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A home, not an IP.

$70k salary. $30k deposit which has been in account for over 3 months. Single. No credit cards. No personal loans. No dependents. What do you guys think my borrowing capacity would be?

Thanks for the answers. So more specifically, $70k per year salary, $30k in inheritance which I would like to use as a deposit. Is there borrowing capacity and if so, how much?

Thanks for the reply. What do you mean by x-coll? So the days of 97% and 100% LVR loans are over?

What type of minimum deposit is required now for a loan? I remember a few years ago, there were 0% deposit home loans. A couple of examples: 1) On an existing dwelling for $450,000, what type of deposit would be required? 2) For a newly constructed dwelling with land for $500,000 (making...

Thanks for the replies.

I understand adding your spouse to the title of your home does not incur stamp duty. Which Government body handles this in NSW? Is adding your spouse name onto the title, adding their name onto the Torrens register? Are you supposed to tell your mortgagee first? Will the mortgagee have something...

Cheers Mick C

Can the NSW First Home Owner Grant (New Homes) scheme be used for OTP apartments?

There is a sizeable pile. Probly way too big for the green waste bin. What do the regulations / law say?

On my property, I have some palm trees. There is a collection of dead branches which have accumulated around the base of the trees. Just wondering if this is the responsibility of the landlord or the tenant to remove?

Thanks for the replies. It seems as though CommSec are the only ones which accommodate trusts. In regards to a trust for a minor where no formal trust deed is created, are the shares "owned" by the trustee (ie. the parent) or the minor (the beneficiary)? And when lodging a tax return, who...

What would be the easiest way to buy shares for your children? Do any brokers accommodate this?

So the trustee lodges the tax return on behalf of the trust but it is a separate tax return to the trustee's personal tax return. Is that right? Also, can the trustee also be a beneficiary in a discretionary trust?

Does a trust have a limit on the number of beneficiaries it can have and do the beneficiaries have to be named when the trust is drawn up? Also, if 100% of the profit is distributed to the beneficiaries, does the trustee still lodge a tax return reflecting profit incurred through the trust...

So the trustee is assessed at the trustee's normal taxation rates. For what reason and based on what event then, would the child beneficiary submit a tax return after the trustee has submitted a tax return?

Nothing in particular, just educating myself on how trusts work in relation to investment structures.

Thanks for the information. So if in a discretionary trust, a minor received 100% of the distribution, the trustee would be taxed at their normal rates as if the trustee had earned the money themselves?

Thanks again. I understand it all except I just don't understand where it says: "If a beneficiary is presently entitled to a share of the trust income and is under 18 years of age, the trustee is assessed and is liable to pay tax on that income as if it were the income of an individual."...

Thanks for the replies. When does the trustee pay tax on behalf of the minor beneficiary? I got this idea from reading here: https://www.ato.gov.au/Forms/Trust-tax-return-instructions-2013/?page=100