Recent content by KCprop

Yes that was my thinking as the MISA is not really a transaction account. Just wondering if there are any tax issues when moving the monies from the MISA to offset? I have never actually used the MISA account for any transactions yet.

are there any other fees to get that loan rate?

Was wondering now with CBA having an offset account (which I recently opened) should I move the monies from MISA to offset account instead?

Was looking to get a piece of land in SE Melbourne less then 20km from the city, sub divide and build dual occupancy. Live in one and sell the other. I have not done this before and was wondering if anyone has experience with this and as to what the cost of a fairly good spec build with full...

Thanks for the response Terry. What should I do in this case? Should I put $10k in the MISA so I don't pay interest and should I not claim the interest from the MISA? With paying for interest of the fixed loan in the future should I pay using MISA or from savings? Also does that mean...

ahh, so if say I have a variable loan account of $50,000 which when given bank put the monies in my transaction account and I use $10,000 to pay interest on a fixed loan amount and transferred the reminder to the variable loan account which automatically created a MISA account. Would that have...

If offset account is used as a transaction account would that have any tax implications? As doing so won't some of the monies but used for personal use?

Looking to get a loan to access equity from PPOR for IP, broker has mentioned that we can get a loan to draw up to 80% of available value which totals 80% with current outstanding amount but are separate loans. Then have this new loan available as a redraw instead of moving it to an offset. Have...

Would those be CIPs as well?

Would kids be taxed highly for interest in those accounts?

Fourex thanks for the info, I too don't think there is much point moving the water tank if it doesn't add value.

Are the tenants of properties under this scheme an issue?

Was looking at an IP and it had a water tank at the front of the property although it was covered by trees/plants I thought it was weird to have it there. Then went to the side to have a look and there seems to be plenty of space there. Would it be worth moving the water tank or just leave it...

menty that pic looks nice for a bathroom in the laundry but it looks like it'll cost more the 2k.