Hi HKYou should easily qualify for a loan here straight away.Buying a unit for cash could be a good idea as you would have a PPOR which would be CGT free. Once you have this property, you could mortgage it and purchase more investment properties using the initial loan for deposits and costs and borrowing the rest. Renting initially and investing…[Read more]

HiIt is probably best to set up a new structure here. hopefully your NZ trust deed is worded so that any trust you set up would be a beneficiary.Tax issues involving 2 countries are very complex so you should seek good advice. Eg. if you come back to Australia and become residents for tax purposes you could be up for CGT on the NZ properties which…[Read more]

I personally wouldn't use one of those so called cashflow mortgage products. But I would use a LOC to pay for any shortfall which is essentially the same thing with less costs. Properly structured this would help you pay your PPOR loan off quicker and give you greater tax deductions and it would look less like a scheme to avoid tax in the eyes of…[Read more]

With your wife not working, she will not be saving much tax if she doesn't pay any, so buying a negatively geared property in your name would save the most tax – income tax. But if an investment property was in your name, and you were the highest income earner, and you sold that, then you would have to pay much more CGT. So you may save a bit of…[Read more]

virgininvestor wrote:
Hi,When will this end?

Never, unfortunately!

You should ring centrelink and talk to one of the financial 'advisors' there. They will assist in answering your questions. It can be very complicated trying to understand their rules!

I was going to suggest you go overseas too. I have been to the dentist in Thailand, and they are very professional and clean too. One of my mates also went to the phillipines recently to get some dentail work done. He said it would have cost him $20,000 here, but only about $4000 over there.

The trouble with ANZ is that you get different answers from different assessors (who don't know their own policies)!

Transfer duty on share trasnfers is a state based tax, so things will vary from state to state. Your best point of research would be the office of state revenue in each state. I think you will find that in some states you will be able to avoid stamp duty on the transfer as long as your company would not be classified as being "land rich". In NSW…[Read more]

You certainly need a proper contract to rent your property out. I think you should be able to buy standard rental agreements online.You could also use an agent to find a tenant, set it all up, and then manage it yourself

Lets break things down a bit.You want to sell your land to a trust. That should be ok, and the trust will be able to borrow the money to buy this from you. Since your trust is borrowing 80% it needs to come up with another 25% for deposit and costs. You could lend the trust this, or do some vendor financing. The trust should be able to claim the…[Read more]

ANZ have previously done hybrids, Loan in a different name to the title holder, but they may have changed their policy recently.St George seem to have no problem with it.

hi JebroMaybe is is just a revenue raising exercise!. Funds contributed to either structure. could be a loan to the trust,

Hi JebroThat is interesting, and I would like to find out his reasons for recommending a partnership of trusts rather than a unit trust. I am not sure what the difference would be as you could have a unit trust with 50/50 units owned by your own discretionary trust. This would seem to be the same as two discretionary trusts jointly owning a project.

Blueheeler, What makes you think you cannot claim the interest on a LOC? Having a 100% offset account won't help with any shortfalls if the person is low on cash either.

A caveat means another person has in interest in the property. They are not supposed to be issued for loans. The title cannot be transferred until the caveat is removed, so things could get messy if it is over a marital breakup etc. Your solicitor should have been able to see onl what grounds the caveat was issued.

The best place to look in these sorts of situations is the tenancy union in your state. These are set up to protect tenant's right's and usually have things clearly spelled out on their websites. Check out QLD's here:http://www.tuq.org.au/ff_eviction.asp

You should pay IO on it, unless you have enough cash to pay for the new one outright. Otherwise you will be decreasing investment debt which you can pay the interest on, while increasing the loan on your new home, which you cannot claim.

Yes, St george may even do 100%. They have their own mortgage insurers and can do things other banks cannot.

From a tax perspective the property is owned by the trust. If the trust is a unit trust, then the ATO doesn't really like it and has put out a ruling a few years ago warning against it. If it is a discretionary trust, then it may have more of a chance, but unless the trust has other income, there will be a loss (usually) and this will not be able…[Read more]