Do you understand, from a tax POV,  you can't simply redraw the $50k and make your loan $100,000 with the $50k in the offset

Does this include the 60% Low Doc? Do you know the story with NAB atm?

You have created a new piece of land so GST would be applicable when you first sell it. It is the buyer that pays it to you and you remit it to the ATO.

mplacidi wrote:
Hello guys, I'm having the same problem my apartment cbd Melbourne has been evaluate 340k just last week, in 2007 it was evaluate 380k (very funny it went backwards), the apartment next door has been sold for 540k last week. so i tried to show the bank all the evidences ( about 10 sold apartments in the same building in the last…[Read more]

Probably wants 9% or under with no app fees!

specialone wrote:
Congrats Terry on 10,000 posts (must admit the 'Bloody hell' bit made me laugh thanks) I am off to see another broker (wed) after what has been said on this post thanks.  Terry you mentioned paying of my personal debt with my 30k would there be a problem, with this if I intend to rent out my ppor in a couple of…[Read more]

Qlds007 wrote:
Reginald, i hate to say as a minor lender probably not going to find too many clients use them for their funding.In saying that probably the CEO of PMG will probably join tonight and tell me what a good outfit they are.CheersYours in Finance

But he wouldn't do so under his own name…….

If you deposit money from a loan into a savings account it is no longer borrowed money, so you may not be able to claim the interest at all. Also sounds like you are just increasing a loan which can be dangerous if you are mixing a home loan with an investment.For this reason I would suggest a LOC.

Think about the future – what happens if you want to access equity?

Just get a LOC on one of the existing properties and use this as deposit and borrow the rest from another bank. Best to use none of your cash

Generally, you should only pay down investment debt after you have paid off all personal debt. This is because personal debt is not deductible but investment debt is. So if you were to pay PI on an investment loan while you had a home loan then you would be throwing money away by decreasing tax deductions. The extra repayments on the IP would be…[Read more]

Be careful. Redraw is totally different from offset in terms of taxation. very dangerous to use a redraw without understanding.

andrew.os wrote:
Hmmm, sounds simple enough. However I have been told that if I take out a loan to buy ordinary units in the trust I can then claim the interest against net rent distributiions from the trust.   Given that the property is negatively geared I can then offset the loss against my own income. I have been told this will work with me…[Read more]

Ring em up or go into a branch and open an account.I would suggest you put the offset account on your PPOR loan if you have one. This will save you more money.

brenty705 wrote:
Hi I need some sersious help to get some information from tica and a agent i have emailed and called my old agent , they have not returned emails and they kept me on hold for 20 mins what can i do

Call again. or go there.

Yes, or try to get some income flowing into the trust to absorb losses and save you tax.

andrew.os wrote:
Thanks for that Terry, makes sense!So a workable (and legal?) solution would be to buy property in a trust, take out a loan in my name, then essentially lend the money to the trust and the trust pays me back exactly what my repayments are?  I then claim this on my own tax return, the trust carries the loss if it cant pay back…[Read more]

Just think of the trust as a separate person.1. If you buy a property and it is running at a loss how would you cover it? You would have to borrow more money or to use savings etc to cover the loss.2. If you borrow money for investment the interest would be deductible. same with the trust.If someone gifts money to someone else any interest on this…[Read more]

Buying a house is a capital expenses. If you buy a house in your own name you can't claim the cost of it outright – it is the same as a company or a trust. The house and fittings etc can be depreciated over a number of years though.Just think of the company as a person – as that is what it is under the corporations act. It can sue and be sued,…[Read more]

A LLC is a type of American company structure so you would have to set it up in America.You would need to comply with american corporations law re the transferring of money – remember a company is a separate legal entity so you can't just take its money as if it was your own. As long as you are doing it properly you would not want to transfer too…[Read more]