That is not enough info to decideHow much CGT and selling costs will you be up for? How much stamp duty on the next one? Is your PPOR paid off?Do you realise you will be selling one property to buy another? that is what it boils down to

Yes, you may not have any CGT at all – if you are not claiming any other house as your main residence at the same time.

i agreeBankwest don't like trusts at all now. Unless you have an existing loan with them it may be impossible.ANZ will not allow trusts on the low doc etcBut if your trust has a person as trustee, then it would be ok.

Upfronts have dropped to around 0.50% max and many less than this. Trails have dropped much more. Some banks give nil in the first year and .2% second year on. Used to be 0.25 to 0.30% from day one. Clawbacks are also a killer. You may have to give back your commision if they discharge the loan within 18months.

Sorry Jaffa, I can't understand what you are saying.Adverse possession is when someone occupies land they don't own. If they have done this for a minimum period of time and certain conditions are met, they can then make a claim for ownership. In NSW i think the minimum period is 10 (or 12?) years.Maybe you are saying you placed a deposit on a…[Read more]

a house isn't sold until the contracts are exchanged.What ended up happening?

Is your own home paid off? if not a 100% offset account may be better.

I don't think the name is an issue unless it has been trade marked by Gerard or his company, (or anyone else)

The interest on the loan for the land and other costs should be able to be claimed against income if your intention was to rent or sell.

charlena wrote:
Hi  I am hoping someone can helpI purchased a property  in Queensland only 6 months ago and am selling it. Will I have to pay capital Gains on my profit? Rate?Also are the costs of my home improvements I have done plus the selling costs taken off this capital gains profit?I also own another investment property overseas that I wi…[Read more]

Most companies would be reliable. You just have to read the fine print! They don't pay out for what is not covered.

I have a mate (just 1 tho) who was earning high income. His wife earn't nil. I advised him to purchase his investment using a discretionary trust. He wanted to claim negative gearing so he bought in his own name.He sold the house 2 years later when it doubled in value. Made $200,000 CG. Unfortunately for him all this went on top of his income (or…[Read more]

Ring the agent and stop it. Talk to a lawyer and then decide what to do.

Thanks Eddie.Still, it is not a bad deal as you get to claim the asset or depreciate it and then can claim another 50% in year 1.

If you have not exchanged you can. Does the other party have your signed contract?

Hi MediaYou are the second person this week that I have seen confused by LOCS!A LOC is a loan in which you can deposit and withdraw funds up to a certain limit – thats it!The LOC will have a set limit. The limit is a monetary amount, not a percentage of the LVR. So the LVR won't increase as your property values increase. You will need to apply for…[Read more]

Now is not a good time to start out as a broker. Low and reducing commissions and clawback backs. Also new legislation will mean residential brokers will need to be licenced with ASIC from Dec – which is good, but may mean more courses etc adding to the start up cost.

Can be good as you can, maybe, negative gear and save tax. And you can still be able to keep your original home CGT free.

Think long term.What will happen when you sell 5 to 10 years later with a $500,000 capital gain?circumstances change, so best not to decide based on today's situation.Look at using a discretionary trust for maximum flexibility.

Don't worry too much. It is just a delay of 1 day. Penalty interest is around 10 to 15% pa – but you will only be charged, if at all, the day's interest. So if it is a $500,000 purchase, 10% is $50,000. divide this by 365 = $136. But also remember since your loan will be settling one day later you will be saving interest there too. eg. $400,000 at…[Read more]