[YetParticipant@yetendJoin Date: 2016Post Count: 9]

April 19, 2018 - 5:31 pm

Thanks Terry.

[YetParticipant@yetendJoin Date: 2016Post Count: 9]

April 19, 2018 - 2:58 pm

Hi Terry,

Thanks for your help . Will the above 80% you mentioned on owner occupied loan tax deductible? The purpose of loan will only be for future property investment.

Thanks

[YetParticipant@yetendJoin Date: 2016Post Count: 9]

December 18, 2016 - 12:55 pm

Thanks Terry. Appreciate your tips.

Cheers
Yet

[YetParticipant@yetendJoin Date: 2016Post Count: 9]

December 17, 2016 - 9:37 pm

OK. Maybe I’m confusing things. Please let me explain. I have one IP with no offset attached & also no equity to access for building granny flat/or second IP purchase. I do have PPOR with offset attached and enough equity to access for building granny flat. So I’m applying for a second loan/equity release of $120,000 using PPOR as security – this is what I called split loan.

Thanks
Yet

[YetParticipant@yetendJoin Date: 2016Post Count: 9]

December 17, 2016 - 6:57 pm

Hi Benny,
My understanding is not to park the investment money in PPOR offset account where it will be mixed with personal cash. As I need to park somewhere, isn’t it a good idea to have another offset attached to split loan. I think this helps with interest on the loan as I will only withdraw when needed for building just like LOC.
Please correct me if I’m wrong.

Thanks
Yet.

[YetParticipant@yetendJoin Date: 2016Post Count: 9]

December 17, 2016 - 12:39 pm

Thanks Benny. Thanks for the hints, I’m just worried I may not be able to provide evidence/invoice for 40% of the project/work as it will be done by myself and my builder friends via cash in hand.
I’m in a process of negotiating a offset attached to split loan – the one I got know is with PPOR loan, also I will make sure bank don’t deposit money in PPOR offset as it will be mixed.

Thanks again. I’m learning a lot through this forum.

Yet