Yes, super is a great structure for someone your dad’s age and that can be a great strategy. income in super is taxed at a max of 15% whereas he may be taxed up to 45% outside. nearing retirement age means the money won’t be locked away too long as it could be accessed from age 55-60ish depending on a few things. once a superfund is paying an income stream any income supporting that is exempt from tax.

But the planner you are using sounds like he may be a cowboy, looking after himself more than the client. First look him up and see if he is properly licenced.

I have written about this topic in my last 3 newsletters. http://www.loan-experts.com.au/article/

First you have to consider whether you should jointly own property together. There are many reasons not to, and some reasons to.

If joint ownership then consider whether equal or unequal shares.

I generally favour TIC as
1. Each party can leave their share via their will, and
2. Bankruptcy of one spouse during or after the death of a joint tenant means the whole house will be lost and not half.

Plan ahead and there are some tax strategies available too.

Does a hair dresser need a builders licence to work as a parking inspector?

I clearly told you on 2 different forums that there will be little asset protection if you don’t get it right and that you need legal advice, from a lawyer.

Yes totally incorrect.

To transfer title any mortgage will need to be discharged. You will need to get your wife to apply for finance.

You need legal advice on this, get it wrong and no asset protection even if it is in her name.

Yes, but unlikely they will consider.

Whatever you can make the most money on with the least risk and effort is the way to go.

Wow, rent money is held on trust for you until released. Don’t believe the sick story (it may or may not be true) but demand they give proper account for the money held and complain to the relevant department in the state they are located in. They could easily lose their licence over this. However if they are dying from cancer they won’t care about this and the risk of being prosecuted may not be a worry. Maybe time to change agents too.

I think you shouldn’t be taking tax advice from either a mortgage broker or a banker.

Cancel the redraw and Borrow against the equity in the IP as as a separate split, using this for the deposit on the new PPOR.
2 benefits
1) no contaminating of the loan
2) avoids cross collateralising securities

sheridan & trish, this sounds like a risky strategy to me. Also doesn’t really make financial sense as your loan payments now would be very low whereas if you are renting at $400 pw you would need to earn much more money to be able to afford to pay this. Plus you lose the main residence CGT exemption.

Why not just borrow against the equity? Or if you want to change have you considered selling this and buying a new place and then acccessing the equity in this to invest.