plenty of time, just ask your bank.

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

It should be possible to do, within limits. And as Simon says, the ATO Commissioner has the power under part IVA to disallow a deduction if it was entered into with the dominant purpose of saving tax.

So, just refine your strategy a bit. Maybe charge a rent similar to market rent – get a rental income appraisal from an agent, tell them you don’t…[Read more]

Just did a google search and found him, but it appears his firm has merged with deloittes:

http://www.deloitte.com/dtt/press_release/0,1014,sid%253D5527%2526cid%253D30737,00.html

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

Funny you say that, my accountant used to sit on mine for at least 3 months every year after I posted it to him. I now do it all myself.

I have remembered there is a good accountant in Canberra called, Tony Commiso (or similar). Will ask a client of mine for his details, as I have probably spelt his name wrong.

Terryw
Discover Home…[Read more]

Must have been Westpac?

Most banks treat trusts the same as individuals, with the same conditions and residential rates, and you should not have a problem.

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

Rick is very good at wrapping and lease optioning. His materials are good, with loads of information.

You could be successful if you are prepared to put in the effort, but I think most people who buy these sorts of courses never actually get to implement the material – for various reasons.

Having the contracts may help, but if you just went to a…[Read more]

Hi Romina and Luca

You appear to have a little bit of equity, so, depending you your husband’s income, you may be able to buy another property sooner than you think.

eg. increase your existing loan to 90% of value, this should give you $42,000 extra (in a split loan).

You may then be able to use this as deposit and costs on the next one.

eg…[Read more]

Originally posted by G3ipd:
Thanks Terry,
In the following scenario
Property purchased our company name and/or nominees in the event we can’t get finance through can our nominee (a individual person) continue with the sale and our company exit from the purchase? Do you believe that double stamp duty be liable in this instance…considering this…[Read more]

I spoke to a loan assesor at a major bank last week and he said that approx 80% of valuations had been coming in under recently.

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

Ihave never heard of the landlord paying for part of the electricity before. The electricity should be connected in their name, so they are the ones responsible.

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

Originally posted by Jaffasoft:
Agent in Qsld wouldnt let me use ‘and or nominee’.

Couple year ago.

Variety of free comprehensive property analysis calculators and feasability programs.
Developers Renovators Spreadsheets Positive Cashflow Home Owners
Lending Money Joint Ventures Five Star Checklist Subscription
Learn about a current 91 Unit…[Read more]

Why limit yourself to canberra? There are many in Sydney and Melbourne to chose from.

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

Maybe:

Raby
Campbelltown
Mount Durrit
and surrounding areas??

(I hope I haven’t offended anyone living in these areas).

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

Do you mean Auction?

If so, it was probably cancelled due to the owner coming up with some money at the last minuite.

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

Dazzling has proposed some good questions.

If it is an investment, you dad will probably be hit with CGT, and your brother with stamp duty (whether it is an investment or not). Can be costly to transfer. Maybe there are other options?

If you brother is buying it, then he would need a loan unless he can afford to pay cash. Whether he could…[Read more]

I can recomend Matthew at Peter Worral Lawyers down there.

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a blank email, with “subscribe” in subject line.

In some states the nominee must also be in existance before the contract is signed. So if you sign and/or nominee, then set up a company or a trust, you may not be able to nominate that entity, if you do, then it may be considered onselling and result in another payment of stamp duty. I think NSW and QLD fall into this category.

Terryw
Discover…[Read more]

Originally posted by red_rogue:
The other thing to consider is getting a loan for the trust or company. Lets say you earn $50k a year and your wife earns $100k a year (sucking up to my own wife with that). This means that the bank see’s YOU as Mr. $50k man, your WIFE as Mrs. $100k woman and the two of you (jointly) as Mr & Mrs. $150k.

If you…[Read more]

Depends on the state it seems. From what I hear, WA are very strict. I have done it in Vic with no problems, but there is a requirement to have a written agreement with your nominee before you sign the contract – or there used to be.

Terryw
Discover Home Loans
Parramatta
Terry@discoverhomeloans.com.au
Sign up to my mailing list.
Just send me a…[Read more]

Establishing a trust can cost as little as $137.

Getting finance is no harder or different to getting a loan your self.

Personal deductions can be obtained by using a hybrid trust

Asset protection is very good with a trust.

CGT implications – with trusts the income retains its character as it flows thru the trust, so if the beneficiary is an…[Read more]