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I am not sure what kind of salary packaging arrangements you / your partner have my I currently salary package $300 per week to my mortgage, and this amount remains tax free. We can package towards rent, credit card, mortgage, child care, accomodation, venue hire, and a range of other...

I have requested a quote from Clint Fudge, but havent received it yet. I have heard is work is of a very high standard, and he has been very helpful on the phone and email! If you go to his website he has lots of photos of his work.

we are installing instantaneous for our PPOR reno, we have been told it is more energy efficient, and obvioulsy the 'never ending' supply of hot water is a plus!

I pay mine approx $170, and that is for organising receipts / claiming for 1 IP which is 50/50 with my partner, and my end of year tax assessment is provided by my employer. I also have HECS and part of my salary is FBT. I also contact him regularly via phone/email over the year and I am not...

:)I have sent the link to my accountant - will let you know what he says! thanks again

Thanks bene313, I definitley will sit down and check this out with my accountant. In no way do I want to do the wrong thing, not my cup of tea at all, nor do I want to end up with a huge tax bill for overlooking the circumstances! I did ask him a hundred times over if this method was okay...

Yes that is correct. But our accountant advised us that the issue of concern is what the redraw is used for i.e. the redraw was used to buy shares, making it a tax deductible purpose, and what you do with the shares now or in 20 years is not linked back to the investment loan, I was told it...

Our accountant advised us that the redraw only becomes non-deductible when it is put towards a non income generating/non investment purpose. All of the redraw was invested in the share market, which we have been told is essentially the same as if it were used to purchase another investment...

Thankyou everyone for your helpful replies, it has definitley helped cleared things up, and like many of you, I would prefer to only pay the amount I need to as opposed getting a massive refund cheque, as we are currently renovating our PPOR and any extra $$$ I could use right now!!! I will...

Thanks shiftyphil for that info, I tried looking at the ATO website and couldn't get past the overview - silly me didn't see the detailed menu on the right hand side :rolleyes: That makes a lot more sense now, bene313 I think I will ask my accountant to assess my current situation (which wont...

Thanks bene313, I asked my accountant when I first received it, and he said we would process my 09/10 tax return and see what they come back with based on that, but it seems I may not have time, as my first installment is due July 31st. I will give a call however and ask what my options are...

:confused:Hi All, I've received a notice from the ATO after lodging my 08/09 tax return which has left me very confused. The notice said, that according to my 08/09 tax return, I have 'business/investment income which now requires me to pay quarterly PAYG installments'. Based on their...

:eek: you do wonder what people are thinking at times...although I guess compared to some I've seen it can be relatively easy to fix with lots of (neutral coloured) paint and a good sander!

Asbestos was banned in manufacturing from the early 1980's, however, it sat in the storage yards of many builders / tradesmen for goodness knows how many years afterwards, and in some instances may have been used in homes. It is true that the only way to tell is by testing, but there are...

Hi atsim, Are you counting the 350 + 450 from your rental income? I believe that banks only count 70% of rental income when making their calculations (I could be wrong). But I feel your frustration, I went through the same thing trying to get a loan...and was frustrated that FHB were able to...

dan c, thanks for the info - i didnt realise that! So technically taking into account the gross income I wouldn't fall into the 'mortgage stress' category. However, I have to say, that even with an equation using the gross income, it is still extremely variable and innaccurate. i.e...

I actually commented in another thread about the 30% mortgage stress equation. I think it's a completely invalid tool and mortgage stress would have to be assessed based on a houshold's earnings plus other debts. for example, my partner and I take home $2,000 per week. We pay $600 (sometimes...

totally agree here!

VYBerlinaV8 and rugrat you have demostrated my point exactly! You would need to look at each household's income vs overall debts and expenditure to determine whether or not they are technically in 'mortgage stress'. Very innaccurate data the media is working with, surprise surprise :rolleyes:

Just wondering what everyone else thinks about the equation i.e 30% of income or more towards a mortgage = mortgage stress. Say I take home $1,000 per week, and I need to make mortgage payments of $350 per week, that would technically mean I am experiencing 'mortgage stress'. However, I am...