If you have a non-working spouse it may also work out better if you put the money into a high interest account in the name of the non-working spouse so they will get income but no tax payable. do some sums to see if this will work out more than reducing the tax payable on the high income earner's negative gearing.

hi Sharra

Its hard to decide these sorts of things. Sometimes it is worth keeping a bit longer in the hope of some gains, but it is costing you a fortune. Maybe you could work out what it will cost you over the next year and then estimate the gain over the next year, and see if the gain will be more than the cost. If not it may be better to sell.

I think you need at least one property in your own name (per couple) to grab that CGT free status – this is the only asset you can get which will be CGT free and it should offer considerable growth over the long term. So not utilising this is a bit of a waste.

Demolishing and constructing on the land may also mean the lose of the pre-CGT status as it will be new property. So you had better check this too.

Will also depend on whether your investment went up during the time it was an investment.

Do you have a PPOR loan? Any equity in that property?

Deductibility depends on what the funds borrowed are used for.

You want to borrow money to use as a deposit on any owner occupied property. So the interest on this portion won't be deductible.

I also doubt you would be able to increase your loan to 95% because of the credit tightening.

verbal agreements can be withdrawn.

There is actually a huge different between buying in your own name and your name as trustee – it is just not reflected in the title deed. So if you did a search on someone you would not know if they held the property as trustee initially.

If the trustee were to change the new trustee's name must replace the old one on all legal documents and titles etc. if land was owned you would have to change the title at the land titles office – usually nominal stamp duty, like $100 or so, and they will want proof that it is owned as a trustee and the trust is still the same – if the trust changes, like adding a beneficiary, then they could deem the old trust as being replaced by the new and stamp duty payable again, + CGT, so you need to be careful.

You would also need to discharge and reapply for the loan again, new mortgage docs, guarantors etc.

Yes you can run 2 loan applications at once. you may be charged if you don't proceed though if the bank orders valuations and does the paper work etc, so check.

You should also ask your solicitor about getting the extension.