Pre-approvals are really meaningless. Most brokers should be able to generate a pre-approval online in 10 mins. If the broker does not have access to the online system he will have to send in the docs and have them input by bank staff. St G is not providing any priority to doing pre-approvals at this time as they are too busy with the full…[Read more]

Any broker could set this up for you – usually without charge, but companies that call around, unsolicited, often want to charge a few thousand (+ they receive commission).

hi JosephI don't think so as that doesn't include depreciation. He would be crazy to claim part of his mortgage for the office as he would lose the CGT free status on his home (on that portion claimed) – which would end up costing much more than the few dollars saved in interest.

interesting question and answer

I have used various software over the years and nothing beats excel. You should be able to whip something up in excel. Maybe you would need 2 different tabs, one for the loan and one for the offset interest – treating it like a savings account – and then combine them,

PropertyPaul wrote:
Do you have to have an AFSL to work for yourself as a Financial Planner?

Well, you could work under a AFSL holder as an authorised representative without having the licence itself. You will still need to have the relevant qualifications which, i think, are PS146 or a diploma in Financial Services – which can be obtained in…[Read more]

Never believe a bank worker!

a value is only what a person is prepared to pay. You have paid $x for it, so it must be worth $x. If you do it up, or claim to have, or wait a while you may be able to get a higher valuation.

I did 6 of these many years ago and would not touch them again.The major risk is being locked into a option with the tenants benefiting more than you do. Don't allow long term options.Other risks include being taken to the residential tenancy tribunal and being forced to pay the rates yourself (maybe gotten around by building this into the price…[Read more]

It can be done with the unit trust, you can borrow to buy the units and personally claim the interest, but this leaves things very similar to buying in your own name anyway.

Use a quantity surveyor. They should be able to tell you the value of fixtures and fittings too which will give yo ueven more deductions.

I agree with the above (and your partner). Pay the PPOR down, reduce non-deductible debt and then reborrow the $60,000 to invest. Interest on $60,000 is about $3000 pa. That could save you up to around $1500 in tax per yearRegarding banks and whether they will lend you – your overall loan amounts will be the same either way! If you use it on an…[Read more]

Hi LukeYou have had some bad advice there.Bad on 2 accounts:1) loansIf your trust is going to be the owner of the property, then it is the trustee's name on title. ie Your company will be the legal owner. So to get the loan in your name would mean the bank would need to lend the money to a third party. This may have been achieveable with some…[Read more]

You will have to pay your share of the deal first before the bank will allow draw down of their funds.

HiYou can't claim the new house is an investment if you are living in it.If your old house is rented out, the interest on the loan used to purchase this house should be deductible. If you are living in the new place, then you won't be able to claim the interest on the extra bit used to purchase this as it is a private expense.If the old house has…[Read more]

L.A Aussie wrote:

Terryw wrote:

Rhys_Roberts wrote:
Off topic and an arguably offensive comment but I just can't help myself…If you are on a pension and can only afford a house worth 110K and only have 50k then…WHY DO YOU HAVE FIVE KIDS?????????????!!!!!!!!!!!!!!!!!

RhysAre you implying that anyone on a pension shoudn't have kids?

I…[Read more]

It is possible, but can be very difficult to do. You will need to make sure you can settle if you cannot sell. Stamp duty would also be payable by yourself and the new purchaser.

Thanks John. Good info.ING is one bank which wholesales their funds. Depending who you go with the interest rate can vary as can the broker's trailing commission.

The 6 year rule only applies to absences.A valuation would cost around $300 to $400 and valuers must be licenced. Best to ring and ask what lender panels they are on. If a major bank uses them = good.

I think……. It you give someone a power of attorney, that they can act as if they are you. So if you are a trustee, they can act in your place. If you are a director, they can act in your place here too.But, not 100% sure.