1. NAB will probably require a separate package.
2. Probably as 2 different entities/borrowers. You can negotiate.
3. not necessarily.
4. It is possible.

I would suggest you get advice on taking the money from the offset to the trust. Is this a loan or a gift? each has different tax and asset protection consequences.

ps, you can only claim on the basis of title. If you were joint tenants with your wife you can only claim 50% of the costs and receive 50% of the income.

Good idea Dave

Yes. It is a complex tax question and not a simple yes/no answer.

If you do a search you will find many links I have provided to about 5 private rulings on this topic. I am on a different computer now so don't have them handy. Let me know later if you can't find them.

If you only have $27k private debt left, then this is not too much to worry about. You should be able to knock it over in a year.

To speed things up you could look as using a LOC to borrow to pay expenses with the IP (in addition to that suggested above). Talk to your advisor about borrowing from the LOC to pay interest on your investment property too. This will free up cash so you can pay off your home loan in half the time.

Since you are spouses the lenders will usually take both into consideration, even if one is not a director and as long as she has an 'interest' in the structure such as shareholder, beneficiary.

It is generally not a good idea to name too many people as beneficiaries directly as you may not want her to give a guarantee in the future and some lenders require all named beneficiaries to provide guarantees.

I was looking at some postgrad courses at the University of Western Sydney and they have some subjects in Property Investing. Atax at UNSW also have some subjects as part of the Master in Law/Tax & Fin Planning in Property Investing and taxation.

This is the trouble you get when using a conveyancer.

Even though a contract is unconditional the purchaser may still be able to get out of it in many instances. eg. If there is a search required to be included in the contract by law and you failed to include it this could be enough grounds for a purchaser to terminate the contract.

If your property did have unapproved structures on it the council could order their demolition. If this occurred before settlement then the property the purchasers thought they were purchasing would be substantially different and not the one they contracted to purchase. This could be grounds for termination too. I am not sure how Tassie contracts are worded, but it may also be possible that if a demolition order has been given before settlement then notice would be given and the new purchaser would have to comply with the notice after settlement. If the demolition order had been issued before the contract was entered into and it was not disclosed to the purchaser then the vendor would be in breach of a warranty if not disclosed in the contract.

What the purchaser should have done was to include a special condition in which the vendor ensures that all building works have council approval.

You would pay either CGT or Income tax on the profit – depending on your intentions and set up. You would also probably have to charge GST. see http://www.bantacs.com.au for a good PDF doc on taxes around developing.

I believe stamp duty could be exempt in VIC for transfers between spouses, even with investment properties. But beware of the ta implications. If you are doing it with the dominant purpose to save tax then the ATO can disallow the deductions under Part IVA.