HiI think you need some professional help – from a tax expert. Maybe try http://www.gatherumgoss.com in Melbourne.There are potentially many ways you could go such as:- sell one property per financial year, reducing tax- borrow the equity in retirement without selling- transferring ownership of your business to a discretionary trust- sell business, keep…[Read more]

Depends. You could save on LMI – but your money would be tied up. If you use LMI you could have more money to invest elsewhere so I guess it boils down to whether you think you can invest your money at a higher return than the cost of the LMI taking tax into consideration too.

I actually lived on a place where the owner rented out the rooms individually while i was at uni – briefly. There were problems with no one wanting to clean common areas, broken common appliances – who do you blame if no one owns up. generally less care was taken with the place and the yard etc because no one had sole responsibility.

frances52 wrote:
I have just joined this site and have a similar question, but for the opposite result,My husband (of 25 years) and I jointly own our property and he would like to transfer the home into my name onlyDo we need to pay stamp duty etc on this in NSW?

Hi FrancesHave a look at the relevant NSW legislation, The Duties Act (1997), s67…[Read more]

or maybe you could have an agreement in place and leave them off the title and loan.

It can work out more but lots of hassle – eg. who manages it all, will you live there too? What about energy bills, cleaning etc. You will probably have to cover this out of your rents

If fixed rates are lower than variable then the bank is betting rates are going to drop more – They employ thousands of expensive economists to analyse such things – but they are not always correct.

Thanks HanyI think it is just a scam – this company anyway.It just doesn't make sense. If you could make 5% per bet, why sell the thing? imagine the compounding effect of 5% – or even 1% per day.Also they say they have just 5000 licences world wide – that is 5000 people potentially betting on the same sport. Book makers will soon change their odds…[Read more]

Thanks Tmi

business is high risk. Why buy one when you can start your own cheaply?I am not too keen on franchises tho you can borrow on some of the bigger named ones.I have one friend who started a business from scratch and made more than $1mil profit in the first year with little outlay. So you can make money if you have what it takes. Some people have the…[Read more]

rising defaults and bankruptcies

HiTo get a loan you need to demonstrate serviceability, so with increasing the loan you will have t prove you have the income to service.There is a section in the tax act called part IVa whereby the ATO can deny a deduction if the scheme had a dominant purpose of reducing tax. There was a case called Harts where they capitalised interest on an…[Read more]

Yes, probably a delaying tactic to make more profits. They will always claim increasing costs as a reason not to pass on the cuts in full

alfer wrote:
Thanks for all the help.  In answer to some of the questions I have put and/or nominee on the contract so no problem there.As for what you said Terryw in that the trust cannot distribute losses, is that relevant because won't the trust be making a profit?  The trust owns the property and receives rent in the form of income but d…[Read more]

Possibly – depending on your income.You will be capitalising interest – the ATO seems to be fine with this as long as the dominant purpose is not tax minimisation.

So you want to sell a property to buy another?I would worry about selling now – at a low point in the market. Selling costs, buying costs on the repurchase, the loss of the main residence CGT exemption and land tax exemption.Why not just access some of the equity and then use this as deposits on new properties. AS long as you have the income, you…[Read more]

Disadvantages include the difficulty in getting finance and resale.I also think, depending on the company constitution, other shareholders may have to approve the person buying in.

You had better tell them you are not proceeding or you may be locked into a binding contract. hurry and seek legal advice or you could lose a lot more.

Give them a call. The problem with Macquarie is that the rates changed a few times and your rate will depend on when you took out the loan and how large it was. I know it is hard to keep up with them – best to bite the bullet and leave maybe.

Stamp duty would make this expensive. But these days without an income it is difficult to borrow.