Looks like you are getting around $225 per week. Repayments would be $193 pw. Allow say 20% for costs = $231 pw in costs.Now factor in non cash deductions – depreciation of fittings, depreciation of building, loan costs, travel costs and you will probably be making a loss and saving some tax as well.So your property probably is cashflow positive…[Read more]

Centrelink has been onto trusts for a number of years. They treat trust assets as your own if you are control a trust, are appointor, trustee or beneficiary.So you must be careful. Maybe a child or grandchild could set up a trust which excludes the grandparents as beneficiaries and the grand parents could rent the place from the trust – and maybe…[Read more]

I did an asic search and couldn't find that company at all. It could be a business name with the company being another, such as xxx pty ltd trading a zzzz.Who is listed as the other party on the guarantee deed?

Other than the above post, i think it is generally too costly to transfer properties like that – CGT/legals/loan fees and stamp duty will be involved. But as Scott suggest just work out the costs and see how long it will take to recoup them.Also consider the land tax rules can change and what is good today may not be good next year.

seasongreen wrote:
My friend advise me to move into property A, thus the property A (still under my FT) will be PPOR, no duty and CGT would be involved. BUT currently I have no plan to move out from my partner's house.

 Best advice is to not take advice from friends without confirming it. If a property is owned by a trust you will not get the…[Read more]

Without all the  facts it is hard to say. but it looks like you have given two or more properties for security for 1 loan. You are now trying to release one of the securities. The bank doesn't have to release the security unless you meet their criteria such as LVR. So what is probably happening is your LVR on the remaining property is too high…[Read more]

Wow, thanks for telling us that.

Someone is as there was a legal case mentioned somewhere here a few months ago. Wonder how it went.

Also forgot – probably now is not a good time to sell if the area your property is in is down. maybe wait a bit?

Also consider a part time job – maybe until you get the next loan.

It can be a good idea to sell sometimes if you can pay down private debt. But the ideal is to repurchase another property to replace it.Just think if you sold, how much would the CGT be? If a $120,000 gain, then this figure would have stamp duty and other buying/selling costs taken off . say $15k. gain is now $105,000. You could then get the 50%…[Read more]

The CBA has you over a barrell!

I don't think it is a good time to get into broking. Commissions have been cut dramatically. trails are been more than halved. In the good old days some brokers earned more than heart sugeons.However, there are not many industries in which you can build a trail income and if you can get the clients it is probably not a bad 'job'. If there is going…[Read more]

Hi PosYes, understandable. But if the company is still trading you should report them to dept of fair trading. You can see the status of the company at http://www.asic.gov.au (ie if it is liquidation etc)

if you are in Sydney I would recomend the 2nd Hand bookshop in UTS.

i would maybe hold off a bit as there is new legislation coming in around No this year. Mortgage brokers will be regulated by ASIC. When this happens all the requirements will change. it is very confusing at the moment and I don't know what you need since I have been a broker before all this came into effect.

Hi WMFHaving lived in 2 previously is ideal, you could rent one out for up to 6 years without CGT implications. You can even chose which one to count (only get one main residence per couple) – chose the one with the biggest gain!

Pos,You should also realise that a company is legally a separate entity. Even if he owns 100% of the shares and is a director it is different. So if the company gives the guarantee and goes under the person behind the company is not personally liable unless they have personally provided guarantees. (the directors, even shadow directors, can be…[Read more]

Yes, i am thining why sell too. If you think there will be capital growth in the future and they are cashflow positive too.But I would change over to IO as soon as possible. And, have you ever lived in one? If no, maybe consider it, depending on your circumstances though. You can move out and then count the place as your main residence and then…[Read more]

There are plenty of these sorts of books around. One by taxpayers Australia (I think) is good and much cheaper. Check out your local library too – may be a few years old, but still pretty much the same. Also check out the second hand uni bookstores as you can pick up old editions cheap or even free.