Multiple trusts won't help you get more finance. Keep reading the forums and everything you can.

At death CGT is generally disregarded, s 128-10 ITAA.You, the beneficiary, will pay CGT when you sell with the cost base being the value that would have been the cost base to the deceased if the deased had disposed of the assets at the date of death, ss109-55 and 128-15 ITAA.What this means is, i thnk, you will stand in the shoes of the deceased…[Read more]

The banks don't usually value but they send the work out to valuers. They use different valuers for different areas, so you cannot generalise.Ask them for a copy of the valuation and see what comparable sales have been used, and see if you can find higher comparables to justify your value. Next time the valuer comes give him a list of comparable…[Read more]

I just bought a block in a new sub-division in Tassie for $55k, so it can't be too much!

Depends.From 1 day to 3 months generally. The less you borrow the easier it is and if it is in the same industry all the better. – Also not on probation.

I have a couple of Nigerian friends who will forward you $12billion too, they just need a few thousand for a few days for the bribe of bank officials in transfering the money.

Thats a good way of doing it I think. Have you read the deed and made sure you are complying with the rules of the trust.Naming beneficiaries can mean some banks will require a guarantee from all adult named beneficiaries – ie there is not choice, which ideally you don't want. You will also have to change the bank accounts.ANd you should check…[Read more]

Yes it is possible to rent from your own trustSee PBR 83291http://www.ato.gov.au/rba/content.asp?doc=/RBA/Content/83291.htmTR2002/18http://law.ato.gov.au/atolaw/view.htm?docid=TXR/TR200218/NAT/ATO/00001

Hi AdamSounds like you need some professional help.Having 2 directors of a company is not a good idea.Working as a director of someone else's company is also a very dangerous proposition. If you have any assets now you should take measures to protect them thoroughly. Watch out for personal guarantees, when applying for credit they often ask the…[Read more]

Look at the stuff  from the ATO above

How do you know it wasn't paid?You are buying an item. This is normally GST inclusive. Whether the seller is doing their bit is up to them, not you.

Yep i think that as long as you are trying to rent then you should be able to start claiming, but you had better check with your accountant first.

The other major drawback with CC is not being able to sell one property when the remaining one has dropped in value – which happened to a friend of mine and resulted in bankruptcy.

Qlds007 wrote:
5 years or the length of the loan if this is a shorter period i think i am right in saying Dan ?

Thats for borrowing costs Richard. Monthly bank fees and yearly package fees etc can be claimed out right.

samson wrote:
Thanks Terry.The IP which we sold was cross-collateralised with our PPOR.  SO when we release the IP, the bank did a valuation on our PPOR.  It came back at $500K.Originally we had a limit of $445K attached to this IP & PPOR.  The bank said their new DSR is now 69.17%, so we had to reduce our loan limit to $345K. 

Damn, if only…[Read more]

You cannot just reborrow the money from the redraw and have the interest deductible. If it is an investment then redrawing the money will complicate things – the interest on the new borrowings of $9,000 will only be deductible if the $9,000 was used for investment purposes.If it is an owner occupied house it won't really matter and you may as well…[Read more]

I think you should set up another 100% offset account attached to one of the remaining investment properties and park it there for the meantime. You may need this account long term anyway as your PPOR will essentially be paid off.If you will be down to one wage, then it may work out better to park it into a high interest account in the name of the…[Read more]

10% GST is payable on most things – on exception is second hand residential property. If it is new property, such as a new house and land then 10% of the sale price goes to the Govt. But, if you register for GST then you can claim the GST that you have paid on the construction materials etc. So it is not that bad, but still hurts.With renovations…[Read more]

You certainly can claim a cash payment.I assume you also mean there is no invoice. I would still claim it. write down diary notes of as much as you can about the transaction, things you would have received on the invoice. Claim it and argue it if audited.If the other company wants to avoid tax it is up to them and they may get into trouble if…[Read more]

You can never paid all the interest!