Deductibility depends on what the funds borrowed are used for.You want to borrow money to use as a deposit on any owner occupied property. So the interest on this portion won't be deductible.I also doubt you would be able to increase your loan to 95% because of the credit tightening.

Your IP must be on low rent for it to be neg geared – maybe that is after tax depreciation is taken into account.I would suggest you make both loans IO with a 100% offset on your home loan.Also talk to your tax advisor as you can set it up to increase your deductions and pay off your home sooner (or into the offset). You could also buy another IP…[Read more]

verbal agreements can be withdrawn.

It is also a good idea for the trustee to lodge a caveat on title too so help id the property as trust property

There is actually a huge different between buying in your own name and your name as trustee – it is just not reflected in the title deed. So if you did a search on someone you would not know if they held the property as trustee initially.If the trustee were to change the new trustee's name must replace the old one on all legal documents and titles…[Read more]

Banks generally won't allow it. ANZ put an alert out many years ago threatening brokers with expulsion if they put thru such a loan.

Yes you can run 2 loan applications at once. you may be charged if you don't proceed though if the bank orders valuations and does the paper work etc, so check.You should also ask your solicitor about getting the extension.

try bankwest.

It is now very tough to get finance for this sort of thing. eg Just getting a LOC is hard as the lender will want proof of where you are going to use the funds. If you say you are not going to invest them, but to live off borrowed money they will not lend in most cases.A way around this is to borrow to buy shares which are high yielding and to…[Read more]

Why not approach Dan, he seems to know this stuff.

$30,000 profit less purchase costs and selling costs, and maybe holding costs, then divide this by 2 if over 12months.This will be the taxable gain which is added to your other income.The amount of tax payable wouldn't be very much at all.

With a trust it is the trustee who is the legal title. The trust is not a separate legal entity and its name cannot go on title. It is just the full name or names of the trustee.eg If your trust is the Smith Family Trust with Simthy Pty Ltd as trustee, then the title needs to be in the name of Smithy Pty Ltd.If the trust is Smith Family Trust and…[Read more]

Playing the ATMs is a good substitute to the pokies. The are the ' no arm bandits'  (as opposed to the one arm bandits!)'Jokes are getting lamer as i run out of material, sorry.

hi BradYes you would need the permission of the mortgagor to sell an option on their security.

Johnchristine are you aware that this is an australian site? 3 posts with 3 ads for your business

You should probably use a discretionary trust with a company as trustee – to reduce the risk if a tenant sues. This should be a separate trust and company to other business ones.You may also want to consider the tax concessions for small business assets

If you work in IT as a contractor you should already have an ABN and could use that as proof of employment for a low doc loan. But you may also qualify for normal loans if you can produce 2 years tax returns. Low Docs have some drawbacks such as LMI

The ABN is only to qualify as a low doc client and sole trader is enough. Tax is the same.

The longer the ABN the cheaper and better low doc loan. You will also have the employment option as well.

think you will find that spouses can transfer part of a property they own to the other partner without stamp duty if the place is the main residence. A trust probably wouldn't qualify.Getting finance  for a new house in a trust won't be a much different to getting finance in your own name.