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Terryw
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Hi Tony

Doesn’t look good for Sydney does it?

There are many ways to structure a LO. The 40% extra is not fixed, the figure could be more – but are their people out there that would pay this?

Terryw
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Yes it is. But not against income tax, only against capital gains on sale. (But I beleive that in Canberra stamp duty can be claimed.)

Terryw
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I think CATA has it correct.

Terryw
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Hi

With a hybrid, the unit holder borrows money from the bank to buy the units (not the house), the trust lets the property be used as security. Then the unit holder can claim the interest on the loan against their other incomes. Losses still cannot be distributed from the trust, but because there is no loan, there will hopefully be no loss.

If…[Read more]

I think that is way too expensive. approx $1000 would seem reasonable.

I would do what Scott does, just maintain a spreadsheet and send your accountant one email summarising all your expenses.

Accountants are like solicitors, they would be charging you a fee for opening letters, for phone calls to chase up statements, a fee per page for…[Read more]

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Terryw
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https://www.propertyinvesting.com/forum/topic/24327/4.html

Terryw
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Hi

You should be looking for a loan with low exit fees, and/or portability – so when you sell you can take the loan over to the new property.

probably put up at least a 20% deposit to avoid mortgage insurance. Putting up more will save you a bit in loan stamp duty, but it may be best to keep a bit spare for costs.

I have really done something…[Read more]

That is terrible! The big C is my least favourite lender.

Terryw
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Usually people just don’t tell the ATO! but this would be illegal of course.

Have a look at the story on Hoges in todays SMH. http://www.smh.com.au/news/national/crocodile-dundees-tax-trail/2006/07/24/1153593272499.html

Terryw
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The gain in all this structuring will be asset protection, income tax minimisation, CGT minimisation and estate planning. The accountant did not mention these issues which are the only puposes in which you would use a trust.

When banks look at lending, they are looking at the whole package. Having a trust should not change anything, but having a…[Read more]

I think if the home can be legally used as a residence, then it will be ok:

“an eligible home will be located in Australia and will be a new or established house, home unit, flat or other type of self contained fixed dwelling that lawfully can be used as a place of residence.”

Terryw
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Generally many lenders are a bit worried about petrol stations as there many be contamination or environmental issues. So probabbly around 65% would be the max loan available. Arab bank is apparently good with petrol stations.

Terryw
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Generally many lenders are a bit worried about petrol stations as there many be contamination or environmental issues. So probabbly around 65% would be the max loan available. Arab bank is apparently good with petrol stations.

Terryw
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Generally the max you can borrow is 95% of the value of both properties. so, eg.:

Current IP
Val = $100,000
Loan = $85,000

New = $100,000
Loan = $105,000

Total Valu = $200,000
Total Loans = 190,000

overall LVR = 95%

Terryw
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Hi Lyndon

I agree, but beleive you actually have a choice on which property to claim. Maybe the old property would be growing higher during this period. It that case it may be better to claim that.

Terryw
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Hi Carlin

In some states ppty can be trasnfered without stamp duty if between spouses. But sometimes this is limited to divorces and a court order is needed.

Another cost would be legal fees. So you may have CGT, Stamp duty, Legal Fees, and loan costs – app fees, exit fees etc.

However, it still may be worth it if this could release some money…[Read more]

What sort of price are they asking? A friend of mine is getting $130 per week for allowing a ATM machine to be placed in a wall of his shop.

Terryw
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Cata

Sounds good in theory, but it would probably be very hard to get a loan for something like that. It would be very messy.

Generally the loans will need to to be in the name each title holder. But what you could do is get 3 or 4 splits, with each split used exclusively by each partner. So each can pay as much or as little as they like.…[Read more]