see http://www.tenants.org.au/publish/links/index.php for a link to a union in each state.

Lifestyler wrote:

Terryw wrote:
Maybe you could look up the tenants union in your state and ask their advice – do a google search.

Do you mean the Residental Tenancy Authority??   Thnaks, I will try to call them and see what they say, but with all of the trouble from the Real Estate Agent I had in my last tenancy, I didn't feel I had much sup…[Read more]

HiI think that is a good question that more people should ask themselves.I think you will need to do some calculations and see how much interest you would save annually if you were to pay off your PPOR loan. Then, If you sell the investment you will probably need to purchase another one to keep your investment going. So you will need to work out…[Read more]

This is how I think it works.You now have one block. You split it into 2. This should be CGT exempt if it was your main residence. The block remaining your main residence will be CGT fee. The new block will attract CGT with the cost base being the value of the land at sub-division. You then build and sell – with the 12 month discount on CGT being…[Read more]

You could argue with the lender that the valuation was low or maybe try another bank. But I guess the other party wouldn't want to pay above market value.Are you aware that you can access your super for an emergency such as being behind on your home loan repayments? Talk to your superfund about it.

Maybe you could look up the tenants union in your state and ask their advice – do a google search.

McNormanThat book is a bit old now I think. Tax laws change rapidly too. I haven't read the book (but would like to)am not sure, but I haven't heard anything like this before. I know that is a provision for acerages whereby the land surrounding the house can be classed as part of the main residence for up to 5 acres – but I had always assumed it…[Read more]

Hi PosI think with Living off Equity you will need to set up some guidelines such as the maximum LVR you will ever go to. You will need to leave a buffer to allow for falling house prices occaisionally do valuations at least every year. Plan, early on, how you are going to keep on increasing loans too. eg. get an ABN and prepare for the eventual…[Read more]

Hi MeldThe advantage with a company is that it is a separate legal entity, so that if the business is sued, it is the company that goes down – not the shareholders or directors (unless acting illegally). Another advantage is that it is a separate entity for tax purposes. The company can retain profits and be taxed at 30% max, and/or it can pay…[Read more]

newbi2 wrote:
In NSW, a contract is not binding unti it has been signed and exchanged. Until that stage, it is still a negotiation with the buyer able to pull out and the vendor able to sell to someone else even after offer and acceptance, hence some people think they have been "guzumped" even though they had not yet entered into a binding…[Read more]

LOCs are completely different to IO plus offset as there is only one account. Any deposit in the LOC will be a repayment and any withdraw will be new borrowings. So if you have your pay paid into a LOC that is deductible and then take it out again for expenses then you will be rapidly decreasing the deductible balance. You could end up with a loan…[Read more]

Some states allow transfers between spouses at special stamp duty rates. check with the OSR.

Hi ScottThis is a complex area, which I don't know much about, but wouldn't you just pay tax in England under their rules and under the double tax agreement the Australian ATO would not tax you on your overseas properties again?

look at lawcentral.com.au at their agreements, they have one for property JVs

You can only have one PPOR – except for a provision for 6 month overlap.

I don't think there is really any one person who can do the whole package of advice for you. There is just too much for any one person to manage.You just have to keep looking until you find someone who comes close and then keep researching yourself and critically examine everything they advise you.

IO loans stay at the same balance throughout the loan. An offset account is a totally separate account to the loan. Any money in the offset account saves you the same amount of interest as if it were deposited directly into the loan account but it is still totally separate from the loan. So any money going into and out of the offset will still…[Read more]

well, by definition the value of a property is what someone will pay for it – so it should be a big factor, but I know what you are saying. It is always possible to start at a higher amount and then get discounts after the valuation has been done.

Interest on $42,000 is only about $3780 per year. If you had $25,000 in a offset account you would save $2250, so it may be worth setting up, even though it is a small loan. Depending on the value, you may also want to set up a LOC at the same time, taking the total loan to over $250,000 and maybe even getting a discount on the rates – and have…[Read more]

How would they know what to put down if they didn't know the pp? They would have to do some work.Why not tell them a higher price at the time of valuation – and they you could use your negotiation skills to get a reduction!