Yes Diane, the same works here. You setup a a discretionary trust with a company as trustee.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au

There are a few companies in Sydney offering Islamic loans. I have written a post here explaining it about 2 years ago. Ican’t now remember how it works, but it was like a lease option where the clients are paying rent to the lender. It works out ot be exactly the same as paying X% in interest and these companies are even required to have…[Read more]

You will need a deposit to buy the property – as per normal transaction. But at settlement, or soon after, you should be able to collect the wrappee’s deposit. So you will end up needing less money than normal, but initially you would still need to complete the purchase with what you’ve got.

Terryw
Discover Home Loans
Mortgage Broker
North…[Read more]

Sarah

I beleive you can still choose between the two. one or the other, not both, can be claim as your PPOR at the same time. It may be better to chose the one with the higher growth. Check with an account before you claim.,

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au

Dreamer

Send me an email. I have a name in my office which i can send you tomorrow.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au

Not really. The nature of debt cannot be changed. The ATO looks at the purpose of the funds.

You should make sure you have IO for investment and PI for non investment.

You should also look at maybe setting up a LOC to pay for rental expenses – even interest. This will allow you to pay off your home loan earlier.

Terryw
Discover Home…[Read more]

1) sound ok if you are claiming market rent.

2) Sounds like you should be able to claim the main residence exemption for CGT if you have not claimed another property as your main residence at the same time. Check this with your accountant,.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au

Minors cannot enter into contracts and cannot obtain finance.

If you wish to buy a property for your daughter, maybe you hsould look at a Bare Trust. This occurs when you enter into an agreement with your daughter to buy a property with her as beneficial owner and you as the trustee owner. For all legal and taxation purposes she will be the…[Read more]

Woodsman

I am not sure who owns them, but their policies are different to GE. eg. they will do inner city, will also do low docs credit impaired up to 95% etc.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au

If you don’t use equity, then it will take a very long time to save deposits. Most investors use equity in their homes, and then with growth they keep accessing the increased equity for more properties.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au

It is just means using two (or more) properties as security for a loan.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au

I beleive the HUT trust must claim the depreciation against the rental income received in its tax return. Whatever is left over after costs and depreciation is distributed.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au

Just be careful that you don’t get your funds tied up for too long. Things don’t always go to plan and often go over time.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au

Hi Greg

It is pretty good isn’t it.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au

Having one big loan may save you a few dollars up front, but it can get messy – especially if one loan is for an owner occupied house. Even for investments, you would have to apportion interest per property at time time (which won’t be that hard if all are IO). However, what if you want to sell one property or to refinance it with another lender.…[Read more]

Tony Cordato once explained it to me in an easy to understand way. Just think of selling a house on a 42 day settlement. This is what usually happens. Now extend this 42 days to 30 years, with the added condition that the new owners may live in the house during this time, as long as they start paying for the house in installments.

Terryw
Discover…[Read more]

The two remaining owners would have to purchase the 0.5% shares from the other owners. The stamp duty should only be payable on the value of the 1% transferred. CGT should also be minimal.

Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Terry@discoverhl.com.au

Do you have non deductible debt? If so then you hsould use IO loans for IPs. No sense in paying them off which will decrease your tax deductions while you are paying interest on your home loan with after tax dollars.

Even if you have you home paid off, it would be wise to look at IO loans. You could still pay off principle when you wanted or you…[Read more]

Hi

I generally think it is better to rent first rather than buy a home to live in.

With yields so low, you could rent something in Sydney for about $400 pw, which would be worth about $500,000. To purchase something for $500,000 would involve considerable costs (not claimable) and the repayments would be huge – about $650 pw interest only. And…[Read more]

The family law court can look behind trusts.

I guess it would probably look at things like who contributed funds to the trust and the purchase etc. If it was all setup before marriage, than this should be stronger than if setup during. Best to talk to a family law solicitor about this.

Terryw
Discover Home Loans
Mortgage Broker
North…[Read more]