not the case. A trustee can be a beneficiary, just not the only beneficiary.

Thanks for your concern.Things are extremely bad, i agree. But I am not sure how bad it is yet, or how bad it is going to get. Electricity has been reconnected to all the reactors, but there is still a heap of work to do with them. I think it will be months before they will be under control.The Internation Atomic Energy Agency is saying that there…[Read more]

I live in Osaka, Japan, and it is things as normal here.  In Eastern Japan there are problems, but only in a small area.There is some radiation being found in the areas immediately surrounding the nuclear power plants and some food stuff has been contaminated such as green leafy vegetables from farms in the area.I can't see mass evacuations…[Read more]

1. I think you will have to wait until the property is available for rent before claiming anything.2. You shouldn't have to prove you have moved out. You will be getting rental income and declaring it that should be enough.

Are you talking about Australia?A pty company can be used in all states.

Its probably not a scam, just an expensive scheme to capitalise interest on the investment loans while paying off the family home loan first. I would be concerned about:1. The high fee2. The fact that they are also selling property, or steering people into property sales3. The fact that the ATO could disallow the deductions on the capitalised…[Read more]

If you are renting the place then the rent will be classed as income. If you are just making them pay board then it is generally not classed as income. The definition of board seems to be roughly just charging for the expenses they incur by living there such as food and perhaps electricity. ie sharing the bills.

Tax deductibility will usually depend on the names on title, not on the loan.

If you were to move into the rental then out again it could become your main residence and be exempt from CGT from then on for up to 6 years.

PeCatsI would suggest you do some research before signing up to such a scheme.

Try http://www.trustmagic.com.au a book by an aust accountant. This is the best general intro out. There are heaps of legal books out there too.Another good one, but more advanced is the "trust structures guide" – very expensive though