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Thanks Paul.

Terry, was querying about what date is taken into consideration from the tax perspective that property purchase has happened........ I was referring to interest on buyer agent fees not the fees itself. i.e 5% interest on 10000 given they have been setup as separate split (equity release) and...

Thanks but :confused: Contract date = CGT (Capital Gain tax) date????? When you buy property i thought there were two critical dates....Contact exchange date (when both parties signed section 32 or relevant doc) and Settlement date (Total money exchange occurs).... can u elaborate on this...

thanks Paul. I should've explained it better. I am releasing equity from the existing property to fund the next purchase.. from this release I am planning to pay BA fees (e.g. $10K) + Solicitor fees + 20% deposit + duties for next purchase. what I mean by claiming BA fees is that interest on...

Thanks Terry. So when I've loan ready with LMI topped up on that (e.g. in Feb) pay BA fees (before Jun 30).....then i could prove that money was used for investment purposes....and property itself can be signed/purchased after Jun 30. I am not claiming the entire loan in the current Fin year...

Thanks Rolf & Terry.... How am i breaking nexus between LMI & investment purpose here...I get that both transactions hasn't happened in same Fin year....at the end of the day LMI paid on the loan is used for investment purposes only....grey area for sure.... to refresh memory....what date is...

Hi there, I am in process for releasing the equity from existing IP as separate split to fund the next purchase. Need to borrow above 80% for equity release hence LMI payable.....lender has advised that LMI payable will be added to separate split.....Plan is to 10% deposit for new IP + stamp...