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This scenario you mention is the first thing that came to my mind last year. This is what i wanted/want. I asked my accountant about this, and they said if i do this the CGT would be calculated from our purchase price of 388k and not from the evaluation from the day i move out and put...

Thanks for the info. Much appreciated

Our current mortgage on our unit is PI. We have an offset account with 145k available in it. Our interest payments have been greatly reduced due to knocking off alot from our principal From what i understand (i might be wrong), the strategy of a IO combined with an offset facility mortgage is...

I am aware that you can only claim a tax expense on interest and not the principal. Though if i was to take out a PI loan, you would knock off some principal from that loan even though it would be very minimal for a period of 3-5 years on a 500k mortgage. If its IO than no proncipal would be...

We can move into the house straight away though we would than have to rent out our unit which is our current PPOR. We purchased the unit for $380k in 2011 and i renovated it straight away and it has currently been valued at 600k. What CGT would we be up for in this situation?

If going with an IO loan with an offset account, it would be positively geared by $100 per week, which would be $5200pa and be included in my taxable income. On a P&I loan i calculate that I would have to contribute no more than $30 per week extra on top of the money being received by the...

Hi all, Long time lurker first time poster. We are currently in a situation where we are looking at purchasing our second property (house) which we intend to rent out for a short period of time (3-5 years, maybe sooner) than move in as our PPOR. Our current situation is that we live in...