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    Division 293 tax

    I am hoping someone on this forum might be able to point me in the right direction... I have two super funds. Fund A is an SMSF which has the majority of my super. Fund B is my employer super which has a very small balance. Fund B has my life and salary continuance insurance in it. My monthly...
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    Manufacturing a deductible PPOR loan

    Let's say I have a PPOR loan of $100 and I have $100 in an offset account against this loan. I would like to buy $100 of shares on the market. I could use $100 in the offset to repay the PPOR loan, then create a split and redraw $100 to fund my share purchases. The interest on the PPOR split...
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    CGT and depreciation

    I have a question regarding calculating the appropriate cost base when selling an investment property. Let's say the unit was bought for $300k (including all associated costs) at the start of a financial year but depreciation of $10k a year has been claimed for the last 5 years (prime cost...
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    Cross collateralisation question

    Hi there I currently own a PPOR which is valued at $1.1m with a mortgage of $820k against it. The mortgage is with ING. I have $820k in the offset account, fully offsetting the mortgage. I also have an IP in North Sydney. It is valued at $420k and is financed with NAB with a loan of $328k...
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    Taking a baby on a plane

    Hi there My wife is taking our 8 month old baby boy on a plane trip soon. They are travelling Virgin Atlantic. I was just doing some reading on the Virgin Atlantic website under the section titled "flying with babies" and came across the following information: The last bullet point had me...
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    Suncast Sheds

    Bit of a random one... has anyone ever used / seen a Suncast shed? I am thinking of installing one in one of our spare balconies. We live in an apartment and the extra storage space will come in very handy. Just wanted to hear if anyone has ever seen / used one of these and if they had any...
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    Rules around gifts

    Hi there My parents have recently separated. They currently jointly own their home. My father is willing to forego his interest in the home to my mum. Due to the complicated personal situation it is important that my mother protects her assets and as such she would like to transfer the home...
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    Deductability question

    Hi all My understanding is that when you borrow money to finance an investment property, the costs associated with the loan (LMI, loan setup costs, etc) are deductible over 5 years or the period of the loan whichever is shorter. 1. Is this correct? 2. Let's say I have $100 of loan...
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    Minimum size

    Hi there Do most lenders refuse to lend against units below a specific size? I have been doing a bit of research and found out some interesting minimum sizes. Ubank - not less than 50 sqm Loans.com.au - not less than 40 sqm Do you guys know of any others? Bankwest for example? Is it...
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    Selling and legal costs

    Hi there Are selling (eg advertising) and legal (eg solicitor) costs deductible if you incur them in relation to trying to sell a property but then withdraw the property from the market because you decide not to sell it / cannot sell it? I know if the property sells, they go against the...
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    Break fee

    Hi there If you are looking at repaying a fixed loan early (eg from the proceeds of selling the property which is secured against the loan), then you usually have to pay a break fee. Let's say my fixed loan has $100 outstanding and the bank quotes the break fee at $5. Under my fixed loan I...
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    CGT / income tax on sale of Inv Prop

    Hi everyone A question on tax treatment at the time of sale of an Inv Prop. Let's say you are in the following scenario. When you purchased the Inv Prop you put in equity of $50 (incl costs). The loan against the asset has not been amortised / paid down since the purchase. When you sell it...
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    PPOR to IP - deductibility

    Hi everyone I just want to cement my understanding of what is probably a very basic concept to all of you. It involves the scenario of turning a PPOR into an IP. Scenario 1 Person A buys a house, his PPOR. He buys it for $100 and has an $80 loan against it. Over time he pays down the loan...
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    Ubank home loan question

    Hi guys My PPOR home loan is with Ubank and I have finally paid it off. Hurrah! My loan amount is $736k and I have the equivalent amount sitting in redraw. Currently every month Ubank direct debit a fixed amount out of my bank account as the monthly payment for the loan. I would like to stop...
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    New car - VW Jetta

    Hi everyone I'm thinking of buying a VW Jetta 118 TSI car. Does anyone have any thoughts in relation to this car? Any specific likes or dislikes? I'd just like to make sure I've thought of all the things I can before committing. Thanks so much in advance. Cheers
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    Breaking fixed loan

    Hi guys In February last year I fixed my $348k investment property loan with NAB at 5.9% for 2 years, paying interest only. So the loan has about 1 year to run during the fixed interest period. Out of interest, I emailed my direct banker at NAB to ask them what the break fee would be if I...
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    3 year fixed rates Citibank

    Hi there New time forum poster, but have been reading for a little while now. Plenty of knowledgeable folk on here! I had a quick question regarding 3 year fixed rates. I saw Citibank has a 3 year fixed rate at 5.75% and fees / charges which equate to a fairly competitive 3 year total cost...
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