Recent content by type_one

Agree using a licensed sparky won't always save your butt. I have mates that are sparkies and if running down to bunnigns was quicker than going to their preferred supplier miles away for a few meters of cable then guess what your getting. That's right, bunnigns cable. If it's dodgy you now have...

I most certainly wouldn't recommend Blacktown plumbing. They can't read basic maps of your yard to dig a hole. Spend a few hours digging in the wrong spot with a guy they hired on an excavator to find sewer pipes to no avail and then in the end pulled out a nice little device they put down the...

Thanks for the reply. All seems like good advice. I wouldn't be interested in selling down x% of it. Can I clarify though that once the six year runs out I then have to pay CGT from the date of purchase or the reset value from when it first became an investment property within that six...

I know there is a lot floating around on the 6 year rule but to me its all very generic. Wondering what peoples opinion on this scenario are. Bought a house and moved in as PPOR. 6 month later moved out and rented it. haven't bought a new house. renting myself. met someone else who has a...

There would be no blending under the approach I described. Wife would pull equity from PPOR and on lend it to hubby as deposit on an investment property. Hubby would then get a loan for the difference in his own name. The investment would be purchased in Hubbys name only. Wife is always no where...

Loan in Hubby's name with wife as guarantor doesn't release the deposit from the PPOR equity and then potentially puts the PPOR at risk if she uses this as the collateral for the guarantor. Assuming the wife's only part in the transaction was to lend the husband money and then all other...

Hi All, If a wife has the PPOR in her name only including the attached loan and over time builds up enough equity that can be drawn out, and she then draws that money out and does nothing with it, it isn't tax deductible as the purpose of the redraw is of a private nature. What if she...

Sweet. That's exactly why i was looking at it. Cash flow. Seemed crazy to be using my money to pay bills when I could use the banks. Well its my equity but you know what i mean. Do you know where this is spelt out in the ATO website or do they keep it a secret? thanks for the reply

I have a general question around claiming interest on monies used to pay bills related to property investing. If the cost is associated directly to the property i.e. council rates, water services, insurance etc etc and I was to pull money from the redraw attached to the investment property...

Really investigate "parking" $50k in your offset account. From what i know you could hit some ATO issues if you have any personal funds ever hit that account. in my opinion your best to leave it in your redraw until you need it. then tranfer it direct to where it needs to go i.e. a real estate...

Seems to me there are lots of opinions on this but one thing is consistent. The legislation is unclear on responsibility if something should happen. To say it?s the landlords responsibility to have a working smoke alarm at the start of the agreement if fine. But how do you ever prove it either...

Hi All, Is anyone getting similar experience from their property managers. It seems to me more and more real-estate?s see that rent roll in and just have to get their little mitts on as much of it as possible. I mean seriously they charge roughly 7% and from my experience they collect rent...

I think the ATO told you the thruth by what you wrote. "I called the ATO and they said that it shouldn't be a problem as at the time of redrawing the funds, it will be used for generating an income" The key point being 'at the time'. once its no longer generating an income you lose that...

I am going through this at the moment. Releasing equity via a new valuation. been about two years since pruchase and i think an increase in value would be quite good. i have a figure in my head and will see what the bank comes back with. I have renovated and value in the area have jumped. To...

Thanks guys. I have the money for a 20% or more deposit but want to use as much as I can to buy again. I just started looking at using 5% deposit instead of my usual 20% that I am more comfortable with. I like having a bit of a safety net in my properties. I have got to the point where I have a...