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Really appreciate and value your comments, Jamie and Redom. I've PMed Rolf with some details for his thoughts too. Zargor :)

Hi All I mentioned in a separate post I now have $90k cash which I intend to use as a deposit/deposits on an IP/IPs. The bank I currently use (which rhymes with wet-patch) has stated they will lend me $450k. I haven't lodged any formal loan application yet. I don't want to use the whole...

My situation wasn't an incorrect set-up situation ... just the former situation Mikezen mentioned. MZ, I might PM you with some specific questions I have if that's OK :) Zargor

Hi All Without going into details, I'm now starting over again from an almost nothing base. Over the last year I've scrimped and have been able to acquire $90k through saving, selling old stuff, renting my body for weird medical experiments and making some tough decisions. I have decided...

DavidMC, See if your employer can pay a "Living-Away-From-Home" allowance, which has concessional FBT implications. This may work-out better for both you and your employer as if the employer is still reimbursing the exact amount of your air-fares (as opposed to an allowance), there is...

You can sell the one and keep the other, for say rental purposes. With the one you will sell, keep the following in mind: a) You will have to pay income tax on any profit you make at normal rates (i.e. not treated as a capital gain at potentially concessional rates). b) With the one you...

I can't believe that this thread has used 108 responses to attempt to convey the logic behind 2 x 0. Thank #$%^ Battler didn't ask what 13 x 13 is (don't do it Battler!!). Although Brooke sounds nice:D (Sorry Simon;) Zargor

We have our one and only trusty small screen TV, which I am close to kicking-in if wifey persists in watching debatable crap such as model reality TV and Sex in the City. Seriously, if I want to hear 40-50 year old women talking about how much sex they're getting, I'd simply go to the public...

Hi Vampii Please ensure you check this, but I understood that you didn't have a choice as to whether you could use the time basis and valuation basis for setting the cost base of your PPOR, soon to be your IP. I thought you had to go with the valuation method and you only use the time...

For what it's worth, you might be able to get the property for a "fire sale" price:D Zargor

I agree with Batgirl's summary, although, once again, this is merely a personal opinion. Well done to media outlets and other sources for pushing the "you don't have enough" mentality. We even have a government pushing people to spend, in order to avoid stagflation and ensure GDP is kept at...

Thanks everyone for your comments. The business is sound (27% net after commercial salaries), has infrastructure in place and the reason I have been offerred to buy-in is because I have helped build it up. I am being offerred a discount to market value (which I have independently had...

Thanks Guys, The purpose of the LOC can be for " housing, personal, housing investment or personal investment purposes (excluding business purposes)". However, as I see it, there is an argument that "business purposes" could mean simply funding instead of a business overdraft or debtor...

Hi Rolf, Lender is CBA and I have a Viridian LOC with them. The business will actually be a partnership of trusts (i.e. not shares in a company) for commercial purposes so I will be buying a share of the goodwill mainly as there is no stock, significant P & E (i.e. it is a service...

Hi All, Recently I arranged a LOC for potential opportunities that might arise this year. Figures as follows: Market value of house - $445k Loan - $157k (with redraw facility of $70k) LOC Limit - $130k So the LVR on our PPOR is now 80% with the LOC and no drawings on teh LOC at the...

Hi Whatever, Firstly, check with your accountant whether or not the ATO issued a ruling in the latter half of last year which talked about "moving in as soon as reasonably possible". There was a case where someone bought a property and couldn't move in until the lease had expired and the...

Hi People, Rachels, with your situation, you can still actually treat your PPOR as a PPOR, even though you are renting it, for a period of up to 6 years (on the basis that you are not claiming any other PPOR). Guess what? You can then move back into it (after travelling or renting) and...

What's the market value of the strike price of an option (i.e. not the property itself)? I'm not really sure what the answer would be (probably why it is best for a solicitor to be involved) but I would imagine that it is ok, generally speaking, given that put and call options are used quite...

Coupled with giving the trust an option to buy the property at a certain amount. Trust exercises the option in future for agreed amount, although market value of property higher and hey presto! Equity is now held in the trust and probably cash-flow positive (read disclaimer below). Zargor...

Hi Travelbug. I understand the logic of what you say - certainly reduces the potential CGT if you have a low valuation at the point you make it your PPOR - only issue is, I don't think you have that luxury of choosing (i.e. you are stuck with calculating CGT on a time basis). Perhaps...