All Topics / Help Needed! / Personal Offset linked to IP?

Viewing 4 posts - 1 through 4 (of 4 total)
  • Profile photo of JoHJoH
    Member
    @joh
    Join Date: 2008
    Post Count: 9

    Hi we currently have a PPOR the loan of which is linked to a personal offset account. We are moving out of our PPOR and turning it into and IP. Can we still keep our personal offset account linked to the loan when it becomes an IP?
    Thanks
    Jo

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Hi Jo

    You can but are you intending to rent or buy another PPOR.

    If the later would you not just couple the offset account to the new PPOR loan.

    Assume the current PPOR is interest only…

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me

    0-40 Properties in a decade with an unencumbered value of over $35M. Email for a copy of my API article

    Profile photo of JoHJoH
    Member
    @joh
    Join Date: 2008
    Post Count: 9

    Hi Richard,
    We are not going to purchase another PPOR for now, so in the meantime we will be renting ourselves for a year or two.
    So having a personal offset linked to an IP loan (interest only) isn't a probelm tax wise?
    Thanks for your help
    Jo

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Nope.

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me

    0-40 Properties in a decade with an unencumbered value of over $35M. Email for a copy of my API article

Viewing 4 posts - 1 through 4 (of 4 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.