No, buyers agent fees are a capital expense and not deductible.

Depends on the state the properties are located in.

In NSW joint owners are assessed on a single owner for land tax and then given a credit for properties they own on their own.

e.g. $500,000 worth of land held by 2 people jointly is subject to land tax.
$250,000 held each isn’t.
$500,000 joint with X owning another house with $200,000 worth of land tax = Jointly liable on the first and X liable for $250,000 plus $200,000 = $450,000 which is just over the threshold.

That is really a personal choice. keep in mind you can only use up to 90% of the value, not the equity so you may have less useable equity than you thought. I have clients that have taken loans up to 90% repeatedly and done well out of it, but keep in mind the property bubble could burst and you don’t want to be over exposed.

Ironlady – vetting of a deed by the bank should take just 1 day. Some ask for various documents which have been missed or maybe for amendments to the SMSF deed etc which could cause further delays, but it shouldn’t really take that long.

SMSF loans do tend to take longer than non smsf loans (not that there is any reason for this!). You could try asking how long, but they may not really know the answer.

Your options may be to exchange now subject to finance, wait, or find another buyer.

Hope the SMSF is not lending money to a family trust. They are probably just confused.

Is it the product that you are on?

The company as trustee can apply for an increase to get access.

Scotty,T the 6 year rule only applies to absences. if you are living there and renting part you are not absent, so s118-145 cannot apply. s118-192 covers earning income from your property and the CGT results.

Assuming you own 50% with your son, this would mean you would be up for CGT on your share transferred to him. He would be up for stamp duty on the value of the share transferred to him – not 50% of the stamp duty that would apply on the whole property.

there is also the option for you to own much less than 50% to reduce both the CGT and stamp duty.

I just come across this article
http://www.smh.com.au/federal-politics/political-news/labor-offers-to-end-super-concessions-for-the-rich-20150401-1md29e.html?stb=lkn

Quote from teh article
“ASFA shows, for example, that there are 475 people with more than $10 million in their superannuation accounts earning $1.5 million in income and there are 100,000 people in Australia with superannuation balances in excess of $2 million,” he said.