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This was meant to mean when they retire paying out mortgage with super funds

I understand this, but how many people use their retirement super to pay off the mortgage? rule #1a super is for retirement purposes so if you could lower your mortgage over say 10 yrs then there will be more retirement money in the kitty and no need for lump sum payouts you are not accessing it...

I like this idea. I can't see why you couldn't argue the point that your super would be paying off your mortgage when you retire in a lump sum therefore your mortgage would be lower by use of an offset account today therefore leaving more in your super. This money is not earning 2.5% but 5% it's...

I haven't built the garage yet but I was considering putting in plumbing for a stand alone sink where with approval convert to a granny flat down the track. So a install of kitchenette would be simple, but he told me of the bank rule of having 3 living areas could be too much risk for the bank...

Council may not do anything, they could ask you to retrospective submit a DA hoping it complies with regs or ask to remove it. What you also need to be aware of is insurance purposes if it catches fire then you might not be insured.

It will depend on council, have a look at this thread too http://somersoft.com/forums/showthread.php?t=101980 the valuers/banks might not touch it.

it depends on your council, you may be able to build a garage on both boundaries but they will have to be fire rated. any building closer to boundaries will generally have to be fire rated

So if I had the property approved for a granny flat then the same applies you could rent out the top of the house the bottom of the house and granny flat, in my eyes I have a 2 storey house and granny flat they separate them into the specialized category still? what so you mean not the best...

Hi, I just had a house valuation for my PPOR where I am undergoing renovations, I have upstairs and downstairs to be, also a free standing garage (own access ie 2 street frontage) which will have a bathroom. The valuer mentioned they wouldnt touch it (the bank) if I were to put a kitchenette...

I thought someone out there would know the answer here?

Without hijacking the thread, I am considering buying a house IP with the view to either subdivide or sell the land off, if you sell the land say 400k does this need to be payed off the IP or can it go towards PPOR? I take you need to own for 12 mths to avoid huge CGT. Barney

I am waiting for pre approval finance with St George so I know what IP options I have it has taken 2 mths, I have been held up by not progressing because my Payslips didn't show additional contributions so they could verify. The chap was quite good about it all, initially I didn't make it over...

Top stuff thx :)

Terry, I was more interested in after the LRBA has been payed off, can you then change the property into 2 seperate titles and build using SMSF cash and sell both off. Which is not allowed under LRBA. MY OP should have been more clearer. Thanks Barney

I understand the improvements to property under LRBA and limitations, ie building the granny flat or adding/renovating with funds inside the fund. What is the rule once the property has no LRBA? Can you then subdivide or build units? Then the question comes down to financing it. My initial...

Hi, What is the purpose or should I say how does it benefit (depreciation) in a negative geared property held in a SMSF? Given you don't pay tax on income due to the -ve gearing. Cheers Barney

Live in it for 12 mths and pay no CGT

Greedy, just looking to keep them for yourself. The question i was querying on was granny flats/ subdivide on large blocks. If your Super has 200 k and 100 k is used to service a LRBA and you are a builder by trade, how does it work if you improve by granny flat doing the work yourself in a pty...

More reading on the issue, it seems you can build a granny flat under the rules or improve using SMSF funds to do so. I suppose that also means build a Dual Occ as there isn't any difference between them. The issue starts when you want to separate them for greater gains on own title. You can't...

Bill, I was under a similar premise that it would be OK but its nothing to do with council its the ATO restrictions on property investment inside SMSF. If the property was bought with the DA approved etc then it would be OK but adding/subdividing isn't. There are many sources that say the...