Search results

OK, my account told me if I do this, I have to make payment by bank cheque so money going from loan to the suspense transaction account goes out to the supplier on the same day. I wonder if the same applies to direct transfer? When asked if this method is proven, he said ATO has taken action...

I need 150k to build a granny flat, so it is used for the same purpose/property. So, I guess it is do-able. Are you allowed to claim interest deduction from LOC paying outgoings (except bank interest)?

With splitting, does the end result need to match original loan for ATO to track, or can I add more to one partition of the split at the same time. Eg: Instead of 3 loans: 270k std var + 50k loc + 100k loc Can I do 2 loans: 270k std var + (50k loc + 100k loc) = 150k loc (increase 50k...

Does it work if I create a new clean transaction account that act as a suspense account for the loan to pay suppliers suggested here?

I asked my bank about redraw from another of my loan account. They said any redraw has to be via a transaction account and can't pay 3rd party directly. Can I argue that due to bank policy, I had to pay it out to my supplier via my offset right after redraw from the loan account?

With the split, does it has to happen with the same bank, or can I refinance + split to any bank at the same time?

I was making 50k available for shares so when price is right, I have funds to buy. How do other people buy/sell shares repeatedly using loan from equity on the property? Do you mean ask the bank to split it into 2 separate loan accounts 270k + 50k?

What about this scenario: My loan for IP was at 270k I increased the loan to 320k some years ago, with 50k difference in offset. My share trading account is set to direct debit/credit to my offset and I used this 50k to buy/sell shares. If loan balance is over 270k at the time I bought...