mj88 wrote:
can anyone give my advice on this: I have my DFT with Company as trustee , the trust was stamped in NSW and now I am in process of buying a IP in Darwin under  this trust, my question is: do I have to get the trust stamped in NT. or I can buy property anywhere without worrying about stamping again in each statethanks heap for…[Read more]

If you have a 100% offset account you can save interest by keeping money in this account. Each day your money is in there, the more you save. The idea is to use the credit card with an interest free period so that the money you would have used to pay for groceries etc stays in the account longer saving you interest. You then pay the credit card…[Read more]

depends on the size

Don't forget you may be able to claim loan fees on an investment property over 5 years, or the term of the loan if it is shorter than 5 years.

Hi DanThat may not be the ideal option either.Imagine if  you put the money into the offset, you would be saving interest on your home loan – which is good. But then you take the money out of your offset to buy an investment property. The interest on the home loan would go up – but you cannot claim this on your tax.A better way may be to park the…[Read more]

Hi DanIf you took out a loan and invested, then you are meant to repay that loan (from a tax POV) when that investment is sold. So you couldn't keep claiming the interest – an exception is if there was shortfall – eg. if the property was sold at a loss.

It is likely the bank will still class your wife as self employed. It wouldn't work with you on the loan either. If it is a non-related company that she works for it may work. If she has a different surname and is not an officer or shareholder of the company, it may still work too.

I agree. Do the figures and work out how much interest you will be saving and how long it will take to save that $18,000.The longer you leave it the less you save and the higher the fee will be – rates are dropping still.

That was this year, $30k for the land.

as a gudie, As long as you are employed part time or full time you should be able to borrow roughly 5 to 6 times your annual salary.

How can you do it yourself? It would be very hard to ascertain values and costs of all items and very time consuming. Then the ATO may challenge your figures – just pay for a report and save the hassle.

The LVRs are generally up to around 70% with rates much higher than residential, around 9 to 10%. I have never done one and don't want to because of the complexity – you would need a superannuation expert to guide you through it all. http://www.trustdeed.com.au has some good strategies regarding SMSFs.

You may be able to still get a Low Doc loan with a lender such as St George. It is unlikely that Westpac would have extended the loan so long without requesting further information such as new payslips etc. I had one recently which had almost expired at less than 3 months and they wanted all this again.

I think you are supposed to move into the property and actually live there as your main residence. So changing all addresses to that address, getting the connections in your name etc will help. One of my clients got audited by the OSR and he had to supply a few documents to prove he had electricity connected in his name, phone, etc.But be careful…[Read more]

agent games, just wait a bit longer and they may come around.

A client of mine constructed a house on land for a total cost of $130,000 with the bank valuation coming in at $390,000 just a few months after completion.

Hi CCI can't see the point of CC really. If you can CC you can get away with no CCing and save yourself the hassle (more fees and valuations etc).The above example happened to a guy i know who purchased around 4 years ago. We can't always predict whether the market will rise or fall so it is best to prepare for the worst just in case.

JMF wrote:
so let me get this rightin 96 my mum bought a house but put my name on the deed.but because i have not lived in the residence since 99 i could get the FHOG?but my name is on the deed?but i can prove i have lived over seas since!hmmmmmwould be great to get another property or a property as my own (to live in when i am home), seen as…[Read more]

Low Doc loans are only used by those who cannot prove their income. Max LVR these days would be 80% or less.

NaeI have had different advice regarding this. You will need to enter into a written agreement with the person you will nominate to act on their behalf before you sign a contract. If you don't you can still nominate them, but will be charged stamp duty as if you settle and then onsell to them.