Yep, set up a separate loan on your PPOR and use that as deposit and borrow 80% of the value of the new one.

SHouldn't be an issue as you are just borrowing from one loan to pay back another – essentially a mini refinace.

It means that someone has offered a price and it is being considered but the offer hasn't been accepted yet. You still have a chance.

One way around this is to buy in a trust with the guarantor a beneficiary – may not suit your circumstances tho.

You should be able to. Any fees related to the loan should be deductible. And any fees on the new loan too.

Taking money from a redraw is just reborrowing it. So deductibility will depend on what the withdrawn money is used for.Renting from a trust is not a good idea – usually.Firstly losses in a trust are trapped. So if the trust has no other income the losses just sit there.If it is making a profit then the trust must distribute this profit so you…[Read more]

A discretionary trust is one where the trustee can choose which beneficiaries to distribute the profit too, ie they have discretion. This is good for a number of reasons the main 2 being tax and asset protection. Tax can be minimised by distributing to the beneficiaries with the lowest income so the least tax is paid. Asset protection is gained…[Read more]

Sorry, spelling mistake. Givt = Govt = Government.

yes, some can, just make sure your accountant knows this area as not all do

Yes, it may, but what usually happens is the givt commissions these reviews and then ignores the findings. I beleive he is going to recommend abolishing stamp duty and instead increasing or changing the land tax system.

I think the big banks are bastards (!), but would rarely use anyone but one of the biggies. I would never use a mortgage manager, building societies are ok, though they can be inflexible because they are small.If a lender goes under then you shouldn't worry too much as you have their money, not the other way around. What will happen is that…[Read more]

hi RachieSounds like you are doing well. Since you intend to move out I would look at using a IO loan with a 100% offset account and keep the loan payments to a minimum. This will result in the same interest. If you pay all your cash into the loan it is trapped and you may need it later on. Using the offset avoids this.As for the renos work out…[Read more]

I agree with RIchard.Your rate is a bit high. Your loans should both be IO and also you may want to consider breaking that fixed loan. Having that means you have less cash to go into your offset account so you are paying more interest on the PPOR. You may also get a tax deduction on the break fees so it may be wise to work out what it will cost…[Read more]

I think suncorp allows up to 10. St G allows multiple, bankwest too.

Probably be best to borrow as much as possible as once you have the loan in place it cannot be increased to access equity.

Get a copy of all those free booklets from the ATO. Then get some basic tax books, liek Julia's mentioned above and then on to the more specialised stuff.Basically, Without increasing your expenses try to make then business related so that you can claim them.

Just think of the company as a person. Add up all your income and minus all of your expenses (the tax deductible ones anyway) and then minus other costs such as depreciation and that is your profit. This is then taxed at 30%.Capital gains are not income until they are realised. So you don't pay until you sell. Also companies do not get the 50%…[Read more]

If you use equity to help purchase, with no cash, then you will have a loan of 100% of 105% (including costs) of the purchase price. You would have a separate loan of this amount and would have to come up with the repayments – but having rental income will help.

zimby wrote:
lol a post 6 years later

what do you mean?

Whether you shoud invest in shares or not is something you need to work out yourself, but as a guideline do you think you can make more money in shares than interest you would save if you put it on your home loan?Having shares won't really help you get loans for a property, but shares are easily sold and you can come up with some cash quickly if…[Read more]