Search results

I've never paid to use a toilet (except in Thailand). You cannot reimburse yourself, but a trustee can remimburse a beneficiary.

If it isn't an offset there is an issue of a loss of interest while waiting to invest. You might be pay 4.50% on a loan which is invested into a savings account earning 1% interest. You would be incurring interest without producing an income. Let us know the result of your PBR.

Here is the link for the PBR which I mentioned Authorisation Number: 57920 http://www.ato.gov.au/rba/content/?ffi=/misc/rba/content/57920.htm Question 1 My argument is this Borrowed money comes from a loan. If you borrow money and put it into a savings account it is then...

Yes, good points Rob. The credit card debt would not be split in my example but you would be notionally repaying a portion - which wouldn't work. Best to segregate card use and not mix business with pleasure.

It would be hard for this sort of thing. I think some lenders may provide a debit card for an LOC - but I have never really looked into it. I think if you buy using a credit card with no other private expenses you should be able to refinance this loan with a LOC loan. Rob, can you...

You do have the choice of setting up your loan correctly, but perhaps no choice under this loan. There is a danger in transferring money to a savings account, even if empty. Seek personal tax advice. I would recommend using a LOC product to avoid these sorts of issues.

Technically even 1 second would be too long. But the ATO may be more lenient and allow the tracing of the borrowed money from the loan to the offset and then to the expense at long as there is no other money in that offset. But this view comes from a private ruling which you may not be able to...

Interest is only deductible on money borrowed to acquire..... You have already acquired the fans. So nope.