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thanks i will definitely look into it properly and go with either LOC or redraw from PPOR bye

thanks for your help. does the seperate line of credit have the same interest rate?

what if we were planning to sell the IP this financial year? that would obviously make it much easier. we need the cash. we have no loan with PPOR. so we could redraw i guess, will have to talk to my dad. But problem is would it be more costly? as in setting up a new loan etc or is it easy done?

Hi I have an IP valued at 400k current loan 290k i would like to increase my loan to 320k (bank is fine with that) the purpose of funds is to use on PPOR renovations (non-deductible) therefore when doing my tax return next year: do i just calculate Interest from July - Oct will be 100%...

no i have just started doing renos on the property. will hold at least 1 year but no more than 6yrs as i will probably move out soon. i was just wanted to find out for my own knowledge.

thanks skater

i've had my first home for just over 6 months. i was wondering if i wanted to sell now could i (considering i want to keep the grant)?

thanks for your help, it was a borrowed amount. so no tax yay

Hi, i changed my loan from P+I to IO, and i received around $1,500 during that process. Do i have to include this in my taxable income for the year? where would i include it?

If it worth getting a valuation of the house done, just incase it is less then $450k? Does anyone know anyone that does Property Valuations in Brisbane on the forum? or do i just get it done from the Bank or Real Estate Agent?

yes i agree..but the bigger the company gets, the worse it gets at this.

just a quick question...got an IP, it has home and contents insurance, do i need landlord insurance or does home n contents cover it??

I doubt that any company repay's expenses "out of good faith" hahaha that is a joke...

thanks! I have moved out but haven't found a tenant yet. Can I begin to claim expenses for the property? or do i have to wait until i find a tenant?

Thanks Simon

Hi, I live in QLD and it has been 6months since i bought PPOR (first home) with FHOG. Can i move out and make into IP? Do i have to inform OSR? Do i have to pay back the grant? What do I have to do to change it to IP? just change my electoral details?? thanks

If property was gifted to me (not from a will), and i used it as a PPOR, would i have to pay CGT tax when i sell in the future?

Yeh they charge like 40-50% extra and then they put a 5-20% discount on it to make it sound like a awesome deal haha

Thanks for the TD. my interpretation of the TD is that complete 2009/2010 normal tax return. Within 1 month of settlement of contract (2011/2012 tax year) send an amended 2009/2010 tax return. Can someone confirm? Also any interest accrued would not have to be paid? Can you briefly explain how...

i have calculated the capital gain and it is about $610,000 under 4 names. Tax will be approximately $226,000 on top of their normal PAYG. How do you fork out $226,000 before you receive the money? seems unreasonable and we just dont have that money around. Will definitely go see a...