I think that article is regarding those who have owned properties and never claimed the depreciation. If they get one done now the can amend tax returns up to 4 years ago to claim the depreciation they missed out on.

oh, sorry, don't know much, actually anything, about that.

Interest in advance are the ones where you pay 1 year's full interest upfront, it is a fixed rate. For the normal loans, whether variable or fixed, (ie the ones where you pay interest each month) the rate would be the same for PI or IO.

Without checking too closely i think if you purchase an option on a property for $1 then you would pay stamp duty on the amount of $1 – there is probably a minimum nominal sum.If you then onsold the option you would have  capital gain of selling price less purchase price less costs. So on your example $499,999 capital gain. You wouldn't get the…[Read more]

Benjamin,I like no. 11 – stop taking their calls!!!!

number 8 wrote:
You can purchase this with a bare trust, your name will not be in public record. Any good accountant will organise this for you.http://www.birchcorp.com.au

This may make borrowing complicated!What about a discretionary trust with a corporate trustee. It is unlikely she will do an ASIC check.

Yes, i believe GST is applicable to commercial. Don't forget you you might be able to claim it on a purchase.

I agree. Wouldn't even consider the mortgage managers because of the fact that all of their loans are mortgage insured.

It will be hard to sell the idea of an option to a vendor because they will not probably understand it and they really won't get much out of the deal other than the option fee. You could increase your option fee and remind them that they get to keep this even if the option lapses and nothing further happens.

Hey, that was a joke too BTW. Poor people benefit by being the recipients of the donations.NSL, what are you thinking about when you ask the question? are you thinking of setting up a charity?

BB8I think you might be misreading, or maybe looking at interest in advance??I just looked at the NAB site, http://nab.com.au/wps/wcm/connect/nab/nab/home/personal_finance/6/1?urid=1279600610434, and didn't see anything like you mentioned.

NHGI think you have considered most things, but perhaps the most important is how to structure the  group so that you do not waste all your borrowing capacity. Imagine if the bank requires personal guarantees from all members – each person will be responsible for the whole loan. So applying for future loans will mean that the whole debt of the…[Read more]

bb8 wrote:
the other question is, given IO loans attract higher interest rates, is there any benefit in keeping the 1st loan on the existing personal property that's rented out as P+I?  Am I allowed to just tax deduct the interest portion?  the reason I ask is that down the track, we intend to keep the home and will have to move back after few y…[Read more]

By increasing the loan you will be reborrowing money. What the money is used for will determine deductibility. If it isn't being used for investment purposes then no deductibility. 

Ryan273 wrote:

Terryw wrote:
Well one partner is just buying out the second. So it will be just the same as buying a another property – you need to apply for the loan, bank assesses the applicant, does the valuation, gives the approval and then the solicitor changes the title. The only difference is negotiations between buyer and seller should…[Read more]

Sarah, you should read the full case.see s32Qhttp://www.austlii.edu.au/au/legis/vic/consol_act/da200093/s32q.html32Q. How duty is charged on transfer(1) Duty on a transfer to which this Division applies is not charged inrespect of the transfer from the vendor to the transferee, but is chargedseparately and distinctly on- (a) the dutiable value…[Read more]

bb8I would suggest you still see an tax advisor about structuring your business. It may be possible to set yourself up to get around the PSI rules. There are many medical practitioners doing this. You may be able to squeeze a service trust in there somewhere. The trust can provide administrative services for your business or maybe hold equipment…[Read more]

hi No. 8. I thought I would get a response out of you. But also I was interested to know if people would be willing to pay upfront fees once commissions are abolished.

Yes, there are various rules to look at. especially the alienation of personal services income rule. Under some circumstances the ATO can deem income earned by a company or trust is actually the income of the person who does the work. Whether you can get around this will depend on your circumstances.It doesn't really matter who is behind the trust…[Read more]

SarahLook at a recent Vic case Drouin Commercial Pty Ltd v Commissioner of State Revenue  [2009] VCAT 1082http://www.austlii.edu.au/au/cases/vic/VCAT/2009/1082.html see the summary of it herehttp://www.blakedawson.com/Templates/Publications/x_publication_content_page.aspx?id=56135That may give you some clues (I haven't read it)