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Thanks guys! I thought I would only get taxed extra on the amount over $180k. Not worth the hassle for $100.

Hi guys, I am not really up with the new debt levy for those earning over $180k. It appears I will probably earn about $185k this financial year. Would it be wise to salary scrifice 6 or 7K into super on my final pay run for the year? Would this save me a few thousand? Should I just forget...

Does this mean interest paid on the mortgage of the house can be added to the initial purchase price...quote..... There is one situation to do with options in which the incidental costs relating to the CGT event are modified: see section 112- 85. (4) The third element is...

Thanks for the reply! The painting was requested by the tennants, and some other jobs which I could not fix in the time I was there. Was my groceries for the week deductible? I have kept the receipts for my bbq steaks and lunch.

I have tried to search for answers, but find this very confusing. To do painting on my IP, I have to drive 1800km each way. I can claim fuel costs for the distance travelled. I can claim accommodation for the time I was there, and for stopover accommodation on the way. Can I claim...

My short cul de sac in Karratha currently has 3 vacant houses. One has been vacant for 4 months. The Fertiliser plant is well underway, with ground work almost completed.

What if I was to hire a car for these jobs. I had to remove some trees and could have hired a truck? Luckily my father has a ute, so I used it to dump the branches on a friends farm.

Thanks for your advice. Is it OK to open a new acc. such as CBA Goal saver (we have one already with 80K getting 4.9%), put the 100k in there and use it for the extension costs. So damn confusing :confused: It will be traceable, and if we get short term tennants in the "granny flat" it is...

The other issue with Rio Tinto is the loan acc number cant be changed. This is where we currently sit with our application, as the increased loan had a new acc number and Rio were being difficult. Nothing has been finalised yet, so we can get this done properly I hope.

Well, we have some different ideas come up there. I will get the missus to request the money goes into the loan for redraw. If CBA dont allow that, should we put it in a new account to keep track of it, it will only be used for this extension project. My IP's are with St George and dont...

Yes, she still receives the interest benefit whilst she is on PAID maternity leave:)

Yes, I will do this. I have been following this site for a couple years and trust the general brains trust here. THANKS!!

Also, to make things more interesting. The extension is designed as a self contained "Granny flat". We could rent it out immediately after completion, but missus is pregnant and doesnt want strangers around for a couple years. Would this info change any opinions on best way to structure this...

My wife works for Rio Tinto. They pay 80% of the interest on our PPOR loan. This is their incentive to keep the workers in town. Rio have given us permission to increase the loan. The CBA is willing to give us another 100k. Maybe I should talk to the loan manager, however, I doubt she...

Thanks CJ. I'm unsure if there is redraw on this loan. We have the MISA set up. I thought this would be the easiest way to keep track. We plan to do most of the interior ourselves, so will probably need 80k for the structure, then dip in when we want to get the tiles, fittings etc. My...

Hi guys, One of my IP's is interstate, a few km from my parents house. I went to visit (do maintenance jobs) and used my fathers car for a lot of back and forth driving, and to be picked up from airport. I have kept some fuel receipts, hoping to claim the usage of my dad's car as a deduction...

Hi, We are planning to build an extension on our PPOR. One day this house will be an IP. Is there any problem placing the 100k (increasing loan from 531k to 631k) which has been approved by CBA for this extension into the MISA offset. This way we can dip into it as required for our...