offset

Hi All, I'm a long time lurker first time poster and am going through my first purchase of an investment property in Brisbane. I have some funds in my PPOR offset which I have already used to pay a deposit on an IP ($53k). I am in the process of splitting my PPOR loan ($280k initially into...

Hi Somersoft Forums Can you please help me understand if the following scenario allows the interest to be claimed on the loan. We had a PPoR that was split into two loans as follows. PPoR loan 1: ($82k) PPoR loan 2: ($200k) PPoR loan 1 had a redraw account, that we were unknowingly...

Hiya, I'm calculating whether I should pit the money in deposit or IP offset. The number a bit rounded, but I need keen eyes to see whether the process is correct... Term Deposit Balance $51,500 Term deposit rate 5.9% running until 2016 - I have the choice to keep it or release it...

Hi all, Current situation: Property 1 - Is an OTP and will be our PPOR when completed by March - Will be opting to get an IO loan with offset attached. - Will rent out this property in 7-10, years time when we eventually move to a bigger home as our family expands - The loan on property 1 will...

Hi quick question. If you have a bank package like we do 'Mortgage Interest Saver Account' (MISA) that gives you an offset account, credit cards etc, and you get charged a yearly fee I think mine is $350. Can any of that fee be tax deductible because we use the offset account that is part of...

Hi, SITUATION: I am acquiring an Investment Property (settlement due in May2012). I have taken a Fixed Rate I/O loan (@ 95% LVR) that allows advance payment of annual interest. This does not allow any extra repayment of more than 10K/year. Meaning, I cannot put my rental income (26K/year) in...

Hi, I am in the process of setting up a Fix rate Interest only home loan that allows advance payment of annual interest. While I am aware of the benefits, I am not sure about how (and what accounts) to receive the rental income so that it does not become idle money for the year (not...

Hi All Long time follower of ss but first time poster :) I have read a number of posts in relation to this topic already and am somewhat :confused: so apologies in advance... My simplified understanding is as below…I would be grateful if someone can please shed light in respect to tax...

HI All I'm new to the game and rented out our PPOR as an IP to move interstate. As tax time is looming I am a little confused on 3 things. 1. Would i pay CGT on this house if selling to by another PPOR? 2. Is a depreciation review good to do? House is 3.5 years old. Rented since March...

Hi all, I've recently signed the contract for my very first property. I'm now organising PM's, insurances, etc, etc. I've also set up a Mortgage Interest Saver Account (MISA, what they call it), which is basically an offset account linked to my home loan account. My question is, given...

Hi folks, long time reader first time poster. I've just returned from a visit to my accountant ... and he's totally freaked me out. This is why: I have an investment property with an interest-only investment loan @ 80% LVR. There is an offset account attached to the IP loan. Am I able to put...