I think that Destiny recomend St George's portfolio product. It is a great product for a LOC, but a slighly higher rate than the standard variable loan.I to would never recomend cross collateralising your properties – too restrictive and hard to untangle later. And, if you are going to get a LOC i would recomend you only do so for the excess…[Read more]

Maybe contact the Tenants Union of Victoria http://www.tuv.org.au/homepage.aspx

The problem will probably be that you have a company as trustee. That means the legal owner will go on the title ie company, but the loan needs to be in the name of the unit holder. That is the main problem that banks have = loan in a different name to the title.St George used to be ok with this – but I haven't run across a HDT for a while now so…[Read more]

Hi PeetI think it would work like this:Base $100,000Sale $240,000Gain $140,00050% discount on CG if held more than 12 months = $70,000But only half is sold so 50% of this is $35,000This goes on the top of the taxable income of the person who sold it. But don't forget other costs such as legals on buying and selling and stamp duty can be taken off…[Read more]

On the title deed the name of the legal owner appears. This is the trustee. The name of the trust doesn't appear on the title – just usually on the contract and loan documents etc.

Peter Spann's book is great.

Hi MickHave a look at any first year law textbook on contracts such as "contract Law in Australia" by Carter – btw you can pick up very cheap books in the 2nd hand uni bookshops.It looks like contracts for land must be in writing and must contain the following essential terms (the 3 ps)- Parties- Property- PriceThe document must also be signed -…[Read more]

HiI guess the answer depends on your view of the market. Do you think prices will rise in the short term or fall? I am inclined to think that Sydney prices will rise as rents are going crazy here atm. This should push up prices – or rents at least. You seem to be getting a pretty good yield as it is too. if you can handle the repayments and don't…[Read more]

Hi AnneSounds  a bit vague doesn't it. Some of Spicers books are years old now and tax rules have changed. Some of the stuff which he promotes or hints out would be illegal too – eg hiding income in tax havens and not declaring it.

The problem with land is that you do not get any income – so you will be limited in the number of blocks you can get.

Yes, it does seem pretty good. thanks for the post

You can't have you cake and eat it too – unless you go No Doc – which are few and far between for commercial.

What about St George – they used to do 100% loans.

Yes you certainly can claim interest on land if you are intending to build a rental property. You can claim all the usual costs too such as rates etc.

Hi AnthonyThanks for your comments. You make some good points. I will have a look at that ID you mention and would appreciate it if you could send me a copy of what you have from the ATO.

Gibbo. did you learn much by doing the course?

btw have a look at the pdf files on http://www.bantacs.com.au. there is a lot of info there on this sort of thing.

You must be in QLD as that is the only state (i think) where the stamp duty varies depending on the purpose. How bad is the property, could you 'live' in it while renovating. Do you have another proeprty which you will be claiming as the main residence at the same time? Maybe have a look at the OSR website in QLD and see what they say about…[Read more]

I studied property law last year and from memory you need to be in possession of the property for a min of 12 years and there aer some other conditions such as the possession must be open, not secret etc. I can look up my law books if you wish.

Trusts can distribute to other trusts, so having a business in one discretionary trust and the house in another is a way to maintain separation of assets and offset losses.The ATO doesn't seem to like people renting their house from a unit trust in which they are the unit holders. see TR 2002/18 Income tax: home loan unit» «trust» arrangement "Hav…[Read more]