All Topics / Finance / Using Re-Draw on investment loans

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  • Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    May 12, 2006 - 10:31 pm

    SK2

    The easiest way to avoid getting the run around with all these lenders is to give someone like Terry a call and get him to arrange it properly.

    Just email and tell him your requirements and he can arrange it for you.

    Richard Taylor
    Residential & Commercial Finance Broker
    **NODOC loans from 7.14%**
    Licensed Financial Planner
    http://www.yourstatefinance.com
    [email protected]
    Ph: 07-3720 1888

    Richard Taylor | Australia's leading private lender

    Profile photo of SK2SK2
    Member
    @sk2
    Join Date: 2003
    Post Count: 36
    May 15, 2006 - 11:36 am

    Thanks Richard I reckon that is what I will do when it’s time for my 2nd IP purchase.

    Also the ATO called back today and confirmed everything that was mentioned here. Offset account set up’s on investment loans are perfectly okay however using re-draw will require apportioning to claim back on tax.

    Profile photo of AnitamarshallAnitamarshall
    Participant
    @anitamarshall
    Join Date: 2005
    Post Count: 79
    May 20, 2006 - 12:49 pm

    Do you have a home loan on your own place – you might be better off working the salary/offset account on your personal loan finance as this wont affect your tax etc.

    Anita Marshall
    Advanced Finance Solutions
    http://www.advancedfinance.com.au
    [email protected]

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