So after a few weeks delay, I am now expecting formal approval from Suncorp on Monday 1 December. I am refinancing from NAB. Do you guys think this refinance will be able to get through before year end or am I no hope?
This page from the ATO website seems to contradict what you are saying:
https://www.ato.gov.au/Tax-professionals/Tax-agents/In-detail/Practical-tips/Paying-Division-293-tax/
At the top of the page, it states that clients can pay the tax personally "out of their own monies". Maybe I am missing...
With the current Suncorp package deal where they are waiving the annual fee for life - if I apply today, what is the chance of the refinance going through before year end? I have heard there are a few delays with the process.
I am not expecting any issues with valuations or income etc.
Hi Paul
Thanks for your response. I formed the same view myself after reading the documents but just wanted to confirm in case my understanding was incorrect. I don't think my question was "begging" for "free guidance on strategy", rather it was a question on compliance and making sure I wasn't...
I am hoping someone on this forum might be able to point me in the right direction...
I have two super funds. Fund A is an SMSF which has the majority of my super. Fund B is my employer super which has a very small balance. Fund B has my life and salary continuance insurance in it. My monthly...
Thank you Terry. What if I borrow and transfer the funds to a broking account which I then use to acquire shares (over the following few days)? Is the law slightly flexible in that regard?
Let's say I have a PPOR loan of $100 and I have $100 in an offset account against this loan. I would like to buy $100 of shares on the market.
I could use $100 in the offset to repay the PPOR loan, then create a split and redraw $100 to fund my share purchases. The interest on the PPOR split...
Google Microsoft Money Sunset Edition. It is a free download from Microsoft and does the job nicely. You can also track investments like shares, etc if you wish.
Hi BrettC
I have a policy with EBM insurance on my investment property which has about 6 months to run. I have recently sold said investment property - is it possible to get a refund from cancelling the policy as I no longer need it?
Cheers
Thanks Rob G and Gatto. I think I'll just treat them as costs I can't deduct. I assume the cost of painting can be added to the cost base of the asset to reduce the CGT liability on sale? I don't think I can add the interest cost to the cost base though.