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Reply: 3.1.1.1.2.1.1.1.1.1.1.2.1.1 From: Sim' Hampel "It would seem that the arrangement may have the dominant purpose of enabling deductions to be claimed for essentially private expenditure" I think it is this line which the ATO will begin to use more and more to "tighten the noose" on...

Reply: 3.1.1.1.2.1.1.1.1.1.1.1.1 From: Sim' Hampel Like Rolf said ! Indeed, we keep an amount of cash set aside for emergency use (a form of insurance), and we keep this in an offset account, which gives us much better returns than in something like an ING account. Of course, there is no...

Reply: 3.1.1.1.2.1.1.1.1.1.1.2 From: Sim' Hampel On 1/10/02 11:49:00 PM, Steve Piggott wrote: >Converting PPOR to IP! >Yep I would have to go with >Sim... sell it to your >corporate entity. I didn't suggest this. Go speak with a good accountant before you get into this kind of thing. The...

Reply: 3.1.1.1.2.1.1.1.1 From: Sim' Hampel Do exactly what we do... take out an equity loan against the property and use that money for deposits on IPs... the interest is fully tax deductible because the borrowed funds are being used for investment purposes. Simple. Doesn't matter whether...

Reply: 3.1.1.1.1.1.1.1 From: Sim' Hampel That it does too !

Reply: 3.1.1.1.1.1 From: Sim' Hampel Offset accounts rule !

Reply: 2.1.1.1.2 From: Sim' Hampel You are absolutely correct in that professional advice should be sought on this matter, and even a private ruling from the ATO arranged if it concerns you that much. However, I think you are taking the statement "original purpose of the loan" a little too...

Reply: 2.1 From: Sim' Hampel Not really... do you care to elaborate ?

Reply: 1.1 From: Sim' Hampel As Rolf said, Donna... get a new financial planner. It sounds as if yours is just like the vast majority of financial planners who are either just plain stupid (oooh... that was nasty - I know most of them are not stupid - but some of the comments I have heard...