They will send you a letter before cancelling it and you can provide reasons why they shouldn't cancel.

Some that still do are ST George, Suncorp and Bankwest.

I would suggest you look at using a discretionary trust. I would personally only ever buy assets in a trust.Companys offer little asset protection at all for property ownership – only if the shares are owned by a discretionary trust. Where companies do offer protection is if you are running  a business and the business is sued = the company not…[Read more]

No, the interest will not be deductible because you are essentially paying cash for the property, not borrowing. The ATO works on the legal principle that interest on money borrowed to purchase income producing assets is deductible. What you could do is to deposit the money into your loan and then redraw it out to borrow – but even this is less…[Read more]

I have never renewed any of my ABNs and it has been more than 3 years. I did have one cancelled because it hadn't been used though.

I think things always cost more than estimated and it may also take twice as long to sell. Factor this in and add in LMI and legals on the purchase and the sale and there may not be much left. Not to mention time – how much could you have earned if working elsewhere during this period.

I just got a client 1% discount on $1.2million loan with a major bank.

keiko wrote:
Lisa J could you give abit more info on how this worksIf you have time on your hands then Terry's suggestion is a good one – move in for 6 months when you buy it then you have 6 years where you can rent it out and still claim your PPOR cap gains exemption.say ive got a ppor which i pay $100k and i live there for 6 months and move…[Read more]

A caveat really doesn't offer much protection. It is not like a mortgage. However it will stop further dealings with the property – so it cannot be mortgaged or sold while a caveat is in place. The caveat is notice to 'the world' that you have an interest in the property.Whether this interest is protected if the owner went bankrupt – I am not so…[Read more]

Yes there is a way to stop paying tax and that is to earn less than $15,000 pa

Probably your friend should have by-passed the agent and dealt with the vendor directly. They may have been able to get out of the contract with the agent because of a breach of the terms – could have saved some commission.

how long have you been casual and how much deposit do you have?

I would suggest you keep all money in the home loan and reborrow the $300,000 using a separate loan. This should be IO. Use this for the new purchase and the interest should be deductible. Keep paying the minimum on this loan and the other investment loan (should be IO too) and pour all exess money into your home loan until it is paid off.

HiThat one is the ID dated from 2001. I think the ATO is not bound to follow decisions in a ID, but you can rely on a TR.Here is the more recent TR 2004/4http://law.ato.gov.au/atolaw/view.htm?locid=%27TXR/TR20044/NAT/ATO%27&PiT=99991231235958Income tax: deductions for interest incurred prior to the commencement of, or following the cessation of,…[Read more]

nancy01 wrote:
Gdday all,I live in NSW, and I need to understand the legalities in regards to adding a spouse's name to a property title which has an existing mortgage.  Wasn't impressed when the lender responded that the only way to do it is through a refinance.  Now all I was interested in was adding a spouse's name on the property title b…[Read more]

I tried to do one like this with Westpac recently under a low doc. Bank said ok, and then the mortgage insurer knocked it back because of the 2 on 1 title.

Should be able to claim all costs i believe. Search on the ATO legal database for "steele" – a case on this area which lead to a TR by the ATO.

You should see a specialist solicitor. These documents would be copyright and you run the risk of having a old or bad contract if you buy one off the net. They also differ state to state.

or maybe the broker is promoting non bank lenders who don't offer offset accounts.

Read the TDhttp://law.ato.gov.au/atolaw/view.htm?docid=TXD/TD200827/NAT/ATO/00001The question asked is "Income tax: is the deductibility of compound interest determined according to the same principles as the deductibility of other interest?"With the answer being "yes".So if the original loan is deductible the compounding of interest should be…[Read more]