1. sashatheman

    Interest Tax Deductible - Scenario

    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...
  2. P

    Offset account needed?

    I have a home loan with a 5.2% variable rate and offset account. Basically, I am wondering is it necessary to have the offset account home loan for taxation purposes (as I claim tax deductions for the properties home loan interest expenses). I have heard it is is complex to not have an offset...
  3. S

    Tax deductions - Interest in Advance

    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...
  4. H

    When to use offset and redraw?

    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...
  5. T

    Topping up PPOR loan and redrawing for IP #1?

    Hello fellow Somersoftians! In preparation for purchasing IP#1, I have been talking to brokers about how to set the finance up. The structure is fairly important as we plan to keep buying IPs as long as our serviceability will allow (plan: 2 IPs this year, 2 next year). We have a PPOR IO...