JP

Thats something to ask your accountant, but I would suspect you could claim it, depending on how long ago your loan was taken out.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

You just have to keep coming up with the deposits.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

I think I have read somewhere that the CGT exemption can be lost completely if the home was used for income producing purposes, whether claimed or not, no matter what percentage of the property was used.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

Originally posted by Maruco:
I am a Japanese, but now live in Sydney with a permanent visa.
Do you think it is possible for me to get loan in Japan to buy IPs here in Australia?
Or I have to live & work in Japan to get loan?
Or do you think it is possible that I ask my sister to get loan and joint venture to buy IPs here?
I didn’t know that the…[Read more]

Originally posted by hmackay:
Terry,

Very interesting reading.

Look forward to your reports from Bankok.

PS..Could you check out the price of a bar in Patpong please.

Sayonarah

hrm

Hrm

Went thru Bangkok briefly on the way over, and am going there on the way back. It seems property prices in Bangkok can be expensive similar to Sydney, eg…[Read more]

Good post Dazzling. I know a lot of people wearing the second hat. They get used to it and it ends up being too hard to break out and go on their own.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

I would like to, I am just in the process of researching loans here. It seems I will need a permanent visa, and job here first. I don’t want to stay here at the moment, so may have to go into a joint venture and buy in someone else’s name. Also not sure of the rental yields yet.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

Yes, I beleive you have to claim it over 5 years, or term of the loan, whichever is shorter.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

Before switching to finance, I spent 6 years in the Aust Federal Police. I was an Austrac ‘expert’ and read suspicous transaction reports daily. These are reports usually filed by banktellors, or foreign exchange office staff. They can report anything suspicious, like a customer sending money overseas and looking very nervous; someone coming in…[Read more]

Yes, I can’t understand why people just don’t buy. Many probably ndon’t want to commit to a long loan.

Another thing cheap here is cigarettes. pack of Malbrow costs about $4! And kids can buy them on the streets from vending machines.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

Many can now get finance, but the rates and conditions can make taking up a wrap cheaper.

eg. a 90% low doc loan with GE. The rate is about 10.65%, you must still put up 10% deposit, plus they have huge upfront costs and exit fees. And then there are the postcode restrictions.

All this makes wrapping look good, esp if you will be charged about…[Read more]

I owuld probably keep saving like made, then buy your first property – live in it for 6 months to qualify for the grant, and then move back home and rent it out.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

Bankruptcy is a long and complex process. It would probably take up to one year for someone to force you into bankruptcy. If they do, then it is basically over for them, so it is in their interest to keep you out of bankruptcy. They may accept to settle for a lower sum, or may accept payments in installments.

Go to your local library, and have a…[Read more]

It wouldn’t be CGT reasons – this is based on the date of contract.

He is probably assuming the property will rise in value during this time.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

http://www.gatherumgoss.com look for Dale’s book on Trusts, called trust Magic.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

I suspect you will have to pay CGT here if you are a resident for tax purposes here. You would probably only have to pay income tax if the tax you paid )if any) over there was lower than the Australian rate.

have a look at http://www.bantacs.com.au for some free brochures.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

One thing that is more expensive over here is beef. Had some Aussie beef tonight, cost was about $30 per kilo – they sell in 100g lots here.

Plenty of foreigners own proeprty here. it is not hard to do, the hard part is getting the finance as banks want to see 3 years work history in Japan.

My Japanese is not bad, I started learning more than 15…[Read more]

The trustee will personally guarrantee the loan. SO in effect, it would be very similar for the trustee getting a loan on their own.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au

Munjy

CGT would be payable on what you paid for the property, including any rebates. Stacking the contract would not be required, but may be helpful in getting a higher valuation.

I have a client who pays cash for his proeprties without stacking and he received a valuation 20% higher than purchase price.

Thanks hellman

TMA,…[Read more]

Yes you both could guarrantee the loans, but this may hurt borrowing capacity in the long run and create more risk if something goes wrong.

Terryw
Discover Home Loans
North Sydney
Terry@discoverhomeloans.com.au