John. Here is a good site regarding depreciation by a quantity surveyor:
http://www.washingtonbrown.com.au/site/depreciation.cfm

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

Try this site as well:
http://www.washingtonbrown.com.au/site/depreciation.cfm

There are a few PDF files on what stuff you can claim

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

As Mortgage Hunter said, each bank has different criteria which is not always very trasparent. Brokers have access to banks excel spreadsheet calculators, but unfortunately we cannot give these out.

As a guide, Most banks take 100% of income, 80% of rental income into account, and then a living allowance which varies depending on how many…[Read more]

Cornel

You can use the money to pay for those (or anything), but the interest on this portion won’t be claimable. It doesn’t matter when you take the money out as the ATO goes on the purpose of the money. You can still do it tho, just don’t claim it.

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

Yes I purchased it a few years ago. It works ok, but does take a bit of effort entering all the data. I didn’t find any mmistakes on mine, but didn’t end up checking all properties because it takes so long to enter.

The trouble is you need a special code to operate it, and if you re-install it you have to fax away for a new code. I reformated my…[Read more]

Try one of the big mobs like masterton. that should give you some ideas on pricing.

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

Cornel

Since you have been living in your property, you could probably continue to class it as your main residence even tho you are living elsewhere. you can do this for 6 years as long as you do not class any other property as you main residence at the same time.

You could withdraw equity form you property and put it in the bank, but why? You…[Read more]

Leonid

The trust method described sounds feasible. Just bear in mind that this will affect your loan serviceability for future loans. Are you sure they do not qualify for a loan on their own?

For your parents in law, it may depend on their residential status. ie are they permanent visa holders or citizens? If not, then they may have to get the…[Read more]

No losses can be distributed from a trust, including hybrid trusts. The losses will be calcuated each year and can be rolled over and overset against future income.

With hybrid trusts, there is a way around this by the unit holder borrowing to by the units in the trust. That way the ‘loss’ goes to the person rather than the trust. Since the trust…[Read more]

David, it also may depend on if you wish to class another property as your main residence for the same period.

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

Any trust can carry losses-I beleive indefinitly until a profit is made.

Troyid, maybe you company shares can be owned by a discretionary trust. All profit could then flow to the trust and from there distributed elsewhere at the trustees discretion. (possibly with franking credits).

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

Points can really add up when you have several properties and pay for all rates, repaiors, insurances etc.

Seven is right about limits. Banks usually take 3% of teh card limit and add it to your monthly expenses. They do this whether or not you pay it off in full every month.

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

I beleive GE mortgages offer a 40 yr PI loan.

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

that was number 1000.

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

Thanks guys!

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

Welcome back Stuart.

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

From the wrappees perspective, I beleive wraps are great. Many people would be paying much higher rates and huge exit fees if they went to a non conforming lender.

From an investors perspective, I have done a few wraps and probably wouldn’t do any more. The returns are not worth the effort and hassle. It also hurts your borrowing capacity by…[Read more]

disgruntled ex-partners are a great source of info!

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

However, having many enquiries that you haven’t gone ahead with is not such a good thing. It is best to limit applications where you can.

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

The ATO has various methods of checking up on people, but one of the best is the old human intelligence. ie people dobbing tax cheats in. They have data matching software, but a lot of people fall thru the cracks.

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